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...
Flow Metals to Acquire the Monster IOCG Project in Yukon

Flow Metals to Acquire the Monster IOCG Project in Yukon

Flow Metals Corp. (CSE: FWM) ("Flow Metals" or the "Company") is pleased to report that it has entered into an option agreement dated February 9, 2026 (the "Option Agreement") with Go Metals Corp. ("Go Metals") to acquire the Monster IOCG project (the "Monster Project"), located approximately 90... Keep Reading...
Investor Presentation

Investor Presentation

Aurum Resources (AUE:AU) has announced Investor PresentationDownload the PDF here. Keep Reading...
Gold bars, coins, and cash on a table against a golden-yellow background.

Dr. Adam Trexler: Physical Gold Market Broken, Crisis Unfolding Now

Dr. Adam Trexler, founder and president of Valaurum, shares his thoughts on gold, identifying a key issue he sees developing in the physical market. "There's a crisis in the physical gold market," he said, explaining that sector participants need to figure out how to serve investors who want to... Keep Reading...
Gold cube labeled "buy" and "sell," stock chart in background.

Trevor Hall: Bull Markets Don’t Always Mean Big Returns

Clear Commodity Network CEO and Mining Stock Daily host Trevor Hall opened his talk at the Vancouver Resource Investment Conference (VRIC) with a strong message: It is still possible to go broke in a bull market.“I want to start with the simple but uncomfortable truth: most investors don't lose... Keep Reading...
Miner inspecting ore rocks on a conveyor in New South Wales, Australia.

How Near-term Production is Changing the Junior Gold Exploration Model

Junior gold companies have traditionally been defined by exploration: identifying prospective ground, drilling to delineate a resource and, ideally, monetising that discovery through a sale or joint venture with a larger producer. While this model has delivered success in the past, changing... Keep Reading...
Sunset view to railway carriages for transportation of bauxite ore on train tracks

Gold Exploration in Guinea: An Emerging Opportunity in West Africa

While much of West Africa’s gold exploration spotlight has historically fallen on countries like Ghana and Mali, Guinea is increasingly emerging as a quiet outlier — a country with proven gold endowment, expansive underexplored terrain and a growing number of active exploration programs. Despite... Keep Reading...

Interactive Chart

Latest Press Releases

Related News