AQD Komet Resources, Inc.

MONTREAL, May 3, 2012 /CNW Telbec/ - Komet Manufacturers Inc. ("Komet") announces that at the annual general and special meeting of shareholders held on Monday April 23, 2012, the minority shareholders of Komet approved by a vote of 81.99% "for" and 18.01% "against" (i) the sale of its remaining inventory at 60% of its book value to Aquadis International Inc. (a related company) and (ii) the termination of the 42,940 square foot lease (the "Lease") between Komet and Aquadis Group Inc. (a related company) in consideration of the payment of a penalty of $100,000 in cash.  The future obligation under the terms of the Lease, expiring on April 30, 2015, was estimated by Komet at approximately $900,000. At a meeting held on February 24, 2012, the directors of Komet acknowledged that Komet has been operating at a loss for the past nine quarters, that its business was no longer viable, that it had ceased all production activities by selling most of its production equipment and had restricted its activities solely to distribution. Komet currently employs only one sales person and has been trying to sell its inventory for several months, with limited success. In order to stop the losses, the directors decided to cease all the activities of Komet, liquidate its remaining inventory in an orderly fashion and settle its outstanding debts and obligations, the principal of which was the Lease. The directors obtained an independent evaluation of Komet's inventory as of February 29, 2012, from Groupe Marc Brosseau Inc., a certified evaluator.  Komet had determined that such inventory had a book value of $489,538, as at February 29, 2012. Groupe Marc Brosseau Inc. valued the inventory between $161,000 and $192,000, on an orderly liquidation basis (representing between 33% to 39% of the above mentioned book value).  Aquadis International Inc. (a company related to Komet and controlled by the Nadeau family) offered to purchase such inventory at 60% of book value.  After taking into account sales amounting to $117,886 in March and April, the book value of the balance of the inventory as at April 27, 2012 was reduced by $74,114 to $415,424.  As soon as authorized to do so by the TSX Venture Exchange, Aquadis International Inc. will acquire the balance of the inventory for a total purchase price of $249,583.  The purchase price will include the assumption by Aquadis International Inc. of a $98,439 debt due by Komet to an unrelated third party and the balance of $151,144 to be paid in cash upon the termination of the Lease. The Lease was initially executed in 2005 with respect to the building located at 1200 Michèle Bohec Boulevard in Blainville. This building was custom built specifically for Komet.  The Lease was renewed on February 1st, 2010 for a term of five years expiring April 30, 2015.  Mr. Alain Lachambre, an independent member of the board of directors, approved the renewal of the Lease for a term of five years in order to take advantage of a below market lease rate then offered by Aquadis Group Inc.  At the meeting of the board of directors of February 24, 2012, Mr. Lachambre also approved the above mentioned penalty payment of $100,000 for the termination of the Lease on the basis that it was the best option available for Komet and its shareholders and that the directors were unable to identify any third party to sublease such building. For more information, please see the information circular of Komet dated March 26, 2012 available on www.sedar.com. About Komet Komet, a Québec corporation headquartered in Blainville, has been listed on the TSX Venture Exchange since June 2007. The company specialized in designing and distributing bathroom furniture products. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Komet Manufacturing Inc. CONTACT: Mr. Francois Nadeau, PresidentKomet Manufacturers Inc.1190 Michele-Bohec StreetBlainville, Quebec J7C 5S4450-433-2210

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