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Collective Mining Announces Investment and Early Exercise of Warrants by Agnico Eagle for Gross Proceeds of C$63.4 Million
Collective Mining Announces Investment and Early Exercise of Warrants by Agnico Eagle for Gross P...
About this update from Collective Mining Ltd
[{"type":"text","content":"\n\n\n\n Collective Mining Announces Investment and Early Exercise of Warrants by Agnico Eagle for Gross Proceeds of C$63.4 Million\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 14, 2025\n \n\n /CNW/ -\n \n Collective Mining Ltd.\n \n (NYSE: CNL) (TSX: CNL)\n \n (\"Collective\" or the \"Company\")\n \n is pleased to announce that it has entered into an agreement with Agnico Eagle Mines Limited (\"Agnico Eagle\") pursuant to which Agnico Eagle has agreed to subscribe for 4,741,984 common shares in the capital of the Company (the \"Shares\") at a price of\n \n C$11.00\n \n per Share (the \"Offering\"). Closing of the Offering is conditional upon, among other things, Agnico Eagle concurrently exercising the common share purchase warrants of the Company (the \"Warrants\") it currently holds to acquire an additional 2,250,000 Shares at a price of\n \n C$5.01\n \n per Share. In total, between the Offering and the exercise of the Warrants, the Company will receive gross proceeds of approximately\n \n $63.4 million\n \n . At Closing of the Offering, Agnico Eagle's ownership interest in the Shares is expected to increase to approximately 14.99%.\n \n\n\n Ari Sussman\n \n , Executive Chairman commented: \"I would like to thank Agnico Eagle for its additional support as we continue to advance our Guayabales Project.  The proceeds received will enable us to continue with our planned drill program and we look forward to releasing results in the near term.\"\n \n\n The proceeds from the Offering and exercise of the Warrants are expected to be used for exploration on the Company's properties in\n \n Colombia\n \n and for general working capital purposes. Closing of the Offering is also subject to, among other things, the receipt of regulatory approvals, including approval of the Toronto Stock Exchange and acceptance by NYSE American, and is expected to close two business days following receipt of such approval.\n \n\n\n About Collective Mining Ltd.\n \n\n\n To see our latest corporate presentation and relate...