Barclay Pearce Capital joined Peloton Capital in raising $2,000,000 million for Comet Resources (ASX: CRL) via its private placement, with an offer price of $0.02. This price represented a 9% discount to last close and a 16% discount to the 15 Day VWAP.
The placement was oversubscribed by 3 times.
Comet Resources Ltd is an ASX-listed explorer, which is focused on transitioning its 100% owned Springdale Graphite and Graphene Project in Western Australia to the next phase of development.
Investment Highlights:
- Two highly prospective, exploration and development Projects in Tier 1 Mining Jurisdictions.
- Leveraged to Gold and Copper assets via positive precious and base metals thematic
- Expert board and management with proven ability to identify opportunities and add value through exploration and development.
- Gold project JORC resource update prior to commencement of initial field programs. Copper project drill ready subject to permitting.
- Attractive currency Company valuation - poised to unlock value through initial drilling programs on two known mineral deposits.
Indicative Timetable
- Trading halt and announcement of the Placement and SPP: Thursday, September 3 2020.
- Trading halt lifted and CRL shares recommence trading on ASX: Monday, 7 September 2020.
- Record Date for determining eligible participation to subscribe for New Shares via the SPP: 7pm AEST Wednesday, 2 September 2020.
- Settlement of the Placement: Thursday. 17 September 2020.
- Allotment of New Shares issued under the Placement: Tuesday, 22 September 2020.
- SPP Offer Booklet dispatched to eligible shareholders: Thursday, 10 September 2020.
- SPP opens: Thursday, 10 September 2020.
- SPP closes: Thursday, 1 October 2020.
- Allotment of New Shares issued under the SPP: Friday, 2 October 2020.
Stay ahead of the game and be in the know
Every week we publish our Deal Of The Week newsletter where we highlight stock opportunities we believe are worth your attention. Subscribe now.
