Comet Resources : Proposed issue of securities - CRL

Proposed issue of securitiesAnnouncement Summary

Entity name

For personal use only

COMET RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement 4/4/2022

The Proposed issue is:

A non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

Total number of +securities proposed to be issued for a non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

Maximum Number of

ASX +security code	+Security description	+securities to be issued
CRL	ORDINARY FULLY PAID	250000000

Closing date for receipt of acceptances 23/5/2022

Proposed +issue date 17/6/2022

Refer to next page for full details of the announcementProposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

COMET RESOURCES LIMITED

For personal use only

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type ABN

Registration Number 88060628202

1.3 ASX issuer code CRL

1.4 The announcement isNew announcement

1.5 Date of this announcement 4/4/2022

1.6 The Proposed issue is:

A non-+pro rata offer of +securities under a +disclosure document or +PDS

Proposed issue of securities

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Proposed issue of securities

Part 5 - Details of proposed non-pro rata offer under a disclosure document or PDS

For personal use only

Part 5A - Conditions

5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of +securities under a +disclosure document or + PDS can proceed on an unconditional basis?

Yes

5A.1a Conditions

Approval/Condition +Security holder approval

Date for determination 27/5/2022

Is the date estimated or actual?

** Approval received/condition met?

Estimated

No

Comments

Part 5B - Offer details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

Will the proposed issue of this +security include an offer of attaching +securities?

No

Existing class

Details of +securities proposed to be issued

ASX +security code and description

CRL : ORDINARY FULLY PAID

The number of +securities to be offered under the +disclosure document or +PDS

250,000,000

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)?

Yes

Proposed issue of securities

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Proposed issue of securities

Describe the minimum subscription condition

250,000,000 FPO Shares at $0.20 per FPO Share

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)?

Yes

For personal use only

Is the minimum acceptance unit based or dollar based?

Dollar based ($)

Please enter the minimum acceptance value $ 2,000

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)?

No

Offer price details

Has the offer price been determined?

Yes

In what currency will the offer be made?

What is the offer price per +security?

AUD 0.20000

AUD - Australian Dollar

Oversubscription & Scale back details

Will the entity be entitled to accept over-subscriptions?

No

Will a scale back be applied if the offer is over-subscribed?

No

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Part 5C - Timetable

5C.1 Lodgement date of +disclosure document or +PDS with ASIC 6/5/2022

Proposed issue of securities

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Proposed issue of securities

5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors 16/5/2022

5C.3 Offer open date 16/5/2022

For personal use only

5C.4 Closing date for receipt of acceptances 23/5/2022

5C.6 Proposed +issue date 17/6/2022

Part 5D - Listing Rule requirements

5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?

Yes

5D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 19/5/2022

5D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?

Yes

Part 5E - Fees and expenses

5E.1 Will there be a lead manager or broker to the proposed offer?

Yes

5E.1a Who is the lead manager/broker?

Euroz Hartleys Limited

5E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

A cash fee amount equal to 6% of the amount placed under the Public Offer (being $3,000,000); and 15,000,000 options exercisable at $0.30 per option (on a 1:1 basis) on or before the date which is 48 months from issue (Lead Manager Options).

5E.2 Is the proposed offer to be underwritten?

No

5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission?

No

Proposed issue of securities

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