Comet Industries to Sell Land in Iron Mask Project
Kamloops, BC — January 29, 2026 — Leads & Copy —
Comet Industries Ltd. has entered into a Purchase Agreement to sell certain lands within its Iron Mask Project in Kamloops, British Columbia. The agreement, dated October 30, 2025, is with an arm’s length purchaser.
The Lands, representing 1 acre of the total 50.69 acres (1.97%) of sellable land in Phase 1 of the Iron Mask Project, will be created through the consolidation and subsequent subdivision of parcels of land currently held by Comet Industries.
The Purchase Price for the Lands is $1,100,000 plus any applicable GST. The Completion Date, contingent upon the final registration of the subdivision plan at the Land Title Office, is estimated to occur on or about December 1, 2026. The Purchase Agreement may be terminated by either party if the Completion Date has not occurred by December 31, 2027.
Prior to the Completion Date, Comet Industries is obligated to remediate any areas with contaminated soil, following a remediation plan approved by the Ministry of Environment and Parks. The Purchaser will receive confirmation of the remediation work’s completion or, if no contamination exists, confirmation of the absence of known environmental contamination.
All parties involved in the Offer to Purchase are at arm’s-length, and the transaction does not constitute a related-party transaction under applicable securities laws. No securities of Comet Industries, finder’s fees, or other compensation are payable in connection with the transaction.
Comet Industries Ltd., established in 1972 and incorporated in British Columbia, is listed on the TSX Venture Exchange. The company focuses on holding and developing real estate properties within British Columbia, owning unimproved land in Kamloops and Nelson Island. The Iron Mask Industrial Park project is a major initiative for the company.
Source: Comet Industries Ltd.
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