Founders Metals Appoints Barry Macdonald as New Director & Announces Results of AGM

Rhea-AI Summary

Founders Metals (TSXV: FDR) (OTCQX: FDMIF) has appointed Barry Macdonald as a new Independent Director to its Board. Macdonald brings over 40 years of experience in strategic governance, international tax, mergers and acquisitions, and corporate finance as a retired PwC Partner and Fellow of the Chartered Professional Accountants of British Columbia.

The company also announced results from its April 8th, 2025 Annual General Meeting, where shareholders approved all Director elections and Macdonald's appointment. The meeting saw participation from 41,676,989 shares, representing 41.94% of outstanding shares. All directors received strong approval ratings, with Colin Padget and Barry Macdonald receiving 99.99% approval, Nicholas Stajduhar 92.85%, Kevin Vienneau 98.79%, and Christopher Taylor 96.88%. Shareholders also approved MS Partners LLP as auditors and the stock option plan.

Positive

• Appointment of highly qualified director with 40+ years of financial and governance expertise
• Strong shareholder support with all directors receiving >92% approval votes
• High approval rate of 99.99% for new director appointment

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces the appointment of Barry Macdonald to the Company's Board of Directors as an Independent Director.

Founders' President & CEO, Colin Padget, commented, "We are pleased to welcome Barry to Founders' Board of Directors. His extensive experience in finance and corporate governance will be invaluable as we continue to grow."

Mr. Macdonald is a Fellow of the Chartered Professional Accountants of British Columbia and retired Partner at PwC with over 40 years of experience in strategic governance, international tax, mergers and acquisitions, and corporate finance. He is the current Board Chair of the Simon Fraser University UniverCity Real Estate Trust, and Truvera Trust & Mortgage Corporation. Mr. Macdonald was the 2018/19 Chair of the Board of the Chartered Professional Accountants of B.C. where he led its board of 17 Directors governing 35,000 members. He is currently on the B.C. Executive of the Institute of Corporate Directors.

The Company also announces the results from the Annual General Meeting ("AGM") held on April 8^th, 2025, in Vancouver, British Columbia. Shareholders approved the election of all Directors and the new appointment of Barry Macdonald. The reappointment of MS Partners LLP as the Company's auditors and the stock option plan were also approved by shareholders. A total of 41,676,989 shares were voted, representing 41.94% of the Company's issued and outstanding common shares at the record date of the AGM. The following table provides detailed results of the voting.

Table 1: Voting Results for Election of Directors

Nominee	Votes For	Votes Withheld	Percentage For
Colin Padget	41,676,356	633	99.99%
Barry Macdonald	41,676,356	633	99.99%
Nicholas Stajduhar	38,696,953	2,980,036	92.85%
Kevin Vienneau	41,174,956	502,033	98.79%
Christopher Taylor	40,376,553	1,300,436	96.88%

 

About Founders Metals Inc.
Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date¹. The Company is fully financed for up to 60,000 metres of drilling in 2025.

¹ 2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.

ON BEHALF OF THE BOARD OF DIRECTORS,

Per: "Colin Padget"

Colin Padget
President, Chief Executive Officer, and Director

Contact Information

Katie MacKenzie, Vice President, Corporate Development
Tel: 306 537 8903 | katiem@fdrmetals.com

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 could 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 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.

All material information on Founders Metals can be found at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248020

FAQ

Who is Barry Macdonald and what experience does he bring to FDMIF's board?

Barry Macdonald is a retired PwC Partner with 40+ years experience in finance and governance. He's a Fellow of BC's Chartered Professional Accountants and brings expertise in strategic governance, international tax, M&A, and corporate finance.

What was the shareholder participation rate at FDMIF's 2025 AGM?

The AGM saw participation of 41,676,989 shares, representing 41.94% of the company's issued and outstanding common shares.

What key proposals were approved at Founders Metals' 2025 AGM?

Shareholders approved the election of all Directors, Barry Macdonald's appointment, reappointment of MS Partners LLP as auditors, and the stock option plan.

What was the voting result for FDMIF's new director Barry Macdonald?

Barry Macdonald received 41,676,356 votes in favor (99.99% approval) with only 633 votes withheld.