Core Viewpoint - Collective Mining Ltd. has entered into an agreement with Agnico Eagle Mines Limited for a subscription of 4,741,984 common shares at C63.4 million from the offering and the exercise of existing warrants [1][2]. Group 1: Financial Details - Agnico Eagle will acquire 4,741,984 shares at C5.01 per share [1]. - The total gross proceeds from the offering and the exercise of the warrants will be approximately $63.4 million [1]. - Following the closing of the offering, Agnico Eagle's ownership interest in Collective Mining is expected to increase to approximately 14.99% [1]. Group 2: Use of Proceeds - The proceeds from the offering and the exercise of the warrants will be utilized for exploration on the company's properties in Colombia and for general working capital purposes [2]. - The company plans to continue its drill program at the Guayabales Project, with results expected to be released in the near term [2]. Group 3: Company Background - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects located in Caldas, Colombia [4]. - The company's flagship project, Guayabales, is anchored by the Apollo system, which is characterized by large-scale, bulk-tonnage, and high-grade mineralization [5]. - Management and insiders own approximately 36% of the outstanding shares, indicating alignment with shareholders [6].
Collective Mining Announces Investment and Early Exercise of Warrants by Agnico Eagle for Gross Proceeds of C$63.4 Million