Comet Industries Announces Non-Dilutive Debt Financing to Fund the Ongoing Development of the Iron Mask Project in Kamloops BC.

Kamloops, BC September 25, 2026 – TheNewswire - Comet Industries Ltd. (“ Comet ” or the “ Company ”) announces that on it entered into a commitment letter for a secured, non-revolving term loan agreement with a Harbour Mortgage Corp. (the “ Lender ”), pursuant to which the Company will borrow up to the aggregate principal amount of $8,000,000 (the “ Loan ”) to support construction and development activities related to the Company’s Iron Mask project in Kamloops, British Columbia (the “ Project ”). The Loan has a one year term and bears interest at the greater of the Royal Bank of Canada prime rate plus 4.55% and 9.00% per annum, calculated and payable monthly. A commitment fee of $200,000 is payable to the lender, of which $100,000 was paid upon acceptance of the commitment letter and the balance will be deducted from the initial advance. The Loan will be advanced through multiple draws based on work completed, no more than once per month and in minimum amounts of $500,000, with a $750 administration fee payable on each advance. The Loan cannot be prepaid during its initial 6-month term. If the Loan is not repaid by the maturity date, an overholding fee equal to 0.25% of the outsta