Collective closes $125.4-million bought deal offering

Executive Summary

• Collective Mining closed an upsized bought‑deal public offering of 6.6 million common shares at C$19 per share, raising C$125.4 million in gross proceeds.
• Simultaneously, a non‑brokered private placement with Agnico Eagle Mines Ltd. sold 789,473 shares for approximately C$15 million, bringing total gross proceeds to C$140 million.
• Net proceeds will fund continued work on the Guayabales project (exploration, technical studies, underground development), pursue additional exploration opportunities, and support working capital/general corporate purposes.

Key Details

• Public Offering: 6.6 M common shares @ C$19/share → C$125.4 M gross proceeds.
• Underwriters: BMO Capital Markets & Scotia Capital (joint bookrunners) with Clarus Securities, Canaccord Genuity, Roth Canada, Jett Capital Advisors, Ventum Financial.
• Private Placement: Agnico Eagle purchased 789,473 shares at the same issue price → ≈C$15 M gross proceeds; no underwriting commissions or fees paid.
• Total Gross Proceeds: Approximately C$140 million from both transactions.
• Use of Proceeds:
• Advance Guayabales project – further exploration, technical studies, underground development to expand known gold deposits.
• Pursue other exploration and development opportunities.
• Working capital and general corporate purposes.
• Securities Distribution: Public‑offering shares qualified for distribution under a short‑form base shelf prospectus dated Dec 4 2023; private‑placement shares subject to a four‑month hold period in Canada.
• Regulatory Approvals: Transactions remain subject to final approval by the Toronto Stock Exchange and NYSE American.
• Related‑Party Transaction: Private placement qualifies as a related‑party transaction under MI 61‑101; exempt from formal valuation/minority shareholder approval because Agnico’s participation is <25 % of market cap.

Notable Quotes

(No direct quotes were provided in the release.)