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Founders Metals Closes C$12.1M Financing with B2Gold

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Founders Metals has successfully closed a strategic investment from B2Gold Corp., raising C$12.1 million through the issuance of 4,400,000 common shares at C$2.75 per share. This represents 5.0% of Founders' outstanding shares. An investor rights agreement grants B2Gold the right to maintain its pro rata interest up to 9.9% through future financings. B2Gold has committed to acquire an additional 1,170,000 shares over 12 months. The proceeds will fund exploration and development at the Antino Gold Project in Suriname in 2025. Agentis Capital received a 4% commission as finders for the offering.

Founders Metals ha concluso con successo un investimento strategico da parte di B2Gold Corp., raccogliendo C$12,1 milioni attraverso l'emissione di 4.400.000 azioni ordinarie a C$2,75 per azione. Questo rappresenta il 5,0% delle azioni in circolazione di Founders. Un accordo di diritti degli investitori concede a B2Gold il diritto di mantenere il suo interesse proporzionale fino al 9,9% attraverso future finanziamenti. B2Gold si è impegnata ad acquisire ulteriori 1.170.000 azioni nel corso di 12 mesi. I proventi finanzieranno l'esplorazione e lo sviluppo del Progetto Oro Antino in Suriname nel 2025. Agentis Capital ha ricevuto una commissione del 4% come intermediario per l'offerta.

Founders Metals ha cerrado con éxito una inversión estratégica de B2Gold Corp., recaudando C$12.1 millones mediante la emisión de 4,400,000 acciones comunes a C$2.75 por acción. Esto representa el 5.0% de las acciones en circulación de Founders. Un acuerdo de derechos de inversor otorga a B2Gold el derecho a mantener su participación proporcional hasta el 9.9% a través de financiamientos futuros. B2Gold se ha comprometido a adquirir 1,170,000 acciones adicionales en un plazo de 12 meses. Los ingresos se destinarán a la exploración y desarrollo del Proyecto de Oro Antino en Surinam en 2025. Agentis Capital recibió una comisión del 4% como buscadores para la oferta.

Founders MetalsB2Gold Corp.로부터 전략적 투자를 성공적으로 마감하였으며, C$12.1 백만을 모금했습니다. 이는 C$2.75에 4,400,000개의 보통주를 발행함으로써 이루어졌습니다. 이는 Founders의 발행주식의 5.0%를 나타냅니다. 투자자 권리 계약은 B2Gold에게 향후 자금 조달을 통해 최대 9.9%의 비율로 지분을 유지할 수 있는 권리를 부여합니다. B2Gold는 향후 12개월 동안 추가로 1,170,000주를 인수하기로 약속했습니다. 수익금은 2025년 수리남의 안티노 금 프로젝트의 탐사 및 개발 자금으로 사용될 것입니다. Agentis Capital은 이번 제공에 대해 4%의 수수료를 받았습니다.

Founders Metals a conclu avec succès un investissement stratégique de B2Gold Corp., levant C$12,1 millions grâce à l'émission de 4 400 000 actions ordinaires à C$2,75 par action. Cela représente 5,0 % des actions en circulation de Founders. Un accord de droits des investisseurs confère à B2Gold le droit de maintenir son intérêt proportionnel jusqu'à 9,9 % grâce à de futurs financements. B2Gold s'est engagé à acquérir 1 170 000 actions supplémentaires sur 12 mois. Les recettes serviront à financer l'exploration et le développement du Projet d'Or Antino au Surinam en 2025. Agentis Capital a reçu une commission de 4 % en tant qu'intermédiaire pour l'offre.

Founders Metals hat erfolgreich eine strategische Investition von B2Gold Corp. abgeschlossen und dabei C$12,1 Millionen durch die Ausgabe von 4.400.000 Stammaktien zu einem Preis von C$2,75 pro Aktie gesammelt. Dies entspricht 5,0% der ausstehenden Aktien von Founders. Eine Anlegerrechtevereinbarung gewährt B2Gold das Recht, ihre proportionale Beteiligung bis zu 9,9% durch zukünftige Finanzierungen aufrechtzuerhalten. B2Gold hat sich verpflichtet, innerhalb von 12 Monaten zusätzlich 1.170.000 Aktien zu erwerben. Der Erlös wird die Exploration und Entwicklung des Antino Gold Projekts in Suriname im Jahr 2025 finanzieren. Agentis Capital erhielt eine Provision von 4% als Vermittler für das Angebot.

Positive
  • Secured significant C$12.1M strategic investment from B2Gold
  • B2Gold commits to additional market purchases of 1,170,000 shares
  • Obtained right to maintain pro rata interest up to 9.9% in future financings
  • Strengthened financial position for 2025 Antino Gold Project development
Negative
  • 4% finder's fee reduces net proceeds from the offering
  • 5% share dilution for existing shareholders

Vancouver, British Columbia--(Newsfile Corp. - November 5, 2024) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") is pleased to announce that it has closed its previously announced strategic investment from B2Gold Corp. ("B2Gold") of 4,400,000 common shares of the Company (the "Offered Shares") at a price of C$2.75 per Offered Share for aggregate gross proceeds of C$12,100,000 (the "Offering"). The Offering represents 5.0% of the issued and outstanding common shares of the Company (the "Common Shares").

Concurrent with closing the Offering, Founders and B2Gold entered into an investor rights agreement, pursuant to which B2Gold has been granted the right to maintain its pro rata interest in the Company through participation in future financings up to a maximum share position of 9.9%. Additionally, B2Gold has agreed to acquire 1,170,000 Common Shares in the market over a 12-month period following closing.

The net proceeds from the Offering will be used to continue advancing exploration and development work in 2025 at the Antino Gold Project in Suriname and for general corporate purposes.

The securities issued under the Offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day after the closing of the Offering. The Offering is subject to final acceptance of the TSX Venture Exchange. None of the Offered Shares have been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Agentis Capital acted as finders in connection with the Offering and were paid a cash commission equal to 4% of the aggregate gross proceeds of the Offering.

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 will complete 45,000 metres of drilling in 2024 and is fully funded for 60,000 metres 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: +1 306 537 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.

Not for distribution to U.S. news wire services or dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228898

FAQ

How much did B2Gold invest in Founders Metals (FDMIF) in November 2024?

B2Gold invested C$12.1 million in Founders Metals through the purchase of 4,400,000 common shares at C$2.75 per share.

What percentage ownership did B2Gold acquire in Founders Metals (FDMIF)?

B2Gold acquired a 5.0% ownership stake in Founders Metals through the strategic investment.

How will Founders Metals (FDMIF) use the proceeds from the B2Gold investment?

The proceeds will be used to advance exploration and development work at the Antino Gold Project in Suriname during 2025 and for general corporate purposes.

What additional share purchase commitment did B2Gold make to Founders Metals (FDMIF)?

B2Gold committed to acquire an additional 1,170,000 common shares in the market over a 12-month period following the closing.

FOUNDERS METALS INC

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