Mr. Michael O'Reilly reports

COMPANY ANNOUNCES CLOSING OF SALE OF GASTOWN PROPERTY

Further to its press release of Aug. 10, 2023, Comet Industries Ltd. has closed on the sale of the company's Gastown property located at 2, 12 Powell St. and 200 Canall St. in Vancouver, B.C. The purchase price for the lands and buildings was $10.2-million. The purchaser of the property is a private, local real estate investor and developer. Proceeds from the sale will be applied to advance work on the development of the company's Iron Mask industrial park in Kamloops, B.C. The project is on track to have available lots for lease or sale by 2024 or 2025.

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 ll77 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, Pender Harbour and Nelson Island, B.C., all on a freehold basis.

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