COMET PROPOSES TWO NEW BOARD MEMBERS AND WILL HOLD ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS ON MAY 28, 2024

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Tue, Apr 30, 2024, 2:15 PM 4 min read

ROUYN-NORANDA, QC, April 30, 2024 /CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE: 8QY) ("Comet Lithium" or the "Corporation") is pleased to announce that the Board of Directors of the Corporation has confirmed that the annual and special meeting of shareholders of the Corporation (the "Meeting") will be held on Tuesday, May 28, 2024 at 10:00 a.m. (EDT) at the Offices of Fasken Martineau DuMoulin LLP, 800 Square-Victoria, Suite 3500, Montreal, Québec H3C 0B4.

The Corporation is also pleased to announce two new nominees for election as directors of the Corporation at the Meeting. The new nominees for election to the Board of Directors are: Jamie Flegg and Steven Mitchel (Mitch) Wasel. The other nominees for election as directors are current directors of the Corporation, namely, Vincent Metcalfe, Sylvain Champagne, Paul Blatter and Jordan William Potts. Jean-François Madore and Sébastien Bellefleur have indicated to the Board of Directors that they are not standing for re-election at the upcoming Meeting.

Messrs. Flegg and Wasel are respected business and community leaders and are well known within the Canadian mining industry. Their collective experiences will greatly enhance the Board of Directors' technical and financial capabilities. Brief details on the two new nominees are provided below.

"The Board of Directors acknowledges and appreciates the guidance and contribution of Jean-François Madore and Sébastien Bellefleur as directors of the Corporation over the last ten years and extends its best wishes on their retirement from the Board", added Vincent Metcalfe, President, CEO and Chairman of the Board of the Corporation.

Jamie Flegg is an executive in the metals & mining sector, with in-depth experience in all three facets of the capital markets: corporate, buy-side and sell-side. Mr. Flegg is currently the founder and President of Arbourview Consulting Corp., which provides capital markets advisory services with a focus on metals & mining. Prior to starting Arbourview Corp, Mr. Flegg was Chief Development Officer at Sigma Lithium, one of the world's largest hard rock lithium producers, overseeing corporate development and investor relations. Prior to his involvement at Sigma, Mr. Flegg was Director, Investment Management at Waterton Global, a leading independent private equity platform focused on the metals & mining sector. At Waterton, Mr. Flegg led deal origination, structuring and execution from initial investment through to exit. Mr. Flegg began his career in Investment Banking with Red Cloud Securities, providing M&A and capital raising advisory services to mining companies. Mr. Flegg is a CFA charterholder and holds an MBA degree and a Bachelor of Science with Honours degree from Queen's University.

Steve Mitchel (Mitch) Wasel is a semi retired executive in the metals & mining sector. He is the former Vice President, Exploration of Golden Star Resources Ltd. ("Golden Star"), a company that was listed on the Toronto Stock Exchange, the NYSE and the Ghana Stock Exchange, prior to being acquired by Chifeng Jilong Gold Mining Co. and Kefei Investment (BVI) Limited on January 28, 2022 pursuant to an arrangement. Mr. Wasel has spent 28 years at Golden Star in various positions of increasing responsibility. He has been working in mineral exploration and production for over 35 years on three continents. Mr. Wasel has extensive exploration experience on Proterozoic terrains on both sides of the Atlantic Ocean including the Guyana Shield, Birimian Shield and Archean terrains in Northern Canada and Brazil. Over 15 million ounces of gold mineral resources that are now world-class mining operations have been successfully delineated by Mr. Wasel and his exploration teams.

The shareholders of record as of April 23, 2024 will be entitled to vote on the election of directors, appointment of auditors and approval and ratification of the Corporation's omnibus equity incentive plan at the Meeting, as more particularly described in the Corporation's management information circular dated April 26, 2024 (the "Circular"). A copy of the Circular is available under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Corporation's website. The Circular and all meeting materials are being mailed to the shareholders.

About Comet Lithium Corporation

Comet Lithium is a dynamic lithium-focused exploration company active in the prolific James Bay District of Quebec. Comet Lithium's flagship asset is its 100%-owned Liberty property contiguous to Winsome Resources' Adina deposit, a growing high-grade discovery. Comet Lithium is advancing Liberty to first-ever drilling.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

SOURCE Comet Lithium Corp.