Funding
Collective Metals announces non-brokered private placement of up to $515,000
By News Desk ·
Key takeaways
- Collective Metals announced a non-brokered private placement of up to 34,333,333 units at $0.015 each for gross proceeds of up to $515,000.
- Each unit includes one-half of one warrant exercisable at $0.015 per share for three years from closing.
- Flow-through proceeds will fund Canadian exploration expenses on the Rocas project, and closing is subject to Canadian Securities Exchange approval.
Collective Metals Inc. announced a non-brokered private placement of up to 34,333,333 units at $0.015 each for aggregate gross proceeds of up to $515,000, according to the company. The units combine non-flow-through units and flow-through units, and each unit includes one-half of one common share purchase warrant. The details were reported by Stock Titan.
What the Collective Metals offering includes
The company said each non-flow-through unit consists of one common share and one-half of one common share purchase warrant. Each flow-through unit consists of one common share issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one warrant. Each whole warrant entitles the holder to purchase one common share, which will not be a flow-through share, at $0.015 for three years from the closing date.
The company said the flow-through shares will qualify under subsection 66(15) of the Income Tax Act (Canada). Collective Metals intends to use gross proceeds from the flow-through units to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures on the Rocas project and its other exploration projects. The company will renounce all qualifying expenditures to subscribers of the flow-through units with an effective date no later than December 31, 2026. Net proceeds from the non-flow-through units will be used for exploration of the Rocas project and the company's other exploration projects, and for general working capital purposes.
Closing is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued under the offering will be subject to a statutory hold period of four months and one day from the date of issuance. The company may pay finder's fees to eligible persons in connection with the offering, in accordance with the policies of the Canadian Securities Exchange.
Collective Metals funding history
Company records show total funding of $20.3 million, with the last round dated January 9, 2026. The same records list two funding rounds: a January 2026 post-IPO equity round of $1.1 million and a June 2025 post-IPO equity round of $19.2 million. The company's profile describes Collective Metals as a publicly traded junior mining exploration company advancing the Rocas Uranium Project in Saskatchewan's Athabasca Basin via a Standard Uranium earn-in.
| Funding round | Date | Amount |
|---|---|---|
| Post-IPO equity | June 2025 | $19.2 million |
| Post-IPO equity | January 2026 | $1.1 million |
| Total funding | — | $20.3 million |
Rocas project details
The company said the Rocas project comprises 4,002 hectares, 75 kilometers southwest of the Key Lake Mine and Mill facilities along Highway 914, and approximately 72 kilometers south of the present-day margin of the Athabasca Basin. The project hosts several uranium showings, including historical mineralized outcrop grab samples along approximately 900 metres of strike length, with grades up to 0.5 wt.% U3O8.