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Komet - Extension of a Private Placement

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QUEBEC CITY, March 28, 2018 (GLOBE NEWSWIRE) -- Komet Resources Inc. (TSX-V:KMT) ("Komet" or the "Company") announces the extension of the deadline to April 26, 2018 to complete a non-brokered private placement of units of the Company (the "Units") at a price of CA$0.37 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one-half Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at a price of CA$0.45 for 12 months from the closing date of the private placement (the "Closing Date"). A first tranche of CA$592,858 was closed on January 25, 2018 and a second tranche of CA$1,244,680 was closed on February 15, 2018.

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 its properties in Burkina Faso and Mali.

The private placement is carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.

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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