Business

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

VANCOUVER, British Columbia, Aug. 15, 2025 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | OTC: CLLMF | FSE: TO1) (the “Company” or “Collective”) is pleased to announce that is has closed its non-brokered private placement (the “Offering”) previously announced on June 11, 2025 and has issued 4,368,333 units (each, a “Unit”), at a price of $0.06 per Unit, for aggregate gross proceeds of $262,099.98. Each Unit is comprised of one common share of the Company (each, a “Share”) and one transf

articleCollective Metals IncAugust 15, 20252/company/collective-metals-inc-formerly-was-foxyarctic-fox-minerals-corp-until-2023-03-10/news/collective-metals-announces-closing-private-210000664
Collective Metals Announces Closing of Private Placement for Gross Proceeds of CDN $262,099.98

About this update from Collective Metals Inc

[{"type":"image","alt":"Collective Metals Inc","displaySize":"","headline":null,"caption":"Collective Metals Inc","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":75,"url":"https://media.zenfs.com/en/globenewswire.com/406870543e7eee9491659312bd03ee2d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/on82.uu5k04vcKADwuxL7Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEwNTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/406870543e7eee9491659312bd03ee2d","width":300,"height":75}},"lazy":false},{"type":"text","content":"VANCOUVER, British Columbia, Aug. 15, 2025 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | OTC: CLLMF | FSE: TO1) (the “Company” or “Collective”) is pleased to announce that is has closed its non-brokered private placement (the “Offering”) previously announced on June 11, 2025 and has issued 4,368,333 units (each, a “Unit”), at a price of $0.06 per Unit, for aggregate gross proceeds of $262,099.98. Each Unit is comprised of one common share of the Company (each, a “Share”) and one transferable common share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to acquire one additional Share at an exercise price of $0.08 for a period of 24 months from the closing date.","length":707,"tagName":"p"},{"type":"text","content":"The Company will use the proceeds from the Offering for general working capital purposes. No finder’s fees were paid in connection with the Offering.","length":149,"tagName":"p"},{"type":"text","content":"The Offering constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as a certain director of the Company (the "Insider") subscribed for an aggregate of 200,000 Units for aggregate proceeds of $12,000. The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 with respect to the Insider participation in the Offering as the fair market value of the consideration of the securities issued to the related party did not exceed 25% of the Company's market capitalization. The Company did not file a material change report in respect of the participation of the Insider in the Offering at least 21 days befo...

More updates from Collective Metals Inc

COLLECTIVE METALS INC.The CompanyCompany