Founders Metals Announces $10 Million Private Placement
TSX-V: FDR PRESS RELEASE
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Not for distribution to U.S. news wire services or dissemination in the United States
FOUNDERS METALS ANNOUNCES $10 MILLION PRIVATE PLACEMENT
Vancouver, British Columbia – May 17, 2024: Founders Metals Inc. (TSXV:FDR) ("Founders" or the
"Company") is pleased to announce that the Company intends to undertake a non-brokered private placement
financing (the "Offering") pursuant to the Listed Issuer Financing Exemption (the "LIFE") of National Instrument
45-106 - Prospectus Exemptions ("NI 45-106") to raise gross proceeds of up to $10,000,000 from the sale of
up to 6,250,000 common shares of the Company (the "Shares") at a price of $1.60 per Share.
The Company intends to use the net proceeds of the Offering for ongoing exploration activities on the Antino
Gold Project, working capital and general corporate expenses.
Subject to compliance with applicable regulatory requirements, the Offering is being made to purchasers
resident in Canada, except Quebec, and certain jurisdictions outside of Canada in accordance with applicable
securities laws and pursuant to the LIFE provisions under Part 5A of NI 45-106. The Shares issued under the
Offering will not be subject to a hold period or resale restrictions purs uant to applicable Canadian securities
laws and the policies of the TSX Venture Exchange (the “TSXV”).
There is an offering document related to this Offering that can be accessed under the Company's profile at
www.sedarplus.ca and on the Company's website at www.fdrmetals.com. Prospective investors should read
this offering document before making an investment decision.
The Company may pay a finder's fee in respect of those purchasers under the Offering introduced to the
Company by certain persons (each a "Finde r"). Finders may receive a cash payment equal up to 6% of the
gross proceeds received by the Company from purchasers under the Offering. The Offering is subject to
regulatory approval, including approval of the TSXV.
This press release shall not constitut e an offer to sell or the solicitation of an offer to buy securities in the
United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the
1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and
applicable state securities laws.
About Founders Metals Inc.
Founders Metals is a Canadian exploration company operating in North and South America. The Company is
focused on acquiring and advancing gold projects in the South American Guiana Shield. Its flagship project is
the 20,000-ha Antino Gold Project in Surina me. Antino is the most advanced gold exploration project in
Suriname; within an area where historical surface/alluvial gold mining has produced over 500,000 gold ounces
to date1.
The scientific and technical content of this news release has been reviewed and approved by Michael
Dufresne, M.Sc., P .Geol., P .Geo., a “qualified person” as defined under National Instrument 43-101 Standards
of Disclosure for Mineral Projects.
1 2022 Technical Report entitled, “Technical Report, Antino Project, Suriname, South A merica” dated effective December 23,
2022 by K. Raffle, BSc, P . Geo & Rock Lefrançois, BSc, P .Geo. which is publicly available under the Company’s profile on
SEDAR+ at www.sedarplus.ca.
TSX-V: FDR PRESS RELEASE
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ON BEHALF OF THE BOARD OF DIRECTORS
Per: "Colin Padget"
Colin Padget
President, Chief Executive Officer, and Director
Founders Metals Contact Information
Katie MacKenzie, Vice President, Corporate Development
Tel: 306 537 8903 | [email protected]
Nick Stajduhar, Director
Tel: 780 701 3216 | [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds
from the Company's recently completed financings and the future or prospects of the Company. Generally,
forward-looking information can be identified by the use of forward -looking terminology such as "plans",
"expects" or "does not expect ", "is expec ted ", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are necessarily based upon a number of assumptions that, while considered
reasonable by management, are inherently subject to business, market, and economic risks, uncertainties,
and contingencies that may cause actual results, performance, or achievements to be materially different from
those expressed or implied by forward -looking statements. Although the Company has attempted to identify
important factors that could cause actual results to diff er materially from those contained in forward -looking
information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future eve nts could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking information. Other factors which could materially affect such forward-looking information are
described in the risk factors in the Company's most recent annual management discussion and analysis. The
Company does not undertake to update any forward-looking information, except in accordance with applicable
securities laws.