On March 20, 2025, Agnico Eagle Mines Limited completed a strategic investment in Collective Mining Ltd. through a non-brokered private placement and concurrent warrant exercise, for total consideration of approximately C$63.4 million. The investment was initially announced on March 17, 2025. Agnico Eagle subscribed for 4,741,984 common shares at C$11.00 per share, contributing C$52.2 million, and concurrently exercised 2,250,000 previously held common share purchase warrants at C$5.01 per share, adding C$11.3 million.

Upon closing, Agnico Eagle increased its ownership to approximately 14.99% of Collective’s issued and outstanding common shares on a non-diluted basis. In connection with the transaction, the Investor Rights Agreement between the companies—originally signed in February 2024—was amended to raise Agnico Eagle’s participation and top-up rights from 9.99% to 14.99% on a partially diluted basis, aligning with its new ownership level.

The investment aligns with Agnico Eagle’s strategy of acquiring strategic toehold positions in early-stage, high-potential gold exploration assets. The company cited the strong geological prospects of Collective’s Colombian project and its management’s proven track record as key investment drivers.

Cassels Brock & Blackwell LLP acted as legal advisor to Collective Mining Ltd.