(via TheNewswire)

June 2, 2026 – TheNewswire - Kamloops, B.C. Comet Industries Ltd. (“ Comet Industries ”) is pleased to announce that momentum continues to build for property at Iron Mask Industrial Park (“ IMIP ”) following the execution of a letter of intent for the sale of a 10-acre parcel in a transaction valued at $10.2 million.

The investment highlights the demand for premium industrial land in the region and is another milestone in the ongoing development of the industrial park, which is emerging as a key hub for business growth in the Kamloops area.

“This sale is a strong signal of confidence in both  Iron Mask Industrial Park  and the Kamloops market,” said Mike O’Reilly, President and CEO of Comet Industries. “This sale reinforces to our team that we have created an opportunity for light industrial land that not only is fulfilling a demand but is also helping to support businesses looking to grow in Kamloops.”

Located in a strategic corridor with strong transportation access, IMIP is a 190-acre light industrial development designed to support a range of light industrial and commercial users while helping to strengthen the region’s economic base.

Completion of the sale is subject to various conditions customary for transactions of this nature, including entering into of a formal contract of purchase and sale and receipt of all requisite approvals, including the approval of the TSX Venture Exchange.

About Comet Industries Ltd.

Comet Industries Ltd. was established in 1972, incorporated in the Province of British Columbia, and is listed on the TSX Venture Exchange. The Company is in the business of holding and developing real estate properties, all in British Columbia. The Company owns unimproved land in Kamloops and Nelson Island on a freehold basis. A major initiative by the company is the Iron Mask Industrial Park project. Visit: www.cometindustries.ca

Follow Iron Mask Industrial Park on Linkedin .

For further information please contact:

Michael O’Reilly, President and CEO
Tel: +1 (250) 819-3165
Email: mike@cometindustries.ca

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements".  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Comet Industries’ actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include statements concerning the demand for premium industrial land in the Kamloops area, the expectation that development activity at IMIP will accelerate, expectations that the sale of the land will be completed, expectations that businesses will look to establish operations in the Kamloops area and all other statements that are not historical in nature.

Although Comet Industries believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, forward-looking statements by their nature involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF COMET INDUSTRIES AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.  WHILE COMET INDUSTRIES MAY ELECT TO, NEITHER OF THEM UNDERTAKES TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS .

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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