Collective Mining Announces Closing of Investment and Early Exercise of Warrants for Gross Proceeds of C$63.4 Million
Collective Mining (NYSE: CNL) has successfully closed a significant investment deal with Agnico Eagle Mines , raising total gross proceeds of C$63.4 million. The transaction consists of two parts: a C$52.1 million offering where Agnico Eagle subscribed for 4,741,984 common shares at C$11.00 per share, and the early exercise of warrants to acquire 2,250,000 additional shares at C$5.01 per share, generating C$11.27 million.
Following these transactions, Agnico Eagle's ownership in Collective Mining has increased to approximately 14.99%. The proceeds will fund exploration activities on the Company's Colombian properties and general working capital needs. The deal includes an amended investor rights agreement granting Agnico Eagle participation rights and board nomination privileges.
Collective Mining (NYSE: CNL) ha chiuso con successo un'importante operazione di investimento con Agnico Eagle Mines, raccogliendo un totale di C$63,4 milioni. La transazione è composta da due parti: un'offerta di C$52,1 milioni in cui Agnico Eagle ha sottoscritto 4.741.984 azioni ordinarie a C$11,00 per azione, e l'esercizio anticipato di warrant per acquisire ulteriori 2.250.000 azioni a C$5,01 per azione, generando C$11,27 milioni.
Dopo queste transazioni, la partecipazione di Agnico Eagle in Collective Mining è aumentata a circa 14,99%. I proventi saranno utilizzati per finanziare le attività di esplorazione nei progetti colombiani dell'azienda e per le esigenze generali di capitale circolante. L'accordo include una modifica al contratto di diritti degli investitori che concede ad Agnico Eagle diritti di partecipazione e privilegi di nomina nel consiglio di amministrazione.
Collective Mining (NYSE: CNL) ha cerrado con éxito un importante acuerdo de inversión con Agnico Eagle Mines, recaudando un total de C$63.4 millones. La transacción consta de dos partes: una oferta de C$52.1 millones en la que Agnico Eagle suscribió 4,741,984 acciones comunes a C$11.00 por acción, y el ejercicio anticipado de warrants para adquirir 2,250,000 acciones adicionales a C$5.01 por acción, generando C$11.27 millones.
Después de estas transacciones, la participación de Agnico Eagle en Collective Mining ha aumentado a aproximadamente 14.99%. Los ingresos se destinarán a financiar actividades de exploración en las propiedades colombianas de la empresa y a necesidades generales de capital de trabajo. El acuerdo incluye una modificación del contrato de derechos de los inversores que otorga a Agnico Eagle derechos de participación y privilegios de nominación en la junta directiva.
Collective Mining (NYSE: CNL)은 Agnico Eagle Mines와의 중요한 투자 계약을 성공적으로 체결하여 총 C$63.4 백만의 자금을 조달했습니다. 이 거래는 두 부분으로 구성되어 있습니다: Agnico Eagle이 C$11.00의 가격으로 4,741,984주를 구독한 C$52.1 백만의 공모와, C$5.01의 가격으로 추가 2,250,000주를 인수하기 위한 워런트의 조기 행사로 C$11.27 백만을 생성했습니다.
이 거래 이후 Agnico Eagle의 Collective Mining에 대한 소유권은 약 14.99%로 증가했습니다. 수익은 회사의 콜롬비아 자산에 대한 탐사 활동과 일반 운영 자본 필요를 충당하는 데 사용될 것입니다. 이 거래에는 Agnico Eagle에 참여권과 이사회 후보 지명 권한을 부여하는 수정된 투자자 권리 계약이 포함되어 있습니다.
Collective Mining (NYSE: CNL) a réussi à conclure un important accord d'investissement avec Agnico Eagle Mines, levant un produit brut total de C$63,4 millions. La transaction se compose de deux parties : une offre de C$52,1 millions dans laquelle Agnico Eagle a souscrit 4 741 984 actions ordinaires à C$11,00 par action, et l'exercice anticipé de bons de souscription pour acquérir 2 250 000 actions supplémentaires à C$5,01 par action, générant C$11,27 millions.
À la suite de ces transactions, la participation d'Agnico Eagle dans Collective Mining a augmenté à environ 14,99%. Les produits serviront à financer des activités d'exploration sur les propriétés colombiennes de la société et à répondre aux besoins généraux en fonds de roulement. L'accord comprend un amendement à l'accord de droits des investisseurs accordant à Agnico Eagle des droits de participation et des privilèges de nomination au conseil d'administration.
Collective Mining (NYSE: CNL) hat erfolgreich einen bedeutenden Investitionsvertrag mit Agnico Eagle Mines abgeschlossen und dabei insgesamt C$63,4 Millionen an Bruttoerlösen erzielt. Die Transaktion besteht aus zwei Teilen: einem Angebot über C$52,1 Millionen, bei dem Agnico Eagle 4.741.984 Stammaktien zu einem Preis von C$11,00 pro Aktie gezeichnet hat, und der vorzeitigen Ausübung von Warrants zur Erwerbung von 2.250.000 zusätzlichen Aktien zu C$5,01 pro Aktie, was C$11,27 Millionen einbringt.
Nach diesen Transaktionen hat sich der Anteil von Agnico Eagle an Collective Mining auf etwa 14,99% erhöht. Die Erlöse werden zur Finanzierung von Explorationsaktivitäten in den kolumbianischen Liegenschaften des Unternehmens und für allgemeine Betriebskapitalbedarfe verwendet. Der Deal umfasst eine geänderte Investorenrechtevereinbarung, die Agnico Eagle Teilnahme- und Nominierungsrechte im Vorstand gewährt.
- Secured substantial C$63.4 million investment from major mining company Agnico Eagle
- Early warrant exercise at C$5.01 demonstrates investor confidence
- Strategic partnership with Agnico Eagle strengthened through increased ownership to 14.99%
- Secured funding for Colombian exploration activities
- Share dilution from issuance of approximately 7 million new shares
Insights
Collective Mining's announcement of a
The premium pricing of the primary share issuance at
The amended investor rights agreement giving Agnico board representation and maintained participation rights at the higher ownership threshold indicates potential for continued partnership. For an exploration company with a market cap of only
The capital infusion provides Collective with a robust treasury to accelerate exploration programs in Colombia without immediate dilution concerns. This significantly de-risks their near-term funding requirements and positions them for potential discoveries without financial constraints that typically challenge junior explorers.
The proceeds from the Offering and exercise of the Warrants are expected to be used for exploration on the Company's properties in
In connection with its initial investment in Collective on February 24, 2024, Agnico Eagle and Collective entered into an investor rights agreement (the "Investor Rights Agreement"), pursuant to which Agnico Eagle was granted certain rights, provided Agnico Eagle maintained certain ownership thresholds in Collective, including: (a) the right to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership in Collective at the time of such financing or acquire up to a
PowerOne Capital Markets Limited acted as an advisor to Collective in connection with the Offering.
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
The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company's objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modeled potentially high-grade sub-zones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth, expand the Trap system and drill a series of newly generated targets including Tower and X.
Management insiders own approximately
Information Contact:
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FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "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 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: anticipated use of proceeds from the Offering and the exercise of Warrants; the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; 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: planed use of proceeds from the Offering and the exercise of the Warrants; 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 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, 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-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 statements 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 statements.
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SOURCE Collective Mining Ltd.
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