Collective Mining Reveals C$100M Bought Deal Financing

TORONTO, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Collective Mining Ltd. (NYSE:CNL, TSX:CNL) ("Collective" or the "Company") has announced today that it has entered into an agreement with BMO Capital Markets and Scotiabank as joint bookrunners on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on "bought deal" basis, 5,270,000 common shares in the capital of the Company (the "Common Shares"), at a price of C$19.00 per Common Share (the "Issue Price") for gross proceeds of approximately C$100 million (the "Offering"). The Company has granted the Underwriters an option (the "Over-allotment Option"), exercisable in whole or in part, to purchase up to an additional 790,500 Common Shares for a period of 30 days from and including the closing date of the Offering to cover over-allotments, if any, and for market stabilization purposes. The Underwriters shall be under no obligation whatsoever to exercise the Over-allotment Option in whole or in part. If the Over-allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately C$115 million. The Offering is expected to close on or about October 8, 2025 and is subject to Collective receiving all necessary regulatory approvals.

The Company intends to use the net proceeds from the Offering to fund ongoing work programs to advance the Guayabales Project, to pursue other exploration and development opportunities, and for working capital and general corporate purposes.