Collective Mining Announces Closing of C$18.9 Million Strategic Investment

TORONTO, March 4, 2024 /CNW/ – Further to its news release dated February 26, 2024, Collective Mining Ltd. (TSX: CNL) (OTCQX: CNLMF) (FSE: GG1) (“Collective” or the “Company”) is pleased to announce the closing of a strategic investment by a single purchaser (the “Purchaser”) on a non-brokered private placement basis (the “Offering”) consisting of the sale of 4,500,000 units (each a “Unit”), at a price of $4.20 per Unit for gross proceeds of C$18.9 million. Each Unit was comprised of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share (a “Warrant Share”), subject to standard anti-dilution provisions, at a price of $5.01 per Warrant Share exercisable until 5:00 p.m. (Toronto time) on the date that is 36 months following the closing date of the Offering (the “Warrant Term”),…