VANCOUVER,
BC, May 30, 2023 /CNW/ - Ilona Lindsay ("Lindsay") reports that
through the private placement purchase on May 29, 2023 (the
"Private Placement") of (i) 3,333,333 flow–through units
("FT Units") of Finlay Minerals Ltd. ("Finlay")
at $0.06 per FT Unit and (ii)
6,000,000 non–flow through units ("NFT Units") of Finlay at
$0.05 per NFT Unit for total
consideration paid of $499,999.98,
she has acquired deemed beneficial ownership of 13,999,999 common
shares of Finlay ("Common Shares"). Each FT Unit and each
NFT Unit consists of one Common Share and one half of one Warrant,
with each whole Warrant being exercisable to purchase one Common
Share at a price of $0.10 until
May 29, 2025. The Common Shares which
form part of the FT Units qualify as "flow–through" shares for the
purposes of the Income Tax Act (Canada).
Immediately prior to the Private Placement,
Lindsay had deemed beneficial ownership of 905,000 Common Shares
representing 0.71% of the deemed issued and outstanding Common
Shares. The 905,000 Common Shares, together with 11,145,500 Common
Shares owned by a deemed joint actor under applicable securities
legislation, totalled 12,050,500 Common Shares representing 9.39%
of the deemed issued and outstanding Common Shares.
Following the closing of the Private Placement,
Lindsay has deemed beneficial ownership of 14,904,999 Common Shares
representing 10.40% of the deemed issued and outstanding Common
Shares. These Common Shares, together with the Common Shares owned
by the deemed joint actor, total 26,050,499 Common Shares
representing 18.17% of the deemed issued and outstanding Common
Shares, an increase of 8.78% in respect of the aggregate beneficial
ownership of Common Shares.
Lindsay acquired the FT Units and NFT Units for
investment purposes. Lindsay may, from time to time and at any
time, acquire additional Common Shares and/or other equity, debt or
other securities or instruments (collectively, "Securities")
of Finlay in the open market or otherwise, and reserves the right
to dispose of any or all Securities in the open market or otherwise
at any time and from time to time, and to engage in similar
transactions with respect to the Securities, the whole depending on
market conditions, the business and prospects of Finlay and other
relevant factors.
A copy of the related early warning report filed
under applicable securities laws is available under Finlay's
profile on SEDAR (www.sedar.com) or from Lindsay at
604-684-5133.
"Ilona
Lindsay"
__________________________
Ilona Lindsay
SOURCE Finlay Minerals Ltd.
