COLLECTIVE METALS INC. (CSE: COMT) (OTC: CLLMF) (FSE: TO1) is pleased to announce that the Company has closed the oversubscribed non-brokered private placement of units of the Company by the issuance of 5,728,381 Units at $0.24 per Unit for gross proceeds of $1,374,811.28.

Each Unit consisted of one common share in the capital of the Company and one whole common share purchase warrant. Each Warrant entitles the holder to purchase one additional Share at a price of $0.35 on or before June 23, 2025.

The Company has paid eligible finders a cash commission in the amount of $92,400.81, being 7% of the aggregate proceeds from the sale of Units to purchasers introduced to the Company by the Finders and issued an aggregate of 385,003 common share purchase warrants, being 7% of the number of Units sold under the Offering to purchasers introduced by the Finders. Each Finder’s Warrant entitles the holder thereof to purchase one Share at a price of $0.35 per Share on the same terms as the Warrants.

Christopher Huggins, CEO of Collective Metals announced, “The Company received strong interest in this private placement and the oversubscription is a testament to our team. The Company is in a strong cash position, which will not only allow us to further advance our existing properties, including our flagship property, the Princeton Project, but also continue to pursue new acquisitions and opportunities.”

All securities issued in connection with the Offering are subject to a statutory hold period of four-months and one day in accordance with applicable securities legislation ending on October 24, 2023. The Company will use the proceeds for its current properties, on new projects or acquisitions, marketing and for working capital.

About Collective Metals:

Collective Metals Inc. is a resource exploration company specialized in precious metals exploration in North America. The Company’s flagship property is the Princeton Project, located in south-central British Columbia, Canada, approximately 10 km west of the currently producing Copper Mountain Mine. The Princeton Project consists of 29 mineral tenures totaling approximately 28,560 ha (70,570 acres) in a well documented and prolific copper-gold porphyry belt and is easily accessible by road, located immediately west of Highway 3.

The Company’s Landings Lake Lithium Project, which is located in northwestern Ontario where numerous lithium deposits have been delineated to host significant reserves of Li₂O. The Landings Lake Lithium Project is located 53 km east of Ear Falls, Ontario and covers 3,146 hectares.

Collective Metals is also advancing the Uptown Gold Project 4 km outside of Yellowknife, adjacent to several high grade past producing mines. The Uptown Gold Property is a high-grade Archean lode gold prospect adjoining the Giant Mine in Yellowknife, Northwest Territories. The property consists of 4 claims covering over 2,000 hectares and borders the west side of the Giant Mine leases.