09:17 AM EDT, 05/26/2025 (MT Newswires) -- Finlay Minerals ( FYMNF ) on Monday said it plans to complete a non-brokered private placement for aggregate gross proceeds to the company of up to $1 million.

The offering will include the issuance of any combination of flow-through (FT) shares at a price of $0.11 each and non-flow-through (NFT) units at a price of $0.10 each. The private placement is subject to a minimum offering amount of $500,000, to be raised through any combination of FT shares and NFT units.

Each NFT unit will be made up of one non-flow-through common share of the company and one two-year non-flow-through common share purchase warrant to buy one NFT share at a price of $0.20 each.

The closing of the private placement is expected to occur on or about June 9, with the gross proceeds slated for exploration of the company's SAY, JJB and Silver Hope properties, and for general working capital purposes. The company added that it will use the gross proceeds from the issuance of FT shares to incur "Canadian exploration expenses" and qualify as "flow-through mining expenditures." The closing of the private placement is subject to certain closing conditions, including the approval of the TSXV.