Mr. Michael O'Reilly reports

COMPANY ANNOUNCES ACCEPTANCE OF OFFER TO PURCHASE GASTOWN PROPERTY

Comet Industries Ltd. has accepted an offer to purchase the company's Gastown property, located at 2 -- 12 Powell St. and 200 Carrall St., located in Vancouver, B.C. The purchase price for the lands and building is $10.2-million. Completion of the sale subject to a number of conditions, including completion of due diligence on behalf of the purchaser and approval of the TSX Venture Exchange, and will be subject to all usual adjustments of taxes, rates, local approvement assessments and other charges, and all other costs normally adjusted for on a sale of a commercial property. It is anticipated that the completion date for the sale and purchase of the property will be on or before Sept. 11, 2023.

About Comet Industries Ltd.

Comet Industries was incorporated in the province of British Columbia and is listed on the TSX Venture Exchange. The address of the company's corporate office and its principal place of business is 1177 West Hastings St., Suite 1710, Vancouver, B.C., Canada, V6E 2L3. The company is in the business of holding and developing real properties, all in British Columbia. The company owns unimproved land in Kamloops, Terrace and Pender Harbor, B.C., and a rental property in Vancouver, B.C., all on a freehold basis.

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