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Comet Industries Announces Contract for Purchase and Sale of Certain Lands Located Within Iron Mask Project in Kamloops BC.
(TheNewswire) Kamloops, BC January 29, 2026 – TheNewswire - Comet Industries Ltd. ...
About this update from Comet Industries Ltd.
[{"type":"text","content":"Comet Industries Announces Contract for Purchase and Sale of Certain Lands Located Within Iron Mask Project in Kamloops BC. \n(TheNewswire)\n\n\nKamloops, BC January 29, 2026 – TheNewswire - Comet Industries Ltd.\n(“Comet” or the “Company”) announces that it has entered into\na Contract for Purchase and Sale (the “Purchase Agreement”) dated October 30, 2025 with an arm’s length purchaser\n(the “Purchaser”). Pursuant to the Purchase Agreement, the Company has\nagreed to sell to the Purchaser certain lands (the “Lands”) to be\ncreated as a result of the consolidation and subsequent subdivision of\ncertain parcels of land currently held by the Issuer as part of the\nCompany’s Iron Mask project in Kamloops, British Columbia (the\n“Iron Mask\nProject”). The Lands represent 1 acre of the\ntotal 50.69 acres (1.97%) of sellable land in Phase 1 of the Iron Mask\nProject.\n\n\n \n\n\nThe purchase price for the Lands is $1,100,000 plus any\napplicable GST (the “Purchase Price”). The completion date will be no later than 30 days after\nthe date that the subdivision plan with respect to the Lands is\naccepted for final registration at the Land Title Office (the\n“Completion Date”). The Company\ncurrently estimates that the Completion Date will occur on or about\nDecember 1, 2026. If the Completion Date has not occurred by December\n31, 2027, the Purchase Agreement may be terminated by either the\nCompany or the Purchaser.\n\n\n \n\n\nPrior to the Completion Date, the Company is required\nto remediate any areas containing contaminated soil in accordance with\na remediation plan process approved by the Ministry of Environment and\nParks and provide the Purchaser with confirmation that such\nremediation work has been completed, or, if the Lands do not contain\nany contaminated soil, confirmation that there is no known\nenvironmental contamination. \n\n\n \n\n\nAll parties to the Offer to Purchase are arm’s-length\nparties, and the transaction does not constitute a related-party\ntransaction under applicable securities laws. There are no\nsecurities of the Company, finder’s fees, and/or any other type of\ncompensation payable in connection with the transaction.\n\n\nAbout Comet Industri...