- Founders Metals (FDR) has announced a private placement to raise gross proceeds of up to $2,500,000
- The company will issue up to 12,500,000 units at $0.20 per unit
- Net proceeds will be used for the exploration and development of the company’s Antino Gold Project in southeast Suriname
- Founders Metals is a Canadian exploration company focused on advancing gold projects in the Guiana Shield
- Founders Metals Inc. (FDR) opened trading at C$0.20
Founders Metals (FDR) has announced a private placement to raise gross proceeds of up to $2,500,000.
The company will issue up to 12,500,000 units at $0.20 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at a price of $0.35 per share for a period of 24 months.
Net proceeds will be used for the exploration and development of the company’s Antino Gold Project in southeast Suriname and working capital and general corporate purposes.
The company may pay a finder’s fee of up to 7 per cent of the gross proceeds and issue common shares equal to up to 7 per cent of the number of units sold.
All securities issued will be subject to a four-month hold period.
Founders Metals is a Canadian exploration company focused on advancing gold projects in the Guiana Shield. Its flagship project is the 23,800-ha Antino Gold Project in southeast Suriname.
Founders Metals Inc. (FDR) opened trading at C$0.20.