Collective Mining Announces Closing of Concurrent Financings for Gross Proceeds of C$140 Million

Executive Summary

• Collective Mining closed an upsized “bought‑deal” public offering of 6,600,000 common shares at C$19.00 per share, generating 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 are earmarked to fund exploration, technical studies, underground development at the Guayabales Project, pursue additional opportunities, and provide working capital/general corporate purposes.

Key Details

• Public Offering
• Shares issued: 6,600,000 common shares
• Issue price: C$19.00 per share
• Gross proceeds: C$125,400,000
• Underwriters: BMO Capital Markets & Scotia Capital (joint bookrunners) with Clarus Securities, Canaccord Genuity, Roth Canada, Jett Capital Advisors, Ventum Financial.

• Offering conducted under a short‑form base shelf prospectus dated Dec 4 2023; shares qualified for distribution in Canada.

• Concurrent Private Placement

• Investor: Agnico Eagle Mines Ltd. (related party)
• Shares purchased: 789,473 common shares at the same C$19.00 price
• Gross proceeds: ≈C$15,000,000
• No underwriting commissions or fees paid for this placement.

• Subject to a four‑month hold period in Canada.

• Use of Proceeds

• Advance Guayabales Project (exploration, technical studies, underground development).
• Expand known gold deposits and pursue additional exploration/development opportunities.

• Working capital and general corporate purposes.

• Regulatory & Transactional Notes

• Both transactions pending final approval by the Toronto Stock Exchange and NYSE American.
• Private placement qualifies as a “related party transaction” under MI 61‑101; exemption from formal valuation/minority shareholder approval because fair market value <25 % of market cap.

• No material change report filed within 21 days prior to closing, deemed reasonable for expeditious financing.

• Securities Law Disclaimer

• Shares not registered in the United States and may not be offered or sold there absent registration or exemption.

Notable Quotes

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