On November 22, 2023, Collective Metals Inc. closed the transaction. The company issued 1,129,032 flow-through units at an issue price of CAD 0.31 per FT Unit for gross proceeds of CAD 349,999.92. Each FT Unit is comprised of one common share and one-half of one common share purchase warrant, with each Warrant exercisable to acquire one common share of the Company at a price of CAD 0.35 per Warrant Share for a period of 24 months from the date of issuance.

In connection with the closing, an aggregate of CAD 24,500 was paid in cash and a total of 79,032 finder?s warrants were issued as finder?s fees. Each Finder?s Warrant entitles the holder thereof to acquire one common share in the capital of the Company at a price of CAD 0.35 per Finder?s Warrant Share for a period of 24 months from the date of issuance. All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day.