Komet - Closing of the Second Tranche of a Private Placement
February 15 2018 - 8:49AM
QUÉBEC CITY, Feb. 15, 2018 (GLOBE NEWSWIRE)
-- Komet Resources
Inc. ("Komet" or the "Company") is pleased to
announce that it has closed a second tranche of a non-brokered
private placement with accredited investors by issuing 3,364,000
units at a price of CA$0.37 per Unit, for total gross proceeds to
Komet of CA$1,244,680. Each Unit consists of one common share and
one-half common share purchase warrant. Each Warrant entitles the
holder to purchase one additional Common Share of the Corporation
at a price of CA$0.45 for 12 months from the closing date of the
private placement. From this amount, 30,000 common shares and
15,000 warrants were issued to a director of the issuer. The
Company paid a finder's fee amounting CA$88,326 and issued 238,720
finder's warrants.
Securities issued under the
private placement will be subject to a four month hold period from
the Closing Date.
Komet will use the private
placement proceeds to accelerate exploration of their properties in
Burkina Faso and Mali.
The private placement was carried
out pursuant to prospectus exemptions of applicable securities laws
and is subject to final acceptance by the TSX Venture Exchange.
As a result of the private
placement, 71,171,342 common shares of Komet are issued and
outstanding.
More information about the
corporation is available at: http://kometgold.com.
Investors relations and information: André Gagné, President
and CEO 581-300-1666 / a.gagne@kometgold.com / Skype:
andregagne11
Forward-Looking Statements
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This
press release contains statements that may constitute
"forward-looking information" or "forward-looking statements" as
set out within the context of security law. This forward-looking
information is subject to many risks and uncertainties, some of
which are beyond Komet's control. The actual results or conclusions
may differ considerably from those that have been set out, or
intimated, in this forward-looking information. There are many
factors which may cause such disparity, especially the instability
of metal market prices, the results of fluctuations in foreign
currency exchange rates or in interest rates, poorly estimated
resources, environmental risks (stricter regulations), unforeseen
geological situations, unfavorable extraction conditions, political
risks brought on by mining in developing countries, regulatory and
governmental policy changes (laws and policies), failure to obtain
the requisite permits and approvals from government bodies, or any
other risk relating to mining and development. There is no
guarantee that the circumstances anticipated in this
forward-looking information will occur, or if they do occur, how
they will benefit Komet. The forward-looking information is based
on the estimates and opinions of Komet's management at the time of
the publication of the information and Komet does not assume any
obligation to make public updates or modifications to any of the
forward-looking statements, whether as a result of new information,
future events, or any other cause, except if it is required by
securities laws.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Komet Resources Inc. via Globenewswire
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