Founders Metals – Announces C$5 Million Bought Deal Financing
PRESS RELEASE
Not for distribution to U.S. news wire services or dissemination in the United States.
FOUNDERS METALS – ANNOUNCES C$5 MILLION BOUGHT DEAL FINANCING
Vancouver, British Columbia – November 14, 2023 – Founders Metals Inc. (TSXV:FDR) ("Founders" or the
"Company") has announced today that it has entered into an agreement with a syndicate of underwriters
led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by
way of private placement, 6,250,000 common shares (the “Common Shares”) of the Company, at a price
of C$0.80 per Common Share for gross proceeds of approximately C$5 million. In addition, the Company
has also granted the underwriters an option, exercisable up to 48 hours prior to the closing of the offering,
to purchase up to an additional 15% of the number of Common Shares purchased pursuant to the offering.
The Company intends to use the net proceeds of the offering for ongoing exploration activities on the Antino
Gold Project and general corporate purposes.
The offering is expected to close on or about November 28, 2023 and is subject to the Company receiving
all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
The securities offered have not 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 sh all 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 State in which such offer, solicitation or sale
would be unlawful.
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 Suriname. 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.
1 2022 Technical Report – Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.
Founders Metals Contact Information
Dave Burwell, VP, Corporate Development
Tel: 403 410 7907 | [email protected]
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 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 cou ld 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
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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.