Collective Metals Announces Closing of Private Placement for Gross Proceeds of CDN $262,099.98

Core Points - Collective Metals Inc. has successfully closed a non-brokered private placement, issuing 4,368,333 units at a price of $0.06 per unit, resulting in total gross proceeds of $262,099.98 [1] - Each unit consists of one common share and one transferable common share purchase warrant, with the warrant allowing the purchase of an additional share at $0.08 for 24 months [1] - The proceeds from the offering will be utilized for general working capital purposes [2] Related Party Transaction - The offering is classified as a "related party transaction" as a director of the company subscribed for 200,000 units for $12,000 [3] - The company relied on exemptions from certain requirements of Multilateral Instrument 61-101 due to the fair market value of the securities issued not exceeding 25% of the company's market capitalization [3] - A material change report was not filed regarding the insider's participation as it was not determined prior to the offering's closing [3] Securities and Regulations - Shares issued under the offering will be subject to a statutory hold period of four months and one day from the issuance date [4] - The securities have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an exemption [5] Company Overview - Collective Metals Inc. specializes in precious metals exploration in North America, with the Whitemud Project comprising 381 mining claims over 7,775 hectares [6]