Collective Metals Announces Closing of Private Placement for Gross Proceeds of CDN $262,099.98

Collective Metals Announces Closing of Private Placement for Gross Proceeds of CDN $262,099.98

Benzinga
August 15, 2025

VANCOUVER, British Columbia, Aug. 15, 2025 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | OTC: CLLMF | FSE: TO1) (the "Company" or "Collective") is pleased to announce that is has closed its non-brokered private placement (the "Offering") previously announced on June 11, 2025 and has issued 4,368,333 units (each, a "Unit"), at a price of $0.06 per Unit, for aggregate gross proceeds of $262,099.98. Each Unit is comprised of one common share of the Company (each, a "Share") and one transferable common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to acquire one additional Share at an exercise price of $0.08 for a period of 24 months from the closing date.

The Company will use the proceeds from the Offering for general working capital purposes. No finder's fees were paid in connection with the Offering.

The Offering constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as a certain director of the Company (the "Insider") subscribed for an aggregate of 200,000 Units for aggregate proceeds of $12,000. The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 with respect to the Insider participation in the Offering as the fair market value of the consideration of the securities issued to the related party did not exceed 25% of the Company's market capitalization. The Company did not file a material change report in respect of the participation of the Insider in the Offering at least 21 days before closing of the Offering as the participation of the Insider was not determined at that time.

The Shares issued under the Offering will be subject to a statutory hold period expiring four months and one day from the date of issuance.

The securities issued pursuant to the Offering have not been, nor will they be, registered under the ...

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