Collective Metals Closes First Tranche of Flow Through Private Placement Financing
COLLECTIVE METALS INC. (CSE: COMT) (OTC: CLLMF) (FSE: TO1) announces that further to its March 2, 2026 news release, the Company has closed the first tranche of its non-brokered private placement of flow-through units for aggregate gross proceeds in this first tranche of $1,075,000. The Company has issued 5,375,000 FT Units at a price of $0.20 per FT Unit, with each FT Unit comprised of one (1) common share of the Company issued on a flow-through basis under the Income Tax Act (Canada) and one half of one Common Share purchase warrant. Each Warrant entitles the holder to purchase one Common Share of the Company at a price of $0.25 for a period of 24 months from the date of issuance.
The gross proceeds from the sale of the FT Shares will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Company’s Rocas Uranium Project in Saskatchewan, Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units effective December 31, 2026.
In connection with the first tranche closing, an aggregate of $67,750 was paid in cash and a total of 376,250 finder’s warrants were issued as finder’s fees. Each Finder’s Warrant entitles the holder thereof to acquire one Common Share at a price of $0.25 per Finder’s Warrant Share for a period of 24 months from the date of issuance.
All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day.
The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United St ates or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Collective Metals
Collective Metals Inc. is a resource exploration company specializing in critical and precious metals exploration in North America.
The Company’s Rocas project comprises 4,002 hectares, located 75 kilometers southwest of the Key Lake Mine and Mill facilities along Highway 914, and approximately 72 kilometers south of the present-day margin of the Athabasca Basin. The Project hosts several uranium showings, including historical mineralized outcrop grab samples along approximately 900 metres of strike length, grading up to 0.5 wt.% U3O81. Notably, none of the historical uranium occurrences have been drill-tested.
