Highlights

  • Finlay Minerals upsizes its non-brokered private placement to CAD 1.7 million due to investor interest.
  • Offering includes a mix of flow-through shares and non-flow-through units priced at $0.11 and CAD 0.10, respectively.
  • Proceeds will support exploration at SAY, JJB, and Silver Hope properties and fund working capital.

Finlay Minerals Ltd. (TSXV: FYL, OTCQB: FYMNF) is a Canadian exploration company focused on advancing base and precious metal projects in British Columbia. Its portfolio includes multiple copper-gold porphyry and epithermal targets across northern and central parts of the province.

The company has announced an increase in the size of its previously disclosed non-brokered private placement, raising the maximum total to CAD 1.7 million. The decision follows higher-than-anticipated investor interest in the offering, which was initially announced on May 26, 2025.

The financing will consist of a combination of flow-through (FT) shares and non-flow-through (NFT) units. FT shares will be issued at a price of CAD 0.11 per share, while NFT units will be offered at CAD 0.10 per unit. Each NFT unit comprises one common share and one share purchase warrant. The company has set a minimum subscription threshold of CAD 500,000 for the placement, to be raised through any combination of FT shares and NFT units.

The warrants attached to the NFT units will be exercisable at CAD 0.20 per share and will be valid for two years from the date of issuance. These warrants may be subject to acceleration if certain trading conditions are met. Specifically, if Finlay’s shares trade at a daily volume-weighted average price above CAD 0.30 for 30 consecutive trading days on the TSX Venture Exchange or another relevant exchange, the company may trigger an accelerated expiry. In that case, warrant holders would have 30 days from the date of notice to exercise their warrants. If not exercised within the timeframe, the warrants would expire with no compensation due. Proceeds from the FT shares will be used to incur Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures under the Income Tax Act (Canada). These funds are designated for use on exploration programs at the company's SAY, JJB, and Silver Hope properties. The remaining funds from the NFT units will be allocated to general working capital.

Finlay Minerals focuses on the exploration and advancement of mineral projects across British Columbia. Its property portfolio includes the ATTY, PIL, JJB, SAY, and Silver Hope projects, which are prospective for copper-gold porphyry and gold-silver epithermal mineralization. These properties are in known porphyry districts of northern and central British Columbia and are positioned near other regional discoveries and ongoing development activity. The company stated that additional details regarding the use of proceeds and project expenditures are outlined in its amended and restated offering document. The private placement is subject to customary regulatory approvals, including acceptance by the TSX Venture Exchange.