On October 17, 2025, Finlay Minerals Ltd. (“Finlay”) announced the closing of its non-brokered private placement financing (the “Private Placement”) consisting of the issuance of: (i) 10,633,999 flow-through units of Finlay (each, a “FT Unit”) at a price of $0.15 per FT Unit, and (ii) 883,000 non-flow-through units of Finlay (each, a “NFT Unit”) at a price of $0.13 per NFT Unit, for aggregate gross proceeds to Finlay of $1,709,890. Each FT Unit was comprised of one common share of Finlay issued on a flow-through basis under the Income Tax Act (Canada) (a “FT Share”) and one-half of one non-flow-through common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable by the holder thereof to acquire one non-flow-through common share of Finlay (a “NFT Share”) at an exercise price of $0.25 per NFT Share until October 17, 2027. Each NFT Unit was comprised of one NFT Share and one Warrant with identical terms to the Warrants underlying the FT Units.
Finlay will use the gross proceeds from the issuance of FT Shares to incur “Canadian exploration expenses” and qualify as “flow-through critical mineral mining expenditures”, as such terms are defined in the Income Tax Act (Canada).
The Private Placement utilized the listed issuance financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemption and the Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued to purchasers in reliance on this prospectus exemption are not subject to a hold period pursuant to applicable Canadian securities laws. In connection with this exemption, Finlay filed on SEDAR+ a Form 45-106F19 offering document, which provides a short description of the business of Finlay and the terms of the Private Placement.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits through the advancement of its ATTY, PIL, JJB, SAY and Silver Hope Properties; these properties host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and central BC.
Further details regarding Finlay and the financing can be found on Finlay’s website. Finlay trades under the symbol “FYL” on the TSX Venture Exchange.
