Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through and Non-Flow-Through Units

Executive Summary

• Finlay Minerals closed a non‑brokered private placement raising $1,709,890 in gross proceeds.
• The offering consisted of 10,633,999 flow‑through units at $0.15 each and 883,000 non‑flow‑through units at $0.13 each.
• Proceeds are earmarked for exploration on the SAY, JJB and Silver Hope properties and for general working capital.

Key Details

• Units Issued
• Flow‑Through (FT) Units: 10,633,999 @ $0.15 per unit → $1,595,099.85 gross.
• Non‑Flow‑Through (NFT) Units: 883,000 @ $0.13 per unit → $114,790.00 gross.

• Aggregate Gross Proceeds: $1,709,890 (before fees).

• Unit Composition

• Each FT Unit = 1 flow‑through common share + ½ non‑flow‑through warrant (exercise price $0.25, expires 17 Oct 2027).

• Each NFT Unit = 1 non‑flow‑through common share + 1 warrant with identical terms to the FT warrants.

• Finder Compensation

• Cash finder fees paid: $96,550.78.

• Finder Warrants issued: 648,358 non‑transferable warrants (exercise price $0.25, expiry 17 Oct 2027; subject to hold period until 18 Feb 2026).

• Use of Proceeds

• Exploration expenditures on the SAY, JJB and Silver Hope properties (qualifying as “flow‑through critical mineral mining expenditures”).

• General working capital.

• Regulatory & Closing Conditions

• Placement conducted under NI 45‑106 Part 5A exemption and Coordinated Blanket Order 45‑935.
• No hold period on the securities issued; subject to final TSX Venture Exchange approval.

Notable Quotes

(No direct quotes were included in the release.)