Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF)
(“
Collective” or the “
Company”)
is pleased to announce that is has closed its previously announced
“bought deal” offering of units of the Company (the
“
Units”) for aggregate gross proceeds of
approximately $10.7 million (the “
Offering”). The
Offering was conducted by a syndicate of underwriters led by Clarus
Securities Inc., and including BMO Nesbitt Burns Inc. and TD
Securities Inc. (collectively, the
“
Underwriters”), and consisted of the sale of
4,783,400 Units (including the partial exercise of the
over-allotment option) at a price of $2.25 per Unit.
Each Unit was comprised of one common share in
the capital of the Company (“Common
Share”) and one-half of one Common Share purchase
warrant (each whole Common Share purchase warrant, a
“Warrant”). Each Warrant entitles the holder
thereof to acquire one Common Share at a price of $3.25 until April
25, 2024.
The net proceeds from the Offering are expected
to be used to fund the Company’s recommended stage two exploration
programme at its Guayabales Project, and for other general
corporate purposes, as more fully described in the prospectus
supplement (the “Prospectus Supplement”) of the
Company dated October 19, 2022.
The securities issued pursuant to the Offering
were qualified for distribution pursuant to the Prospectus
Supplement and a short form base shelf prospectus (the
“Base Shelf Prospectus”) dated November 9, 2021,
filed in each of the provinces and territories of Canada, other
than Quebec, and offered and sold elsewhere outside of Canada on a
private placement basis. The Prospectus Supplement, Base Shelf
Prospectus, and the documents incorporated by reference therein,
are available on the Company’s issuer profile on SEDAR at
www.sedar.com.
In connection with the completion of the
Offering, the Underwriters received a cash commission of
approximately $554,000.
Certain directors, management and significant
shareholders of the Company (the “Insiders”)
purchased an aggregate of 773,500 Units pursuant to the Offering.
Participation by the Insiders in the Offering was considered a
“related party transaction” pursuant to Multilateral Instrument 61-
101 – Protection of Minority Security Holders in Special
Transactions (“MI 61-101”). The Company was exempt
from the requirements to obtain a formal valuation or minority
shareholder approval in connection with the Insiders’ participation
in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI
61-101. A material change report in connection with the
participation of Insiders in the Offering will be filed less than
21 days in advance of the closing of the Offering, which the
Company deemed reasonable in the circumstances so as to be able to
avail itself of potential financing opportunities and complete the
Offering in an expeditious manner.
The securities referred to in this news release
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities
Act”), or any state securities laws and may not be offered
or sold within the United States or to, or for the account or
benefit of, “U.S. Persons” (as such term is defined in Regulation S
under the U.S. Securities Act) absent such registration or an
applicable exemption from the registration requirements of the U.S.
Securities Act and applicable state securities laws. This news
release does not constitute an offer for sale of securities for
sale, nor a solicitation for offers to buy any securities. Any
public offering of securities in the United States must be made by
means of a prospectus containing detailed information about the
company and management, as well as financial statements.
About Collective Mining Ltd.
To see our latest corporate presentation and
related information, please visit www.collectivemining.com.
Collective Mining is an exploration and
development company focused on identifying and exploring
prospective mineral projects in South America. Founded by the team
that developed and sold Continental Gold Inc. to Zijin Mining for
approximately $2 billion in enterprise value, the mission of the
Company is to repeat its past success in Colombia by making
significant new mineral discoveries and advance the projects to
production. Management, insiders and close family and friends own
nearly 45% of the outstanding shares of the Company and as a
result, are fully aligned with shareholders.
The Company currently holds an option to earn up
to a 100% interest in two projects located in Colombia. As a result
of an aggressive exploration program at its flagship Guayabales
project, a total of seven major targets have been defined. The Main
Breccia discovery within the Apollo target is the most important to
date and is characterized by bulk tonnage, high-grade copper-silver
gold mineralization with highlight drill results including: 207.15
metres @ 2.68g g/t AuEq, 265.75 metres at 2.44 g/t AuEq and 237.7
metres at 2.88 g/t AuEq. Other grassroots discoveries include
near-surface discovery holes yielding 301.9 metres at 1.11 g/t AuEq
at the Olympus target, 163 metres at 1.33 g/t AuEq at the Donut
target, and 102.2m @ 1.53 g/t AuEq at the Trap target. At the San
Antonio project, the Company intersected, from surface, 710 metres
at 0.53 AuEq. (See related press releases on our website for AuEq
calculations and our press releases dated August 10, September 13,
and October 6, 2022, respectively, for previously announced
intercepts.). The Company’s fully funded, 20,000 metre drill
program for 2022 is ongoing with a significant number of assay
results expected through the remainder of the year.
Qualified Person (QP) and NI 43-101
Disclosure
David J Reading is the designated Qualified
Person for this news release within the meaning of National
Instrument 43-101 – Standards of Disclosure for Mineral Projects
and has reviewed and verified that the technical information
contained herein is accurate and approves of the written disclosure
of same. Mr. Reading has an MSc in Economic Geology and is a Fellow
of the Institute of Materials, Minerals and Mining and of the
Society of Economic Geology (SEG).
Contact Information
Collective Mining Ltd. Steven Gold, Vice
President, Corporate Development and Investor RelationsTel. (416)
648-4065
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of the applicable
Canadian and U.S. securities legislation. All statements, other
than statements of historical fact, are forward-looking statements
and are based on expectations, estimates and projections as at the
date of this news release. Any statement that involves discussion
with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events or performance
(often, but not always using phrases such as “plans”, “expects”,
“is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates”, or “believes” or variations (including
negative variations) of such words and phrases, or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will” be taken, occur or be achieved) are not statements of
historical fact and may be forward-looking statements. In this news
release, forward-looking statements relate, among other things, to:
the anticipated use of the net proceeds from the Offering
therefrom; anticipated advancement of mineral properties or
programs; future operations; future growth potential of Collective;
and future development plans.
These forward-looking statements, and any
assumptions upon which they are based, are made in good faith and
reflect our current judgment regarding the direction of our
business. Management believes that these assumptions are
reasonable. Forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information: risks related to the speculative nature of the
Company’s business; the Company’s formative stage of development;
the impact of COVID19 on the timing of exploration and development
work; the Company’s financial position; possible variations in
mineralization, grade or recovery rates; actual results of current
exploration activities; conclusions of future economic evaluations;
fluctuations in general macroeconomic conditions; fluctuations in
securities markets; fluctuations in spot and forward prices of
gold, precious and base metals or certain other commodities;
fluctuations in currency markets; change in national and local
government, legislation, taxation, controls regulations and
political or economic developments; risks and hazards associated
with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or
unexpected formation pressures, cave-ins and flooding); inability
to obtain adequate insurance to cover risks and hazards; the
presence of laws and regulations that may impose restrictions on
mining; employee relations; relationships with and claims by local
communities and indigenous populations; availability of increasing
costs associated with mining inputs and labour; the speculative
nature of mineral exploration and development (including the risks
of obtaining necessary licenses, permits and approvals from
government authorities); and title to properties. Such factors are
described in detail in the Prospectus Supplement and the documents
incorporated by reference therein.
Forward-looking statements contained herein are
made as of the date of this news release and the Company disclaims
any obligation to update any forward-looking statements, whether as
a result of new information, future events or results, except as
may be required by applicable securities laws. There can be no
assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements and there may
be other factors that cause results not to be anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking information.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
Collective Mining (TSXV:CNL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Collective Mining (TSXV:CNL)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024