Collective Metals arranges $1.5-million financing

Executive Summary

• Collective Metals Inc. announced a non‑brokered private placement of up to 17,647,058 units at C$0.085 per unit, targeting gross proceeds of approximately $1.5 million.
• Each unit consists of one common share and one transferable warrant exercisable at C$0.10 for an additional share, with a two‑year term and an accelerated expiry clause tied to the share price.
• Proceeds will be allocated to exploration activities on the company’s Rocas project and general working capital.

Key Details

• Units Offered: Up to 17,647,058 units (each = 1 common share + 1 warrant).
• Purchase Price: C$0.085 per unit.
• Gross Proceeds Target: Approximately $1.5 million.
• Warrant Terms:
• Exercise price of C$0.10 per share.
• Valid for two years from closing date.
• Accelerated expiry clause: if the company’s shares trade ≥ C$0.20 for 10 consecutive days on the CSE, warrants may be forced to expire 30 calendar days after a news release announcing acceleration.
• Use of Proceeds: Exploration on the Rocas property and general working capital.
• Placement Structure: Non‑brokered private placement offered to qualified investors under prospectus and registration exemptions.
• Finder’s Fees: May be paid to eligible finders, subject to securities law compliance and CSE policies.
• Holding Period: Four months and one day on all securities issued in the placement.

Notable Quotes

(No CEO/President quotes were provided in the release.)