Collective Mining Announces Proceeds of $13.5 Million from Warrant Exercise
Press Release Aug 10, 2021
Toronto, Ontario – August 10, 2021 – Collective Mining Ltd. (TSXV:补偿中子测井) (“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 (“认股权证”) following the acceleration of the expiry time of the 认股权证. The 认股权证 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 认股权证 had 30 trading days from the date of the notice of acceleration to exercise their 认股权证. All remaining 认股权证 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 圣安东尼奥 project; and (ii) the Guayabales project. 3,780-hectare 圣安东尼奥 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. 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.
Collective Mining Ltd.
Paul Begin, Chief Financial Officer
电话. (416) 451-2727
This news release contains certain forward-looking statements, 包括, but not limited to, statements about the use of proceeds from the exercise of the 认股权证, the maiden drill program, 包括 timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “会”, “应该”, “可以”, “期望”, “计划”, “意愿”, “anticipate”, “相信”, “估计”, “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, 性能, 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.