Skip to main content

Komet Announces Closing of Previously Announced Transaction Regarding the Sale of the Dabia Sud Property in Mali

Written by Customer Service on . Posted in Public Companies.

MONTREAL, July 03, 2020 (GLOBE NEWSWIRE) — Further to its news release dated May 15, 2020 announcing the entering into of a binding letter of intent, Komet Resources Inc. (“Komet” or the “Company”; TSX-V: KMT) is pleased to announce that it has closed, on July 2, 2020 (the “Closing Date”) its previously announced transaction relating to the sale of all of the issued and outstanding shares of its wholly owned subsidiary Komet Mali SARL (“Komet Mali”), which owns the Dabia Sud project, to RosCan Gold Corporation (“RosCan“; TSX-V: ROS).
The disposition price was CAD $ 3.2 million. Komet received on Closing Date CAD $1.6 million in cash and an aggregate of 4,060,336 common shares of RosCan, each such common share having a deemed issuance value of CAD $0.394, representing the 5-day volume weighted average price of RosCan’s common shares as of the trading day prior to the Closing Date.RosCan shares issued in the transaction are subject to a voluntary hold period for 6 months after the Closing Date. Komet has entered into a voting trust agreement with RosCan pursuant to which it has agreed to vote the issued RosCan shares in favour of management’s recommendations for a period of 12 months.Investor Relations/information :Mr. Robert Wares, Chairman and interim President:  514-951-4235 / r.wares@kometgold.comMore information about the Corporation is available at: http://kometgold.com.Forward-looking StatementsThis 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, unfavourable 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.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.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.