VANCOUVER, Nov. 15, 2017 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL) (the "Company") announces that, pursuant to the Company's 10% Rolling Stock Option Plan (the "Plan"), as approved by its shareholders, the Company has granted stock options exercisable for the issuance of up to 1,750,000 common shares of the Company (the "Stock Options"). The Stock Options are exercisable at a price of $0.10 per share for a period of five years, expiring on November 15, 2022. The Stock Options are subject to the terms of the Plan.
The Stock Options were granted to the seven directors of the Company (as elected at the Company's Annual General Meeting on June 29, 2017) and to one consultant of the Company.
The above-noted stock option grant brings the total number of the Company's issued and outstanding stock options to 3,650,000.
The Stock Options vest as of the date of the grant. The Stock Options and any common shares of the Company issued upon exercise of the Stock Options will be subject to a four month resale restriction from the date of grant of the Stock Options.
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 include:
- the Silver Hope which includes 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),
- the ATTY which is contiguous to the north side of the Kemess Underground and Kemess East deposits of AuRico Metals Inc., and
- the PIL Property.
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
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 Finlay Minerals Ltd.
For further information: Finlay Minerals Ltd., John Barakso, Chairman of the Board, Tel: 604-684-3099, [email protected]