VANCOUVER, March 1 /CNW/ - The Board of Directors of Finlay Minerals Ltd. ("The Company") is pleased to announce a non-brokered private placement of 3,000,000 Units at $0.10 per Unit for total gross proceeds of up to $300,000. Each Unit consists of 1 common share, and one-half non-transferable share purchase warrant with a term of 24 months, and an exercise price of $0.20 per share for each whole warrant.
Finder's fees may be paid on portions of the private placement.
The private placement shares, any shares acquired upon exercise of the warrants and any securities issued in payment of finder's fees will be subject to a four-month hold period.
Funds will be used starting a trenching / drilling program on two new zones at the Silver Hope project, B.C.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. Warner Gruenwald, a Qualified Person as defined by National Instrument 43-101, is supervising the exploration program.
For further information and details please visit the Company website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert Brown, P. Eng., President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
SOURCE Finlay Minerals Ltd.
For further information: For further information: and details please visit the Company website at www.finlayminerals.com; 912 - 510 West Hastings St, Vancouver, B.C., Canada, V6C 3B6, Telephone: (604) 684-3099, Fax: (604) 684-3098