Mr. Scott Gibson reports

COLLINGWOOD CLOSES PRIVATE PLACEMENT

Collingwood Resources Corp. has closed its previously announced private placement of a total of 1,196,316 common shares at a price of 19 cents per common share for gross proceeds of $227,300.

In connection with closing, the company paid a cash finder's fee in the amount of $10,260 to an arm's-length finder, representing 6 per cent of the proceeds received from subscribers introduced to the company by the finder. The net proceeds of the private placement will be used to evaluate the potential acquisition of exploration projects to serve as the company's qualifying transaction under TSX Venture Exchange policies and for general working capital purposes.

Two subscribers to the private placement subscribing for an aggregate of 296,316 common shares are directors of the company, and, as a result, the private placement constitutes a related-party transaction under the policies of the TSX Venture Exchange and Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transaction under sections 5.7(b) and 5.5(b), respectively, of MI 61-101. There has been no prior formal valuation of the common shares issued as there has not been any necessity to do so. The private placement has been reviewed and unanimously approved by the company's board of directors, including the independent directors.

All shares issued pursuant to this placement will be subject to a four-month hold period from the date of issuance. In addition, all 296,316 related shares issued will be subject to an 18-month postqualifying transaction escrow release schedule pursuant to the company's capital pool company escrow agreement dated Feb. 5, 2018, a copy of which is available under the company's profile at SEDAR+.

We seek Safe Harbor.