Collective Metals raises $1.075 million in flow-through financing

Collective Metals Inc. (CSE: COMT) completed the first tranche of its non-brokered private placement, raising $1.075 million through the sale of 5.375 million flow-through units at $0.20 per unit.

Each unit consists of one flow-through common share and half of one warrant. The warrants allow holders to purchase additional common shares at $0.25 each within 24 months of issuance.

The Vancouver-based exploration company will use proceeds for Canadian exploration expenses at its Rocas Uranium Project in Saskatchewan. The expenditures will qualify as flow-through mining expenditures under Canada's Income Tax Act and will be renounced to subscribers effective December 31, 2026.

The company paid $67,750 in finder's fees and issued 376,250 finder's warrants as part of the transaction. The finder's warrants carry the same $0.25 exercise price and 24-month term as the unit warrants.

All securities issued are subject to a four-month and one-day statutory hold period. The securities have not been registered under U.S. securities laws.

The Rocas project spans 4,002 hectares located 75 kilometers southwest of the Key Lake Mine and Mill facilities. The project contains uranium showings with historical grab samples grading up to 0.5% U3O8 along 900 meters of strike length, though none of the uranium occurrences have been drill-tested.

Collective Metals also trades on the OTC market under ticker CLLMF and on the Frankfurt Stock Exchange as TO1.

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