Collective Mining Ltd. closes bought deal public offering and concurrent private placement for gross proceeds of $140 million

Led by

Andrew Powers

Partner

Toronto

Alex Bruvels

Partner

Toronto

Team Members

• Sam Kelley
• Wendy Wang
• Kathryn Walker

On October 8, 2025, Collective Mining Ltd. (the “Company”) completed an upsized “bought deal” public offering for aggregate gross proceeds of $125,400,000. The Company sold 6,600,000 common shares at a price of $19.00 per common share. The offering was conducted by a syndicate of underwriters led by BMO Capital Markets and Scotia Capital, as joint bookrunners, and included Clarus Securities Inc., Canaccord Genuity Corp., Roth Canada, Inc., Jett Capital Advisors, LLC, and Ventum Financial Corp.

Concurrently with the offering, the Company issued 789,473 common shares to Agnico Eagle Mines Limited (“Agnico”), upon the exercise of a participation right held by Agnico, for gross proceeds of approximately $15 million.

The Company is a Canadian mineral resource company with a long-term focus is on the acquisition, exploration, development and exploitation of mineral properties. The Corporation currently has two exploration projects: (i) the 4,455-hectare Guayabales project located in the Caldas department of Colombia, which hosts a large-scale, bulk-tonnage gold-silver-copper-tungsten system; and (ii) the 4,754-hectare San Antonio project also located in a historical gold district in the Caldas department of Colombia.

Miller Thomson advised the Underwriters with a team comprised of Andrew Powers, Alex Bruvels, Sam Kelley and Wendy Wang (Capital Markets/Securities), Kathryn Walker (Tax), along with the assistance of Jacqueline Rintjema and Sean Kim (Articling Students).