COMET RIDGE LIMITED — Capital/Financing Update 2024

Dec 17, 2024

==> picture [95 x 60] intentionally omitted <==

Comet Ridge Limited Level 3 410 Queen Street Brisbane Qld 4000 Phone: +61 7 3221 3661 Info@cometridge.com.au

18 December 2024

Company Announcements Officer Australian Securities Exchange Level 4 20 Bridge Street Sydney NSW 2000

By Electronic Lodgement

Issue of Placement Shares

Notification under section 708A(5)(e) of the Corporations Act 2001 (“the Act”)

This notice is given by Comet Ridge Limited (ASX: COI) (the Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

On Thursday, 12 December 2024, the Company announced it had completed a $12 million raising (inclusive of costs) via a placement to institutional and sophisticated investors ( Placement ).

The Company has today issued 85,914,286 fully paid ordinary shares in the Company ( New Shares ) at an issue price of $0.14 per New Share pursuant to the Placement.

In compliance with section 708A(6) of the Corporations Act, the Company hereby confirms that:

• (a) the New Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) sections 674 and 674A of the Corporations Act; and

• (d) except as disclosed below, as at the date of this notice, there is no other excluded information of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act that is required to be set out in this notice under section 708A(6)(e) of the Corporations Act.

Adjustment to Warrant Exercise Price

The Company has on issue two tranches of unlisted Warrants the details of which are as follows:

• (a) Tranche 1 - 39,393,939 Warrants with an exercise price of $0.165 per Warrant; and (b) Tranche 2 - 22,727,273 Warrants with an exercise price of $0.132 per Warrant.

In accordance with the terms and conditions of the Tranche 1 Warrants, as a result of the Placement being completed the exercise price of the Tranche 1 Warrants are required to be adjusted.

Notification under section 708A(5)(e)

Page 2

In accordance with Listing Rule 3.11.2 the Company advises that effective 27 December 2024, the exercise price of the Tranche 1 Warrants will be adjusted in accordance with their terms and conditions as follows:

conditions as follows:
Details	Number	Expiry Date	Original Price	Amended Price
Tranche 1 Warrants	39,393,939	10/09/2025	A$0.165	A$0.1539

The Tranche 2 Warrants are unaffected by the Placement.

Authorised for release by the Board of Comet Ridge Limited

For more information:

Tor McCaul Phil Hicks Managing Director Chief Financial Officer Phone +61 7 3221 3661 Phone +61 7 3221 3661 tor.mccaul@cometridge.com.au phil.hicks@cometridge.com.au