Komet Resources {TSX.V: KMT} announced that it has closed a second tranche of a non-brokered private placement with accredited investors by issuing 3,364,000 units at a price of CA$0.37 per Unit, for total gross proceeds to Komet of CA$1,244,680.

.

.

Komet Resources {TSX.V: KMT} is pleased to announce that it has closed a second tranche of a non-brokered private placement with accredited investors by issuing 3,364,000 units at a price of CA$0.37 per Unit, for total gross proceeds to Komet of CA$1,244,680. Each Unit consists of one common share and one-half common share purchase warrant. Each Warrant entitles the holder to purchase one additional Common Share of the Corporation at a price of CA$0.45 for 12 months from the closing date of the private placement. From this amount, 30,000 common shares and 15,000 warrants were issued to a director of the issuer.

.

The Company paid a finder’s fee amounting CA$88,326 and issued 238,720 finder’s warrants.

.

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 their properties in Burkina Faso and Mali.

.

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

.

As a result of the private placement, 71,171,342 common shares of Komet are issued and outstanding.

.