Collective Mining Announces Proceeds of $13.5 Million from Warrant Exercise

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce that it has received $13.5 million as a result of the exercise of common share purchase warrants of the Company (" Warrants ") following the acceleration of the expiry time of the Warrants. The Warrants had an exercise price of $2.00 and were originally issued on May 20, 2021 following the completion of the Company's qualifying transaction on the TSX Venture Exchange. The holders of the Warrants had 30 trading from the date of the notice of acceleration to exercise their Warrants. All remaining Warrants were cancelled as of 4:00 p.m. (Toronto time) on August 9, 2021. The Company is now fully funded through at least 2022 with a cash balance of approximately $26 million.

About Collective Mining

Collective is an exploration and development company focused on identifying and exploring prospective gold projects in South America. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia: (i) the San Antonio project; and (ii) the Guayabales project. The 3,780-hectare San Antonio Project is in a historical gold district in the Caldas department of Colombia. An initial drilling program was recently completed at the project with first assay results anticipated in late Q3, 2021. The 3,333-hectare Guayabales Project is also located in the mining friendly Caldas department of Colombia. The Guayabales Project is currently undergoing aggressive surface exploration and a maiden greenfields drilling program is expected to begin in late Q3, 2021.

Contact Information

Collective Mining Ltd.
Paul Begin, Chief Financial Officer
Tel. (416) 451-2727

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the use of proceeds from the exercise of the Warrants, the maiden drill program, including timing of results, and Collective's future and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. 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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Collective Mining

Collective Mining

The Continental Gold Team Developing Highly Prospective Mineral Projects in the Prolific Middle Cauca Belt in Colombia

The Continental Gold Team Developing Highly Prospective Mineral Projects in the Prolific Middle Cauca Belt in Colombia Keep Reading...
Gold bars on financial charts and a notebook.

Top 5 ASX Gold Stocks in 2026

The gold price may have receded from the new all-time high above AU$6,860.28 per ounce set in Q1, but the yellow metal is still trading at historic highs in the second quarter. The gold bull market has been well-supported by a number of factors. Among them is the pervading geopolitical turmoil... Keep Reading...
A pair of white-gloved hands holds a gold bar over a stack of gold bars with a vault in the background.

WGC: Central Banks Plan to Boost Gold Allocations as US Dollar Outlook Declines

Global central banks plan to increase their gold reserves while reducing their exposure to the US dollar over the next five years, according to the World Gold Council's (WGC) 2026 Central Bank Gold Reserves survey.The annual survey, which drew a record 76 responses from reserve managers between... Keep Reading...
Emperor Metals

Emperor Metals Returns 15.0 Meters of 61.5 g/t Gold Including 2.4 Meters of 369.6 g/t Gold

Visible gold observed in multiple zones within the intercept.
Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) ("Emperor") is pleased to report on the recent assay release of high-grade gold in DQ26-20 as well as progress of its 2026 exploration campaign at its Duquesne West Project, integrating +15,000 meters of new drilling with 8,000 meters of... Keep Reading...
Peter Grandich, gold bars.

Peter Grandich: Gold, Silver Price Washout — What's Next, My Strategy

Peter Grandich of Peter Grandich & Co. weighs in on recent gold and silver price declines, saying that he's now ready to start buying back into the sector. "In the last couple of days I have suggested that we're finally seeing the signs of a classic washout, heavy correction, in a mega bull... Keep Reading...
Toronto Stock Exchange building.

Hemlo Mining Debuts on TSX Main Board

Hemlo Mining (TSX:HMMC,OTCQX:HMMCF) began trading on the TSX's senior board on Monday (June 15), stepping up from the venture market following its first full quarter operating the Hemlo gold mine.Hemlo Mining’s common shares were delisted from the TSX Venture Exchange as the market... Keep Reading...

Interactive Chart

Latest Press Releases

Related News