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  • Writer's pictureComet Industries

Company Announces Closing of Sale of Gastown Property

TSX-V Trading Symbol: CMU

Press release - September 11th, 2023

Comet Industries Ltd. (the “Company”) reported today, further to its press release of August 10th, 2023, that it had closed on the sale of the Company's Gastown property located at 2-12 Powell Street and 200 Carrall Street in Vancouver, B.C. The purchase price for the lands and buildings was $10,200,000.00. The purchaser of the property is a private, local real estate investor and developer.

The Company also reported that proceeds from the sale will be applied to advance work on the development of the Company's Iron Mask Industrial Park in Kamloops, B.C. The project is on track to have available lots for lease or sale by 2024 or 2025.

About Comet Industries Ltd.

Comet Industries Ltd. was incorporated in the province of British Columbia and is listed on the TSX Venture Exchange. The address of the Company's corporate office and its principal place of business is 1177 West Hastings Street, Suite 1710, Vancouver, British Columbia, Canada, V6E 2L3. The Company is in the business of holding and developing real properties, all in British Columbia (“B.C.”). The company owns unimproved land in Kamloops, Terrace, Pender Harbour and Nelson Island, B.C., all on a freehold basis.

“Michael O'Reilly”

Comet industries ltd.

Michael O'Reilly

President and ceo

Neither the tsx venture exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of the content of this news release.

This release includes certain statements that may be deemed to be “forward-looking statements.” All statements in this release, other than statements of historical facts, that address events or developments that management of the Company experts are forward-looking statements, including the reference to the proposed development of the Iron Mask Industrial Park. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at for further information.

Download the full announcement below:

PRESS RELEASE-Company Announces Closing of Sale of Gastown Location
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