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Collective Mining Announces Closing of C$18.9 Million Strategic Investment
Collective Mining Announces Closing of C$18.9 Million Strategic Investment Canada NewsW...
About this update from Collective Mining Ltd
[{"type":"text","content":"\n \n \n \n Collective Mining Announces Closing of C$18.9 Million Strategic Investment\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 4, 2024\n \n \n /CNW/ - Further to its news release dated\n \n February 26, 2024\n \n ,\n \n Collective Mining Ltd.\n \n (TSX: CNL) (OTCQX: CNLMF) (FSE: GG1) (\"Collective\" or the \"Company\") is pleased to announce the closing of a strategic investment by a single purchaser (the \"Purchaser\") on a non-brokered private placement basis (the \"Offering\") consisting of the sale of 4,500,000 units (each a \"Unit\"), at a price of\n \n $4\n \n .20 per Unit for gross proceeds of\n \n C$18.9 million\n \n . Each Unit was comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share (a \"Warrant Share\"), subject to standard anti-dilution provisions, at a price of\n \n $5.01\n \n per Warrant Share exercisable until\n \n 5:00 p.m.\n \n (\n \n Toronto\n \n time) on the date that is 36 months following the closing date of the Offering (the \"Warrant Term\"), provided, however, that should the closing price at which the Common Shares trade equal or exceed\n \n $6.00\n \n for 20 consecutive trading days following the date that is 24 months after the Closing Date, the Corporation may accelerate the Warrant Term to the date which is 30 trading days following the date a notice is provided to holders of Warrants and a press release is issued by the Corporation announcing the accelerated Warrant Term.\n \n \n \n \n \n \n \n \n \n In connection with the Offering, the Company and the Purchaser entered into an investor rights agreement, pursuant to which the Purchaser is entitled to certain rights, provided the Purchaser maintains certain ownership thresholds in the Company, including: (a) the right to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to main...