Finlay Minerals Announces Upsizing Of Private Placement Financing To $2.635M

Vancouver, BC – June 25, 2021 – Finlay Minerals Ltd. (TSXV: FYL) (“Finlay” or the “Company”) is pleased to announce that, due to strong investor demand for its non-brokered private placement previously announced on June 17, 2021 (the “Private Placement“), the Company has agreed to increase the size of the Private Placement from $2,000,000 to up to $2,635,000.

Under the increased Private Placement, the Company will sell up to: (i) 18,166,666 units (each, a “NFT Unit”), at a price of $0.09 per NFT Unit, with each NFT Unit comprising one common share of the Company and one common share purchase warrant (each, a “Unit Warrant”); and (ii) 8,333,333 flow-through units (“FT Units”), at a price of $0.12 per FT Unit, with each FT Unit comprising one common share of the Company which qualifies as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one Unit Warrant. Each Unit Warrant shall entitle the holder thereof to acquire one additional common share of the Company (each, a “Warrant Share”) at an exercise price of $0.135 per Warrant Share for a period of twenty-four months from the issuance of each such Unit Warrant.

For further information regarding the Private Placement, please refer to the News Release dated June 17, 2021, a copy of which is available on the Company’s SEDAR profile 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 are:

  • the Silver Hope Property, which surrounds the former Equity Silver Mine, includes the 2020 newly discovered Equity East target, 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 Mine (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 ATTY Property which is contiguous to the north side of the Kemess East deposit and adjacent to the Kemess Underground deposit of Centerra Gold Inc., and
  • the PIL Property, which is adjacent to Sable Resource’s Baker Mine, has eight known copper-gold-molybdenum porphyry mineralized zones including several gold-silver epithermal structural systems.

Qualified Person:

Robert Brown, P.Eng. is the qualified person as defined by National Instrument 43-101 and has approved the technical content of this news release.

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 and Director

For further information, contact:

Finlay Minerals Ltd.
Ilona Lindsay, Vice President, Corporate Relations
Tel: 604-684-3099
iblindsay@finlayminerals.com