Deal offers 4,253,786 units of one common share, one one-year warrant
By Devika Patel
Knoxville, Tenn., June 14 – Komet Resources Inc. said it settled a C$802,870 second tranche of a C$1.4 million non-brokered private placement of units. The deal raised C$600,879 on April 29.
The company sold 4,253,786 units of one common share and one warrant at C$0.33 per unit. It sold 1,820,846 units in the first tranche and 2,432,940 units in the second.
Each warrant is exercisable at C$0.45 for one year. The strike price is a 32.35% premium to the April 28 closing share price of C$0.34.
Proceeds will be used for the acquisition of production equipment and exploration work.
The gold exploration and development company is based in Montreal.
| Issuer: | Komet Resources Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$1,403,749
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| Units: | 4,253,786
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| Price: | C$0.33
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.45
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| Agent: | Non-brokered
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| Settlement dates: | April 29 (for C$600,879), June 14 (for C$802,870)
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| Stock symbol: | TSX Venture: KMT
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| Stock price: | C$0.34 at close April 28
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| Market capitalization: | C$19.23 million
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