VANCOUVER, April 12, 2016 /CNW/ - John J. Barakso ("Mr. J. Barakso") announces that on April 12, 2016 he acquired an aggregate of 5,879,286 common shares (the "Shares") of Finlay Minerals Ltd. ("Finlay") pursuant to the closing of Finlay's private placement financing on April 12, 2016 and through the purchase of shares on the open market between October 8, 2014 and April 11, 2016. Finlay Minerals Ltd. trades on the TSX Venture Exchange under the symbol: FYL.V.
The Shares were acquired through a combined hard cash placement at a purchase price of $0.035 CAD (hard cash) representing proceeds of $200,000 CAD. Total consideration paid was $200,000 and the shares are held directly as well as indirectly through Baril Developments Limited.
Mr. J. Barakso further reports that over the course of the previous eighteen months he has further acquired 165,000 common shares through purchases on the public market. Mr. J. Barakso has not disposed of any Finlay common shares since Finlay went public in 2002. Mr. J. Barakso now controls 32,959,444 common shares of Finlay representing 47.92% of the issued and outstanding common shares of Finlay. Assuming the exercise of warrants and stock options, Mr. J. Barakso will have control of 38,867,778 common shares of Finlay representing 48.5% of the fully diluted common shares of Finlay.
The common shares of Finlay were acquired by Mr. J. Barakso for investment purposes. Depending on Mr. J. Barakso's investment decisions, he may choose to purchase additional shares on the open market or in private transactions.
Mr. J. Barakso is Finlay's founder, director and Chairman of the Board.
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.
SOURCE John J. Barakso
For further information: concerning the foregoing or to obtain a copy of the subject Early Warning Report, please contact: John. J. Barakso, 604-684-5133