Vancouver, British Columbia, June 16, 2025 – TheNewswire - FinEx Metals Ltd. ("FinEx" or the "Company") is pleased to announce the common shares of the Company will be listed on the TSX Venture Exchange (“TSXV”) under the symbol “FINX” at the opening of the market on Wednesday, June 18, 2025.
Tero Kosonen, the Chairman and Chief Executive Officer of FinEx, comments: “Achieving our TSX Venture Exchange listing is a significant milestone in the development of FinEx into a premier mineral exploration company. With a strong technical foundation, supportive shareholder base and a highly prospective land package in Finland’s premier gold belt, we are excited to begin our journey as a public company and advance exploration at our flagship Ruoppa project.”
Subscription Receipt Escrow Release
On April 4, 2025, the Company sold 19,800,000 Subscription Receipts for gross proceeds of $4,356,000 (the “Offering”), which proceeds were held in escrow pending satisfaction of the escrow release conditions, which include filing a final prospectus and obtaining TSXV approval for listing. The escrow release conditions were satisfied on June 16, 2025 and the Escrow Release Date shall occur on June 17, 2025. On the Escrow Release Date, the 19,800,000 Subscription Receipts will automatically convert into 19,800,000 common shares and 9,900,000 share purchase warrants, each exercisable at a price of $0.35 for a 24-month period, without payment of any additional consideration and without any further action by the holder thereof. The gross proceeds from the Offering and accrued interest will be released to the Company. In connection with the Offering, the Company will issue 317,553 finder’s warrants exercisable at $0.22 per share for a 24-month period and pay finder’s fees of $69,862. 150,000 of the common shares and 75,000 of the warrants are restricted from trading until August 5, 2025.
The proceeds from the Offering will be used for exploration activities on the Ruoppa property and other projects in Finland, property acquisition and holding costs, general and administrative expenses and general working capital.
About the Ruoppa Project
The Company’s flagship Ruoppa project is situated in the Central Lapland Greenstone Belt in Finland, adjoining Agnico Eagle’s Kittilä mine land position, the largest gold mine in Europe, and in proximity to the land position that hosts Rupert Resources’ recent Ikkari discovery. Previous work at Ruoppa identified a series of high-grade gold targets that extend over approximately 2.7 km. Ruoppa is fully permitted for drilling and a first-pass diamond drill program is scheduled for August 2025. For more information on the Ruoppa project, refer to the NI 43-101 Technical Report dated April 14, 2015 as filed on SEDAR+ at www.sedarplus.ca.
About FinEx Metals Ltd.
FinEx Metals Ltd. (TSX-V: FINX) is a gold-focused mineral exploration company with a portfolio of 100% owned, royalty free projects near existing mining operations in the Central Lapland Greenstone Belt in Finland. The Company’s flagship Ruoppa project adjoins Agnico Eagle’s Kittilä mine land position, the largest gold mine in Europe, and in proximity to the land position that hosts Rupert Resources recent Ikkari discovery.
For more information, please visit the Company’s website at www.finexmetals.net.
FinEx Metals is part of the NewQuest Capital Group, a discovery-driven investment group that builds value through the incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the company website at www.nqcapitalgroup.com.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Dr. Petri Peltonen, MAusIMM(CP), EurGeol, a “Qualified Person” (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Peltonen is not independent by reason of being a Contractor and Shareholder of the Company.
On Behalf of the Board of Directors
Tero Kosonen
Chairman and Chief Executive Officer
+1 (604) 681-9100
tero@finexmetals.net
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
brennan@nqcapitalgroup.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the proposed listing on the TSX Venture Exchange, future capital expenditures, exploration activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to the anticipated business plans and timing of future activities of the Company, including the Company’s exploration plans and the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, the ability of the Company to obtain the required permits, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated June 13, 2025 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR+ website at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.
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