VANCOUVER, Oct. 19, 2018 /CNW/ - Finlay Minerals
Ltd. (TSXV: FYL) (the "Company") reports that John Barakso, Chairman of the Board, Director
and Control Person of the Company, has exercised 2,857,143 share
purchase warrants ("Warrants") held by Baril Developments Ltd.
("Baril').
The Warrants, exercisable at $0.05
and expiring in April, 2020, resulted in the issuance of 2,857,143
common shares to Baril for consideration paid to the Company of
$142,857.15. Mr. Barakso will
not be selling the common shares issued pursuant to this
transaction but rather will be holding them for investment
purposes.
Mr. John Barakso, Chairman of the
Board and founder of the Company states:
"Every time we do work on our properties, we find something
or something more that makes the Company's property assets more
compelling for all of us."
The funds garnered from this transaction will be used by the
Company to fund further exploration work on their PIL and Silver
Hope Properties.
The Company further confirms that there has been no material
change in the operations of the Company.
Additional details regarding the above transaction may be found
on the SEDAR profile of Finlay Minerals Ltd. at www.sedar.com.
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;
Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001). The
Silver Hope Property surrounds the former Equity Silver
Mine;
- the ATTY which is contiguous to the north side of
the Kemess East deposit and adjacent to the Kemess Underground
deposit of Centerra Gold Inc. and which was recently optioned to
Serengeti Resources (Finlay NR 01-18 dated March 5, 2018), and
- the PIL Property which is adjacent to Sable
Resource's Baker Mine.
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, P.Eng.
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, among others, the exploration plans for the PIL and
Silver Hope 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.