Collective Mining Announces Agnico Eagle Mines Limited's Intention of Exercising its Participation Rights

Executive Summary

• Agnico Eagle Mines Limited has indicated it will exercise its participation rights to purchase 789,473 Common Shares of Collective Mining Ltd. at C$19.00 per share.
• The subscription represents a 14.64% ownership stake in Collective after the concurrent C$125 million “bought‑deal” public offering and private placement.
• The private placement will close concurrently with the public offering, subject to TSX/NYSE American approvals and completion of definitive documentation.

Key Details

• Transaction: Private placement of 789,473 Common Shares to Agnostic Eagle Mines Limited (the “Strategic Investor”).
• Issue Price: C$19.00 per Common Share.
• Resulting Ownership: Approximately 14.64% of Collective’s issued and outstanding Common Shares post‑offering (assuming no underwriter over‑allotment).
• Public Offering Context: The private placement is tied to a C$125 million “bought deal” public offering led by BMO Capital Markets and Scotiabank, with the same closing date.
• Regulatory Status: Subject to approval/authorization of the Toronto Stock Exchange and NYSE American; also a related‑party transaction under MI 61‑101 but exempt from formal valuation/minority shareholder approval (fair market value < 25% of market cap).
• Material Change Reporting: Collective expects to file a material change report ≤ 21 days before closing, as required for the related‑party transaction.
• U.S. Securities Law Disclaimer: Shares are not and will not be registered under U.S. securities laws; they may not be offered or sold to U.S. persons absent an exemption.
• Use of Proceeds (Implied): To fund the concurrent public offering and provide additional financing flexibility for Collective’s exploration programs.

Notable Quotes

(No direct quotes were provided in the release.)