VANCOUVER, BC, Dec. 20,
2024 /CNW/ - John Andrew
Barakso ("JAB") reports that on December 18, 2024, an aggregate of 13,093,750
common share purchase warrants ("Warrants") of Finlay
Minerals Ltd. (the "Company") held by JAB and deemed joint
actors of JAB expired (the "Warrant Expiration"). Each
Warrant was exercisable for one common share of the Company (each,
a "Common Share") at a price of $0.20 per Common Share.
Immediately prior to the Warrant Expiration: (i) JAB had
beneficial ownership of 1,965,846 Common Shares, representing
approximately 1.40% of the issued and outstanding Common Shares;
(ii) assuming the exercise in full of the 900,000 stock options
exercisable for Common Shares and 1,153,846 Warrants held by JAB,
JAB would have beneficially owned or controlled, directly or
indirectly, 4,019,692 Common Shares, representing
approximately 2.83% of the issued and outstanding Common Shares on
a partially-diluted basis; (iii) JAB, together with 58,630,805
Common Shares held by deemed joint actors with JAB, had beneficial
ownership or control, directly or indirectly, of 60,595,931 Common
Shares, representing approximately 43.25% of the total issued and
outstanding Common Shares; and (iv) assuming the exercise in full
of all convertible securities of the Company held
beneficially by JAB and deemed joint actors with JAB, JAB, together
with such deemed joint actors, would have beneficially owned or
controlled, directly or indirectly, 75,743,527 Common Shares,
representing approximately 48.77% of the issued and outstanding
Common Shares on a partially-diluted basis.
Immediately following the Warrant Expiration: (i) JAB, in a
personal capacity, together with the Common Shares held by deemed
joint actors of JAB, had beneficial ownership or control, directly
or indirectly, of 60,595,931 Common Shares, representing
approximately 43.25% 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 deemed joint actors with
JAB, JAB, together with such deemed joint actors, would have
beneficially owned or controlled, directly or indirectly,
62,649,777 Common Shares, representing approximately 44.05% of the
issued and outstanding Common Shares on a partially-diluted
basis.
The expired Warrants were originally held by JAB and deemed
joint actors of JAB for investment purposes. JAB will evaluate his
investments in the Company from time to time and may, based on such
evaluation, market conditions and other circumstances, increase or
decrease security holdings as circumstances require through market
transactions, private agreements, or otherwise.
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 A.
Barakso"
JOHN ANDREW BARAKSO
SOURCE Finlay Minerals Ltd.
