07:48 AM EDT, 10/06/2025 (MT Newswires) -- Collective Mining Ltd. ( CNL ) said Monday that, further to announcing last week a C$125 million 'bought deal' public offering of common shares led by a syndicate of underwriters, Agnico Eagle Mines Limited ( AEM ) has indicated to CNL that it intends to exercise its participation right to subscribe for 789,473 common shares, at an issue price of C$19.00 each, that would result in Agnico holding 14.64% of the issued and outstanding common shares after giving effect to the public offering .

A statement noted the Common Shares to be issued to Agnico will be completed on a non-brokered private placement basis expected to close concurrently with the public offering.

The public offering and concurrent private placement are subject to the approval and authorization, as applicable, of the Toronto Stock Exchange and NYSE American. The concurrent private placement also remains subject to the settlement of definitive documentation.