The Prospector News

COMET ANNOUNCES FIRST CLOSING OF A PRIVATE PLACEMENT FOR PROCEEDS OF $1.9 MILLION

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

COMET ANNOUNCES FIRST CLOSING OF A PRIVATE PLACEMENT FOR PROCEEDS OF $1.9 MILLION

 

 

 

 

 

Comet Lithium Corporation (TSX-V: CLIC) ) (FSE: 8QY) is pleased to announce that it has held a first closing of a non-brokered private placement in which it issued 1,673,000 common shares at a price of $0.50 per Share, and 1,356,836 “flow-through” common shares at a price of $0.85 per Flow-Through Share, for aggregate gross proceeds to Comet Lithium of $1,989,810.60.

 

Comet Lithium will use the net proceeds from the sales of the Shares for general and administrative purposes and for exploring the Company’s mining properties and will use the net proceeds from the sales of the Flow-Through Shares for exploring the Company’s mining properties the located in the provinces of Québec, with a focus on its 100%-owned Liberty and Troilus lithium properties.

 

“We are excited to announce this private placement, and to see a high level of commitment from quality Canadian and Australian investors. These funds will allow the Corporation to ramp-up exploration activities at our Liberty and Troilus East properties, and to set the foundational program of work across our other properties within the portfolio”, commented Vincent Metcalfe, Executive Chairman.

 

A second closing of the Private Placement is expected to be held on or around December 20, 2023. Additional closings of the Private Placement may be held until January 26, 2024, subject to a maximum of an additional 1,327,000 Shares at a price of $0.50 per Share and a maximum of an additional 407,869 Flow-Through Shares at a price of $0.85 per Flow-Through Share, for total maximum additional gross proceeds of $1,010,188.65.

 

In connection with the first closing of the Private Placement, Comet Lithium paid cash commissions to Canaccord Genuity Corp. and Argonaut Securities PTY Limited in an aggregate amount of $38,923.50, which represents 7% of the gross proceeds raised through such securities dealers.

 

As a result of the first closing of the Private Placement, there are 23,604,529 common shares of Comet Lithium issued and outstanding. Under applicable securities legislation, the securities issued in the Private Placement are subject to a four-month hold period, expiring on April 16, 2024for the first closing.

 

About Comet Lithium Corporation

 

Comet Lithium is a dynamic lithium-focused exploration company active in the prolific James Bay District of Quebec. Comet Lithium’s flagship asset is its 100%-owned Liberty Property contiguous to Winsome Resources’ Adina deposit, a growing high-grade discovery. Comet Lithium is advancing Liberty to first-ever drilling.

 

Posted December 18, 2023

Share this news article

MORE or "UNCATEGORIZED"


GR Silver Mining Extends Silver Mineralization with Step-Out Drilling at San Marcial 11.9 m @ 226 g/t Ag Eq* including 0.9m @ 716 g/t Ag Eq

GR Silver Mining Ltd. (TSX-V: GRSL) (OTCQB: GRSLF) (FRANKFURT: G... READ MORE

July 25, 2025

Big Ridge Gold Corp. Closes Upsized $5.2 Million Private Placement

Big Ridge Gold Corp. (TSX-V: BRAU) (OTCQB: ALVLF) is pleased to a... READ MORE

July 25, 2025

St. Augustine Closes Private Placement

St. Augustine Gold and Copper Limited (TSX: SAU) is pleased to announce ... READ MORE

July 25, 2025

GoldShore Intersects Additional Mineralization Beneath the Conceptual Open Pit at the Southwest Zone with 22m of 1.30 g/t Au

Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE

July 25, 2025

Benz Announces Closing Final Tranche of A$13.5M Financing

Benz Mining Corp. (TSX-V: BZ) (ASX: BNZ) is pleased to advise tha... READ MORE

July 25, 2025

Copyright 2025 The Prospector News