Collective Mining (CNL) said Wednesday it closed an upsized bought deal offering and completed a concurrent private placement for gross proceeds of about 140 million Canadian dollars ($100.4 million).

The company said it closed its upsized public offering of 6.6 million shares at CA$19 for gross proceeds of about CA$125.4 million.

In a concurrent private placement, Agnico Eagle Mines (AEM) purchased 789,473 shares at CA$19 for gross proceeds of about CA$15 million, Collective Mining said.

Proceeds from both financings will support exploration, technical studies, and underground development at the Guayabales project in Colombia, as well as working capital and general corporate purposes, the company said.

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