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Contract Type
agreement
VancouverMiningPrecious MetalsMineralDescription
Founders Metals Inc. 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, 5,716,000 common shares (the 'Common Shares') of the Company, at a price of C$5.30 per Common Share for gross proceeds of approximately C$30 million. The net proceeds will be used to accelerate ongoing exploration activities on the Antino Gold Project and general corporate purposes. The offering is expected to close on or about February 20, 2025 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange.