Founders Metals Inc. announced a non-brokered private placement of 6,250,000 common shares of the Company at a price of CAD 1.60 per Share for gross proceeds CAD 10,000,000 on May 17, 2024. The transaction is subject to compliance with applicable regulatory requirements. The Shares issued under the Offering will not be subject to a hold period or resale restrictions pursuant to applicable Canadian securities laws and the policies of the TSX Venture Exchange.

The Company may pay a finder's fee in respect of those purchasers under the Offering introduced to the Company by certain persons. Finders may receive a cash payment equal up to 6% of the gross proceeds received by the Company from purchasers under the Offering. The Offering is subject to regulatory approval, including approval of the TSXV.