Comet Industries Announces Letter of Intent for $10.2 Million Property Sale at Iron Mask Industrial Park

Kamloops, B.C. — June 2, 2026 — Leads & Copy — Comet Industries Ltd. announced that momentum is building for its Iron Mask Industrial Park (IMIP) with the execution of a letter of intent for the sale of a 10-acre parcel valued at $10.2 million. This transaction underscores the demand for prime industrial land in the region and marks another significant step in the development of IMIP, which is becoming a key center for business expansion in Kamloops.

Mike O’Reilly, President and CEO of Comet Industries, stated that the sale serves as a strong indicator of confidence in both IMIP and the Kamloops market. He added that the company has successfully created an opportunity for light industrial land that not only meets demand but also assists businesses aiming to grow within Kamloops.

IMIP is a 190-acre light industrial development strategically located in a corridor with excellent transportation access. It is designed to accommodate a variety of light industrial and commercial users, thereby contributing to the strengthening of the region's economic foundation.

The completion of this sale is contingent upon standard conditions for such transactions, including the finalization of a formal contract of purchase and sale and the securing of all necessary approvals, including that of the TSX Venture Exchange.

Comet Industries Ltd., established in 1972 and incorporated in British Columbia, is listed on the TSX Venture Exchange. The company's operations involve the ownership and development of real estate properties exclusively within British Columbia. Comet Industries holds title to unimproved land in Kamloops and Nelson Island. A primary focus for the company is the Iron Mask Industrial Park project.

Source: Comet Industries Ltd.