On March 20, 2025, Collective Mining Ltd. completed a non-brokered private placement pursuant to which Agnico Eagle Mines Limited subscribed for 4,741,984 common shares of Collective at a price of $11.00 per share for aggregate consideration of approximately $52.1 million.
Concurrently with the closing of the offering, Agnico Eagle exercised all of the common share purchase warrants of Collective it held to acquire an additional 2,250,000 shares at a price of $5.01 per share for aggregate consideration of approximately $11.3 million.
Upon closing of the offering and following exercise of the warrants, Agnico Eagle’s ownership interest in the shares of Collective increased to approximately 14.99%.
Cassels acted for Collective.