Explorer Founders upsizes bought-deal financing

Canada-based exploration company Founders Metals has upsized its previously announced bought-deal financing to C$20-million, citing strong demand and oversubscription. The company previously entered into an agreement with a syndicate of underwriters, led by BMO Capital Markets, for C$15-million. It has now increased the placement to 8.34-million shares at C$2.40 each.