Collective closes $1.43-million private placement

Executive Summary

• Collective Metals Inc. has closed its non-brokered private placement, issuing 16,925,479 units for aggregate gross proceeds of CDN $1,438,665.72.
• Each unit consists of one common share and one transferable common share purchase warrant, with an exercise price of 10.5 cents and a 24-month term, subject to an accelerated expiry clause.
• The company will use the net proceeds for general working capital purposes, and all securities are subject to a statutory hold period of four months and one day.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: 16,925,479 units.
• Price Per Unit: 8.5 cents CAD.
• Gross Proceeds: CDN $1,438,665.72.
• Warrant Terms:
  • Each unit includes one transferable common share purchase warrant.
  • Exercise Price: 10.5 cents per share.
  • Term: 24 months from the closing date.
  • Accelerated Expiry Clause: If the company's shares close at or above 20 cents for 10 consecutive trading days on the Canadian Securities Exchange, the company may accelerate the expiry date by issuing a news release, with warrants expiring 30 calendar days after such release.
• Finders' Fees:
  • Cash Fees: 57,020.75 (currency implied as CAD based on context).
  • Warrants: 670,833 finders' warrants paid to arm's-length parties.
  • Warrant Terms: Exercisable on the same terms as the warrants forming part of the units.
• Use of Proceeds: General working capital purposes.
• Hold Period: All securities issued are subject to a statutory hold period of four months and one day.