Comet Lithium Corporation announced a private placement of 3,000,000 common shares at a price of CAD 0.50 per share for the gross proceeds of CAD 1,500,000 and 1,764,705 flow-through shares at a price of CAD 0.85 for the gross proceeds of CAD 1,499,999.25 for the total gross proceeds of CAD 3,000,000 on December 18, 2023. The securities issued in the private placement are subject to a four-month hold period.
On the same day, the company raised its first tranche closing. The company issued 1,673,000 common shares at a price of CAD 0.5 per share for the gross proceeds of CAD 836,500 and 1,356,836 flow-through common shares at a price of CAD 0.85 per share for the gross proceeds of CAD 1,153,310.6 for the total gross proceeds of CAD 1,989,810.60. As a part of the first tranche, the company paid CAD 38,923.50 as placement agent fee. A second closing of the private placement is expected to be held on or around December 20, 2023.