11:16 AM EDT, 03/20/2025 (MT Newswires) -- Collective Mining ( CNL ) said Thursday it closed Agnico Eagle Mines' investment, with Agnico Eagle subscribing for about 4.74 million common shares for roughly CA$52.1 million ($36.3 million), or CA$11 apiece.

With the closing of the offering, Agnico Eagle exercised all of the common share purchase warrants it owned to buy an additional 2.25 million shares of Collective Mining ( CNL ) for CA$5.01 apiece, for a total consideration of about CA$11.3 million, increasing its stake in Collective to roughly 14.99%, the company added.

Collective said it intends to use the proceeds for exploration of its properties in Colombia and for general corporate purposes.

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