Finlay Minerals (TSXV:FYL) ( OTCQB:FYMNF) has announced two non-brokered private placements. The company is looking to raise gross proceeds of up to $500,000 from a combination of regular units and flow-through units. The company plans to raise up to $200,000 from the placement of up to 3,333,333 flow-through units priced at $0.06 per unit, with each unit consisting of one share and one-half a warrant. The company also plans to raise up to $300,000 from the placement of up to 6 million regular units priced at $0.05 per unit, with each unit consisting of one share and one-half a warrant.
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Finlay Minerals (TSXV:FYL) ( OTCQB:FYMNF) has announced two non-brokered private placements.
The company is looking to raise gross proceeds of up to $500,000 from a combination of regular units and flow-through units.
The company plans to raise up to $200,000 from the placement of up to 3,333,333 flow-through units priced at $0.06 per unit, with each unit consisting of one share and one-half a warrant.
The company also plans to raise up to $300,000 from the placement of up to 6 million regular units priced at $0.05 per unit, with each unit consisting of one share and one-half a warrant.
All warrants are exercisable at $0.10 for 24 months.
The shares are currently trading at $0.025.
Interesting to note that a director of the company has agreed to subscribe for all units not acquired by other investors.
Net proceeds from the offering will be used to fund work on the Silver Hope and ATTY Properties, as well as for working capital purposes.
Finlay’s 100%-owned Silver Hope property covers approximately 213 sq km of ground surrounding the past-producing Equity Silver Mine in the prospective Skeena Arch region of central B.C.
The property hosts a network of forestry roads and trails and has year-round access from Houston.
Silver Hope contains the Main Trend which is a greater than 2km copper-silver-gold mineralized trend with mineralization starting at surface.
Next to the Main Trend is the West Horizon copper-moly Porphyry target also with mineralization starting from the surface.
The planned work on the Silver Hope will include the retention of ALS Goldspot Discoveries, a technology consultancy that leverages machine learning in developing exploration targets, for geoscience and data science review of existing and upcoming data on the property.
The review will be conducted on a regional property scale outside and including the Main Zone and the West Horizon copper-molybdenum porphyry.
Finlay's 100%-owned ATTY property, which covers approximately 45 sq km of sub-alpine terrain in the southern Toodoggone region, hosts the KEM target which has similarities to the Kemess North Trend which hosts the Kemess Underground and Kemess East deposits.
The ATTY property is situated between Centerra Gold's Kemess Property and the Amarc - Freeport McMoRan joint ventured Joy Property.
It was advanced inhouse in 2022 with the development of a drill ready copper-silver porphyry target at KEM, and vein-hosted silver, copper, lead, zinc, gold target at Attycelley.
For more information on the company, including the PIL Gold property, please visit the company’s website at www.FinlayMinerals.com, contact Robert Brown, President and CEO, at 604-684-3099 or by email at RBrown@FinlayMinerals.com or Ilona Lindsay, VP Corporate Relations and Interim CFO, at 604-684-3099 or by email at IBLindsay@FinlayMinerals.com.
