Collective Mining Announces Closing of Investment and Early Exercise of Warrants for Gross Proceeds of C$63.4 Million

TORONTO, March 20, 2025 /PRNewswire/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce the closing of Agnico Eagle Mines Limited's ("Agnico Eagle") investment in Collective pursuant to which Agnico Eagle subscribed for 4,741,984 common shares in the capital of the Company (the "Shares") at a price of C$11.00 per Share for aggregate consideration of approximately C$52.1 million (the "Offering"). Concurrently with the closing of the Offering, Agnico Eagle exercised all of the common share purchase warrants of Collective (each, a "Warrant") it held to acquire an additional 2,250,000 Shares at a price of C$5.01 per Share for aggregate consideration of C$11,272,500. On closing of the Offering and following exercise of the Warrants, Agnico Eagle's ownership interest in the Shares increased to approximately 14.99%.

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