Collective Mining Ltd T.CNL

Collective Mining Announces C$18.9 Million Investment

[Betteryear2]

TORONTO, Feb. 26, 2024 /CNW/ - Collective Mining Ltd. (TSX: CNL) (OTCQX: CNLMF) (FSE: GG1) ("Collective" or the "Company") is pleased to announce 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 $4.20 per Unit for gross proceeds of C$18.9 million. Each Unit will be 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 $5.01 per Warrant Share exercisable until 5:00 p.m. (Toronto 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 $6.00 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.

Collective Mining Announces C$18.9 Million Investment by a Strategic Investor (newswire.ca)