Collective Mining Announces C$30 Million Bought Deal Financing
PRESS RELEASE
COLLECTIVE MINING ANNOUNCES C$30 MILLION BOUGHT DEAL FINANCING
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario, October 24, 2024 – Collective Mining Ltd. (NYSE: CNL, TSX: CNL) (“Collective”
or the “Company”) has announced today that it has entered into an agreement with BMO Capital
Markets as sole bookrunner on behalf of a syndicate of underwriters including Clarus Securities Inc. and
Scotia Capital, among others (collectively, the “Underwriters”), pursuant to which the Underwriters have
agreed to purchase, on “bought deal” basis, 6,000,000 common shares in the capital of the Company
(the “Common Shares”), at a price of C$5.00 per Common Share for gross proceeds of C$30 million (the
“Offering”). The Company has granted the Underwriters an option (the “Over-allotment Option”),
exercisable in whole or in part, to purchase up to an additional 900,000 Common Shares for a period of
30 days from and including the closing date of the Offering to cover over-allotments, if any, and for market
stabilization purposes. The Underwriters shall be under no obligation whatsoever to exercise the Over-
allotment Option in whole or in part. If the Over-allotment Option is exercised in full, the aggregate gross
proceeds of the Offering will be C$34.5 million. The offering is expected to close on or about October 31,
2024 and is subject to Collective receiving all necessary regulatory approvals.
The Company intends to use the net proceeds from the Offering to fund ongoing work programs to
advance the Guayabales Project, to pursue other exploration and development opportunities, and for
working capital and general corporate purposes.
The Common Shares will be offered by way of: (i) a prospectus supplement (the “Prospectus
Supplement”) to Collective’s short form base shel f prospectus dated December 4, 2023, which
Prospectus Supplement will be filed with the secu rities commissions and other similar regulatory
authorities in each of the provinces and territories of Canada, except Québec and Nunavut, within two
business days; (ii) in the United States or to or for the account or benefit of “U.S. persons” as defined by
Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), by
way of private placement pursuant to the exemption from registration provided for under Section 4(a)(2)
of U.S. Securities Act and the applicable securities la ws of any state of the United States; and (iii) in
jurisdictions outside of Canada and the United St ates as are agreed to by the Company and the
Underwriters on a private placement or equivalent basis.
When available, the Prospectus Supplement may be accessed for free on the System for Electronic
Document Analysis and Retrieval (“SEDAR+”) at www.sedarplus.ca. Alternatively, copies when
available, may be obtained upon request by contacti ng BMO Nesbitt Burns Inc. by mail at Brampton
Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, ON, L6S 6H2,
by telephone at 905-791-3151 Ext 4312, or by email at [email protected].
The securities being offered have not been, nor will t hey be, registered under the U.S. Securities Act,
and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press
release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2
billion in enterprise value, Collective is a copper , silver, gold and tungsten exploration company with
projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located
directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-
scale, bulk-tonnage and high-grade gold-silver-c opper-tungsten Apollo porphyry system. The
Company’s 2024 objective is to expand the Apollo system, step out along strike to expand the recently
discovered Trap system and make a new discovery at either the Tower, X or Plutus targets.
Management, insiders, a strategic investor and close family and friends own nearly 50% of the
outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company
is listed on the NYSE under the tradi ng symbol “CNL”, on the TSX under the trading symbol “CNL”, on
the FSE under the trading symbol “GG1”.
Investors and Media
Follow Executive Chairman Ari Sussman (@Ariski73) on X
Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and
(@collectivemining) on Instagram
Investors and Media
Paul Begin, Chief Financial Officer
+1 (416) 451-2727
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking stat ements” and “forward-looking information” within the
meaning of applicable securities legislation (collectiv ely, “forward-looking statements”). 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 ne ws release. Any statement that involves discussion
with respect to predictions, expectations, beliefs, pl ans, projections, objective s, assumptions, future
events or performance (often, but not always using ph rases 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: filing of the Prospectus Supplement; receipt of all regulatory approvals in
connection with the Offering; the completion of the Offering and the proposed use of the net proceeds
therefrom; the anticipated advanceme nt of mineral properties or programs; future operations; future
discoveries; 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 future events including the direction of our business.
Management believes that these assumptions are reasonable. Forward-looking statements involve
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 statements. Such factors
include, among others: risks related to the speculative nature of the Company’s business; the Company’s
formative stage of development; the Company’s financial position; possible variations in mineralization,
grade or recovery rates; actual re sults of current exploration activiti es; conclusions of future economic
evaluations; fluctuations in general macroeconomic c onditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold, prec ious 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, ca ve-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 associat ed with mining inputs and labour; the speculative
nature of mineral exploration and development (inc luding the risks of obtai ning necessary licenses,
permits and approvals from government authorities); and title to properties, as well as those risk factors
discussed or referred to in the annual information form of the Company dated March 27, 2024. 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-look ing 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 statements will pr ove 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 antici pated, estimated or intended. Accord ingly, readers should not place
undue reliance on forward-looking statements.