Komet - Closing of the First Tranche of a Private Placement

QUÉBEC CITY, QUÉBEC--(Marketwired - Jan. 25, 2018) - Komet Resources Inc. (TSX VENTURE:KMT) ("Komet" or the "Company") is pleased to announce that it has closed the first tranche of a non-brokered private placement with accredited investors as well as with a director of Komet (the "Insider") by issuing 1,600,500 units (the "Units") at a price of $0.37 per Unit, for total gross proceeds to Komet of $592,585. Each Unit consists of one common share (a "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 $0.45 for 12 months from the closing date of the private placement (the "Closing Date").