Proposed Land Sale in New Kamloops Light Industrial Park Signals Continued Strong Momentum

(TheNewswire)

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

The investment highlights the demand for premiumindustrial land in the region and is another milestone in the ongoingdevelopment of the industrial park, which is emerging as a key hub forbusiness growth in the Kamloops area.

“This sale is a strong signal of confidence inboth Iron Mask IndustrialPark and the Kamloops market,” said MikeO’Reilly, President and CEO of Comet Industries. “This salereinforces to our team that we have created an opportunity for lightindustrial land that not only is fulfilling a demand but is alsohelping to support businesses looking to grow in Kamloops.”

Located in a strategic corridor with strongtransportation access, IMIP is a 190-acre light industrial developmentdesigned to support a range of light industrial and commercial userswhile helping to strengthen the region’s economic base.

Completion of the sale is subject to various conditionscustomary for transactions of this nature, including entering into ofa formal contract of purchase and sale and receipt of all requisiteapprovals, 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 theTSX Venture Exchange. The Company is in the business of holding anddeveloping real estate properties, all in British Columbia. TheCompany owns unimproved land in Kamloops and Nelson Island on afreehold basis. A major initiative by the company is the Iron MaskIndustrial Park project. Visit: www.cometindustries.ca

Follow Iron Mask Industrial Park on.

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-lookingstatements involve known and unknown risks, uncertainties and otherfactors that may cause Comet Industries’ actual results, performanceor achievements, or developments in the industry to differ materiallyfrom the anticipated results, performance or achievements expressed orimplied by such forward-looking statements. Forward-looking statementsare statements that are not historical facts and are generally, butnot always, identified by the words "expects,""plans," "anticipates," "believes,""intends," "estimates," "projects,""potential" and similar expressions, or that events orconditions "will," "would," "may,""could" or "should" occur. Forward-looking statementsin this news release include statements concerning the demand forpremium industrial land in the Kamloops area, the expectation thatdevelopment activity at IMIP will accelerate, expectations that thesale of the land will be completed, expectations that businesses willlook to establish operations in the Kamloops area and all otherstatements that are not historical in nature.

Although Comet Industries believes the forward-lookinginformation contained in this news release is reasonable based oninformation available on the date hereof, forward-looking statementsby 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 materiallydifferent from any future results, performance or achievementsexpressed or implied by such forward-looking statements.

THE FORWARD-LOOKING INFORMATIONCONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF COMETINDUSTRIES AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, ISSUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUEIMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPONTHIS INFORMATION AS OF ANY OTHER DATE.  WHILE COMET INDUSTRIES MAYELECT TO, NEITHER OF THEM UNDERTAKES TO UPDATE THIS INFORMATION AT ANYPARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLELAWS.

Neither the TSX Venture Exchange norits Regulation Services Provider accepts responsibility for theadequacy or accuracy of this release.

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