07:47 AM EDT, 10/20/2025 (MT Newswires) -- Finlay Minerals ( FYMNF ) over the weekend said it closed its previously announced non-brokered private placement raising $1.7 million.

The offering consisted of the issuance of 10.6-million flow-through units at $0.15 per FT unit, and 883,000 non-flow-through units at $0.13 per NFT unit. Each FT unit is comprised of one common share issued on a flow-through basis under Canada's Income Tax Act (FT share) and one-half of one non-flow-through common share purchase warrant, where each warrant is exercisable by the holder to buy an NFT share for $0.25 until Oct. 17, 2027.

Proceeds of the private placement will be used for exploration of its SAY, JJB and Silver Hope properties, and for general working capital purposes. Proceeds from the issuance of FT shares will incur "Canadian exploration expenses" and qualify as "flow-through critical mineral mining expenditures".

Shares of the company closed unchanged at $0.13 on Friday on the TSX Venture Exchange.