VANCOUVER, May 20 /CNW/ - The Board of Directors of Finlay Minerals Ltd. ("The Company") is pleased to announce a non-brokered private placement of up to $240,000 (the "Financing"). The Financing will consist of 2 million units. Each flow-through unit would consist of 1 common share, and one-half of one non-flow-through share purchase warrant (with a term of 24 months, and an exercise price of $0.25).
Finder's fees will be paid on 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 to conduct CEE eligible exploration on two new zones on the Silver Hope project, in 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.
On behalf of the Board of Directors,
Robert Brown, Director
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