Founders Metals Announces C$15 Million Bought Deal Financing & LOI with Strategic Investor

VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Founders Metals Inc. (TSX-V: FDR, OTCQX: FDMIF, FSE: 9DL0) (“Founders” or the “Company”) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets including Paradigm Capital and Clarus Securities, 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$2.40 per Common Share for gross proceeds of approximately C$15 million (the “Offering”).