TORONTO, May 6, 2024
/CNW/ - Collective Mining Ltd. (TSX: CNL) (OTCQX: CNLMF)
(FWB: GG1) ("Collective" or the "Company") is pleased to
announce that it plans to list its common shares on the NYSE
American stock exchange ("NYSE American") to satisfy the appetite
of many U.S. retail and institutional investors seeking to add
exposure to Collective. In advance of listing on the NYSE American,
Collective will file a Form 40-F Registration Statement with the
United States Securities and Exchange Commission. Subject to the
review and approval of the listing application and satisfaction of
all applicable listing and regulatory requirements, the Company
expects its common shares to commence trading on the NYSE American
in Q3 2024.
The Company is also pleased to report that all of the
outstanding warrants, which expired on April
25, 2024 with a strike price of C$3.25 from the October
2022 financing, have been exercised for total gross proceeds
of C$7.8 million.
The Company is on schedule with its 2024 planned 40,000 metre
drilling program and has recently added a fifth drilling rig to the
Guayabales project. There is currently one rig drilling at the
Apollo system, one rig drilling at the Trap target, one rig
drilling at the Olympus target and two rigs turning at the Box
target.
About Collective Mining
Ltd.
To see our latest corporate presentation and related
information, please visit www.collectivemining.com
Founded by the team that developed and sold Continental Gold
Inc. to Zijin Mining for approximately $2
billion in enterprise value, Collective is a copper, silver,
gold and tungsten exploration company with projects in Caldas,
Colombia. The Company has options
to acquire 100% interests in two projects located directly within
an established mining camp with ten fully permitted and operating
mines.
The Company's flagship project, Guayabales, is anchored by the
Apollo system, which hosts the large-scale, bulk-tonnage and
high-grade copper-silver-gold-tungsten Apollo porphyry system. The
Company's 2024 objective is to expand the Apollo system, prove that
the recent discoveries at the Olympus and Trap targets evolve into
large scale systems and make a new discovery at either the Box,
Tower or X targets.
Management, insiders, a strategic investor and close family and
friends own nearly 50% of the outstanding shares of the Company and
as a result, are fully aligned with shareholders. The Company is
listed on the TSX under the trading symbol "CNL", on the OTCQX
under the trading symbol "CNLMF" and on the FSE under the trading
symbol "GG1".
To see our latest corporate presentation and related
information, please visit www.collectivemining.com.
Information Contact:
Follow Executive Chairman Ari
Sussman (@Ariski73) on X
Follow Collective Mining (@CollectiveMini1) on
X, (Collective Mining) on LinkedIn, and
(@collectivemining) on Instagram
FORWARD-LOOKING
STATEMENTS
This news release contains "forward-looking information" within
the meaning of the applicable Canadian securities legislation. All
statements, other than statements of historical fact, are
forward-looking information and are based on expectations,
estimates and projections as at the date of this news release. Any
statement that involves discussion with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often, but not always using phrases
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved)
are not statements of historical fact and may be forward-looking
information. In this news release, forward-looking information
relate, among other things, to: anticipated advancement of mineral
properties or programs; future operations; future recovery metal
recovery rates; future growth potential of Collective; and future
development plans.
These forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current
judgment regarding the direction of our business. Management
believes that these assumptions are reasonable. Forward-looking
information involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include, among
others: risks related to the speculative nature of the Company's
business; the Company's formative stage of development; the
Company's financial position; possible variations in
mineralization, grade or recovery rates; actual results of current
exploration activities; conclusions of future economic evaluations;
fluctuations in general macroeconomic conditions; fluctuations in
securities markets; fluctuations in spot and forward prices of
gold, precious and base metals or certain other commodities;
fluctuations in currency markets; change in national and local
government, legislation, taxation, controls regulations and
political or economic developments; risks and hazards associated
with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or
unexpected formation pressures, cave-ins and flooding); inability
to obtain adequate insurance to cover risks and hazards; the
presence of laws and regulations that may impose restrictions on
mining; employee relations; relationships with and claims by local
communities and indigenous populations; availability of increasing
costs associated with mining inputs and labour; the speculative
nature of mineral exploration and development (including the risks
of obtaining necessary licenses, permits and approvals from
government authorities); and title to properties, as well as those
risk factors discussed or referred to in the annual information
form of the Company dated April 7,
2022. Forward-looking information contained herein are made
as of the date of this news release and the Company disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or results, except as may
be required by applicable securities laws. There can be no
assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements and there may
be other factors that cause results not to be anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking information.
SOURCE Collective Mining Ltd.