Collective Metals arranges $1.5-million financing

Executive Summary

• Collective Metals Inc. has arranged a non-brokered private placement for gross proceeds of up to $1.5 million through the sale of up to 7.5 million flow-through units.
• The offering is priced at 20 cents per unit, with each unit consisting of one flow-through common share and one-half of a common share purchase warrant.
• Proceeds are designated for exploration expenses on the company's Rocas uranium project, with qualifying expenditures renounced to subscribers effective December 31, 2026.

Key Details

• Gross Proceeds: Up to $1.5 million.
• Units Offered: Up to 7.5 million flow-through units.
• Price Per Unit: 20 cents.
• Unit Composition:
  • One common share issued as a flow-through share under the Income Tax Act (Canada).
  • One-half of one common share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to purchase one common share.
  • Exercise Price: 25 cents per share.
  • Initial Term: 24 months from the date of issuance.
  • Acceleration Clause: If common shares close at or above 30 cents for 10 consecutive trading days on the Canadian Securities Exchange, the company may accelerate the expiry date. If accelerated, warrants expire 30 calendar days after the news release announcing the acceleration.
• Use of Proceeds: To incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures related to the Rocas uranium project.
• Renunciation Date: All qualifying expenditures will be renounced in favor of subscribers effective December 31, 2026.
• Regulatory/Exemptions: Offered via accredited investor and minimum amount investment exemptions under National Instrument 45-106 in all Canadian provinces.
• Hold Period: Statutory hold period in Canada ending four months plus one day following the closing date.
• Finder’s Fees: The company may pay finders' fees to eligible finders in accordance with exchange policies.
• Conditions: Subject to necessary approvals, including exchange approval.

Notable Quotes

• None provided in the text.