Founders Metals – Announces C$5 Million Bought Deal Financing

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VANCOUVER, British Columbia, Nov. 14, 2023 (GLOBE NEWSWIRE) -- 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.