/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S.
NEWSWIRE
SERVICES/
VANCOUVER, Nov. 27, 2017 /CNW/ - Finlay Minerals Ltd.
(TSXV: FYL) (the "Company") is pleased to announce
a non-brokered flow-through private placement to raise gross
proceeds of up to $1,000,000 (the
"FT Financing") and a concurrent non-brokered
non-flow-through private placement to raise gross proceeds of up to
$250,000 (the "NFT
Financing").
The FT Financing will consist of up to 7,142,857 units; each
unit will consist of one common share of the Company, on a
flow-through basis (a "FT Share") and one-half of one share
purchase warrant, at a price of $0.14
per unit. The NFT Financing will consist of up to 2,083,333 units;
each unit will consist of one common share of the Company, on a
non-flow through basis (a "NFT Share") and one full share
purchase warrant, at a price of $0.12
per unit.
Each whole common share purchase warrant (a "Warrant")
will be exercisable for the purchase of an additional common share
of the Company, on a non-flow through basis (each, a "Warrant
Share") for a term of 48 months at an exercise price of
$0.20 per share. In the event the
common shares of the Company close at a price of not less than
$0.30 per share for at least 20
consecutive trading days at any time beginning four months and one
day after the date of issuance of the Warrants, the term of the
Warrants may be accelerated upon written notice from the Company.
Upon such notice being provided, the holders of the Warrants will
have 30 days to exercise the Warrants, failing which they will
expire and be of no further force or effect.
The proceeds of the of financing will be used to fund deep
induced polarization (IP) geophysics and deep drilling on its
Silver Hope Property, to fund deep IP on its ATTY Property and for
general working capital.
Finder's fees of up to 6% may be paid on portions of the private
placement made by third parties who are introduced by the
finder/broker.
Closing of the private placement is expected to occur on or
about December 18, 2017 and is
subject to receipt of regulatory approvals, including the approval
of the TSX Venture Exchange. The FT Shares, the NFT Shares, the
Warrants, any Warrant Shares and any securities issued in payment
of finder's fees will be subject to a four-month hold period that
will run from the date of issuance.
The securities being offered will not be registered under the
United States Securities Act of 1933, as amended and may not be
offered or sold within the United
States absent registration or an exemption from the
registration requirements. This news release does not constitute an
offer to sell or a solicitation of an offer to buy any of the
securities in the United
States.
About Finlay Minerals Ltd.
Finlay is a TSX Venture Exchange company focused on exploration
for base and precious metal deposits in northern British Columbia. The Company's properties
include:
- the Silver Hope which includes porphyry
copper-molybdenum mineralization discovered in 2010, along with
three silver-copper mineralized zones, in a contiguous trend with
the mined-out deposits of the former Equity Silver Mines (71
million oz. silver, 185 million lbs. copper and 508,000 oz.
gold),
- the ATTY which is contiguous to the north side of
the Kemess East deposit of AuRico Metals Inc., and
- the PIL Property.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX
Venture Exchange. For further information and details please visit
the Company's website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown,
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Information: This news release
includes certain "forward-looking information" and "forward-looking
statements" (collectively, "forward-looking statements") within the
meaning of applicable Canadian securities legislation. All
statements in this news release that address events or developments
that we expect to occur in the future are forward-looking
statements. Forward-looking statements are statements that
are not historical facts and are generally, although not always,
identified by words such as "expect", "plan", "anticipate",
"project", "target", "potential", "schedule", "forecast", "budget",
"estimate", "intend" or "believe" and similar expressions or their
negative connotations, or that events or conditions "will",
"would", "may", "could", "should" or "might" occur. All such
forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made.
Forward-looking statements in this news release include statements
regarding the proposed used of funds from the private placement and
the Company's intentions relating to exploration of the Silver Hope
and ATTY Properties. Although Finlay believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploration
successes, and continued availability of capital and financing and
general economic, market or business conditions. These
forward-looking statements are based on a number of assumptions
including, among other things, assumptions regarding general
business and economic conditions, the timing and receipt of
regulatory and governmental approvals, the ability of Finlay and
other parties to satisfy stock exchange and other regulatory
requirements in a timely manner, the availability of financing for
Finlay's proposed transactions and programs on reasonable terms,
and the ability of third party service providers to deliver
services in a timely manner. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Finlay does not assume any
obligation to update or revise its forward-looking statements,
whether as a result of new information, future or otherwise, except
as required by applicable law.
SOURCE Finlay Minerals Ltd.