Founders Metals Increases Previously Announced Bought Deal Financing to C$20 Million

VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Founders Metals Inc. (TSX-V: FDR, OTCQX: FDMIF, FSE: 9DL0) (“Founders” or the “Company”) is pleased to announce that due to strong demand and oversubscription, it has increased the size of the previously announced private placement of common shares to 8,340,000 common shares (the “Common Shares”) at a price of C$2.40 for gross proceeds of approximately C$20 million (the “Offering”). The company previously entered into an agreement with a syndicate of underwriters led by BMO Capital Markets including Clarus Securities and Paradigm Capital.