Founders Metals Closes C$32.5 Million Bought Deal Financing
Founders Metals Closes C$32.5 Million Bought
Deal Financing
Vancouver, British Columbia--(Newsfile Corp. - February 20, 2025) -
Founders Metals Inc
. (TSXV:
FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces the closing of its
previously announced bought deal private placement offering of 6,136,455 common shares (the "Offered
Shares") at a price of C$5.30 per Offered Share for aggregate gross proceeds of C$32,523,211 (the
"Offering"), including the partial exercise of the Underwriters' (as defined herein) option to purchase
420,455 Offered Shares. The Offering was led by BMO Capital Markets, as lead underwriter and sole
bookrunner, on behalf of a syndicate of underwriters including Clarus Securities Inc., Paradigm Capital
Inc., Agentis Capital Markets Limited Partnership, H&P Advisory Limited, and National Bank Financial
Inc. (the "Underwriters").
The Company intends to use the net proceeds of the Offering to accelerate ongoing exploration activities
on the Antino Gold Project and general corporate purposes.
In consideration for the services provided to Founders by the Underwriters in connection with the
Offering, the Company paid the Underwriters a cash fee equal to 6% of the aggregate gross proceeds of
the Offered Shares sold under the Offering.
The securities issued under the Offering will be subject to a hold period under applicable securities laws
in Canada expiring four months and one day after the closing of the Offering. The Offering is subject to
final acceptance of the TSX Venture Exchange. None of the Offered Shares have been registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Founders Metals Inc.
Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold
Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares
and has produced over 500,000 ounces of gold from surface and alluvial mining to date
1
. The Company
is fully financed for 60,000 metres of drilling in 2025.
1
2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.
ON BEHALF OF THE BOARD OF DIRECTORS
Per :
"Colin Padget"
Colin Padget
President, Chief Executive Officer and Director
Contact Information
Katie MacKenzie, Vice President, Corporate Development
, 1.306.537.8903
Neither TSX Venture Exchange nor its Regulation Services Provider 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
intended use of proceeds raised under the Offering, and the receipt of all required approvals relating to
the Offering. Generally, forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect ", "is expected ", "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 differ 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 events 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.
All material information on Founders can be found at
www.sedarplus.ca
.
Not for distribution to U.S. news wire services or dissemination in the United States
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/241612