COMET RAISES $1M IN STRATEGIC INVESTOR PLACEMENT

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Highlights
• Placement to raise $1,000,000 to bring in new strategic investors
• Shares to be issued at 2c with a 1 for 2 option at 3c
• Funds raised to be used to support work at the Santa Teresa and Barraba
Projects including expansion of exploration activities at the Barraba Project to
include the historic Murchison Mine area
Comet Resources Ltd (Comet or the Company) (ASX:CRL) is pleased to announce it has
received commitments for a placement of 50,000,000 new fully paid ordinary shares in Comet (Placement Shares) to eligible sophisticated and institutional investors at $0.02 per New Share (the Placement) with a 1 for 2 free attaching option exercisable at $0.03 and expiring 2 years from date of issue (Placement Options). The Placement will raise $1 million (before costs) and is priced at a 10% discount to the last closing price of Comet shares on 4 February 2021.

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