Collective Mining Ltd announced a a non-brokered private placement of 4,500,000 units at a price of CAD 4.20 per Unit for gross proceeds of CAD 18,900,000 on February 26, 2024. The transaction included participation from single investor. Each Unit will be comprised of one common share and one-half of one Common Share purchase warrant.

. Each Warrant will entitle the holder thereof to acquire one Common Share, subject to standard anti-dilution provisions, at a price of CAD 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 provided, however, that should the closing price at which the Common Shares trade equal or exceed CAD 6.00 for 20 consecutive trading days following the date that is 24 months after the Closing Date. Closing of the Offering is subject to the receipt of regulatory approvals, including approval of the TSX, and is expected to close two business days following receipt of such approval.