VANCOUVER, BC, April 1,
2024 /CNW/ - John Andrew
Barakso ("JAB") reports that pursuant to a general
power of attorney (the "Power of Attorney") given by
John Janos Barakso ("JJB") on
March 28, 2024 in connection with
estate planning matters, JAB acquired direction and control of an
aggregate of 58,630,085 common shares ("Common Shares") of
Finlay Minerals Ltd. (the "Company") and 13,093,750 Common
Share purchase warrants which are beneficially owned or controlled,
directly or indirectly, by JJB (collectively, the "Controlled
Securities").
Immediately prior to the execution of the Power of Attorney: (i)
JAB had beneficial ownership of 1,965,846 Common Shares,
representing approximately 1.42% of the issued and outstanding
Common Shares; (ii) assuming the exercise in full of all of the
convertible securities of the Company held beneficially by JAB, JAB
would have held 4,019,692 Common Shares, representing approximately
2.87% of the issued and outstanding Common Shares on a
partially-diluted basis; (iii) JAB, together with the 11,145,500
Common Shares held by a deemed joint actor under applicable
securities legislation, had beneficial ownership or control,
directly or indirectly, of 13,111,346 Common Shares, representing
approximately 9.49% of the total issued and outstanding Common
Shares; and (iv) assuming the exercise in full of all of the
convertible securities of the Company held beneficially by JAB,
JAB, together with the deemed joint actor, would have held
15,165,192 Common Shares, representing approximately 10.98% of the
issued and outstanding Common Shares on a partially-diluted
basis.
Immediately following the execution of the Power of Attorney:
(i) JAB, in a personal capacity, together with the Common Shares
held by the deemed joint actor and the Common Shares beneficially
owned or controlled, directly or indirectly, by JJB over which JAB
acquired direction and control pursuant to the Power of Attorney,
had beneficial ownership or control, directly or indirectly, of
60,595,931 Common Shares, representing approximately 43.87% of the
issued and outstanding Common Shares; and (ii) assuming the
exercise in full of the convertible securities of the Company held
by JAB and JJB over which JAB has acquired direction and control
pursuant to the Power of Attorney, JAB would have had beneficial
ownership or control, directly or indirectly, of 75,743,527 Common
Shares, representing approximately 49.42% of the issued and
outstanding Common Shares on a partially-diluted basis.
The transfer of control and direction over the Controlled
Securities pursuant to the Power of Attorney was effected solely
for estate planning purposes.
A copy of the related early warning report filed under
applicable securities laws is available under the Company's profile
on SEDAR+ (www.sedarplus.ca) or from the Company at (604)
684-3099.
"John Andrew
Barakso"
___________________________
JOHN
ANDREW BARAKSO
SOURCE Finlay Minerals Ltd.
