BOSTON – Troutman Pepper Locke advised Collective Mining, Ltd. (NYSE: CNL; TSX: CNL), a gold, silver, copper, and tungsten exploration company with projects in Caldas, Colombia, in the close of its upsized bought deal public offering of 6,600,000 common shares at C$19 per share for aggregate gross proceeds of C$125.4 million. In addition to the public offering, Collective Mining completed a non-brokered private placement with Agnico Eagle Mines Limited, whereby Agnico purchased 789,473 shares at the issue price for gross proceeds of approximately C$15 million, pursuant to the exercise of its participation rights in equity financings of the concurrent private placement. For more information, see the press release.
Collective Mining intends to use the net proceeds from the public offering and the concurrent private placement to fund ongoing work programs to advance the Guayabales Project, including further investment in exploration activities, technical studies, and underground development on the Guayabales Project to expand the known gold deposits; to pursue other exploration and development opportunities; and for working capital and general corporate purposes.
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