Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) has completed the acquisition of the remaining 30% of Lawa Gold N.V. from Nana Resources N.V., securing a 100%, royalty-free interest in the 102,360-hectare Antino Gold Project in southeastern Suriname. Simultaneously, the company closed a C$76,958,864 strategic investment by Gold Fields Limited affiliate Gold Fields Netherlands Services B.V., raising the major miner's ownership stake to approximately 19.9% of Founders' issued and outstanding common shares. The dual closing marks a significant milestone for the Canadian junior gold explorer as it consolidates full control of one of the Guiana Shield's largest contiguous greenstone belt land packages.

Key Points

  • Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) is a Canadian gold exploration company focused on the Antino Gold Project in Suriname
  • Founders now holds a 100%, royalty-free interest in the Antino Gold Project following the completed acquisition of Lawa Gold N.V.'s remaining 30% stake from Nana Resources N.V.
  • Gold Fields invested C$76,958,864 at C$5.44 per share, acquiring 14,146,850 new common shares and increasing its ownership from approximately 12.5% to approximately 19.9%
  • Investors may be watching how Founders deploys the balance of Gold Fields' investment toward regional exploration and greenfields activities at the Antino district

Nana Resources Transaction: Full Antino District Now Under Founders Control

Under the terms of the acquisition, Nana Resources N.V. received US$17,000,000 in cash and 13,568,944 common shares of Founders as transaction consideration. Nana is also entitled to receive up to US$21,000,000 in contingent milestone payments tied to specified mineral resource estimate, permitting, construction, and production milestones at the Antino project. No finders' fees were paid in connection with the transaction. Following the closing, Nana and its joint actors collectively hold approximately 9.9% of Founders' issued and outstanding common shares, a position below the threshold requiring ongoing early warning reporting under Canadian securities rules.

Gold Fields Raises Stake to 19.9% in C$76.9 Million Share Placement

Gold Fields Netherlands Services B.V. subscribed for 14,146,850 common shares at C$5.44 per share, bringing its total holdings to 28,636,729 common shares out of 143,903,160 shares outstanding following the transaction. Prior to closing, Gold Fields held approximately 12.5% of Founders. The issuance was treated as a related-party transaction under Multilateral Instrument 61-101; however, the company states it qualified for exemptions from formal valuation and minority shareholder approval requirements. All newly issued shares carry a statutory hold period of four months and one day under applicable Canadian securities legislation.

Proceeds Allocation and Antino Exploration Advancement

The company disclosed that proceeds from the Gold Fields investment were used first to fund the cash portion of the Nana Resources transaction consideration. The remaining balance is expected to be directed toward regional exploration activities at the Antino project, working capital, and general corporate purposes. President and CEO Colin Padget stated in the release that Founders now has operational control to advance the 102,360-hectare Antino district on its own terms and described Gold Fields' decision to increase its position as a strong endorsement of the project's potential.