Mergers & Acquisitions ·
Comstock Inc. entered into a Securities Purchase Agreement to sell its membership interests in Comstock Mining LLC…
LODEComstock Inc.
Comstock Inc. entered into a Securities Purchase Agreement to sell its membership interests in Comstock Mining LLC, Comstock Processing LLC, and Comstock Exploration and Development LLC, along with Comstock Real Estate Inc., to Mackay Precious Metals Inc. and Mackay Gold & Silver Corp. The aggregate purchase price consists of $20,000,000 in cash, 2,000,000 shares of Mackay Parent common stock, a $7,000,000 second tranche payment, assumption of reclamation obligations, assumption of surety bond deposits, and a $10,000,000 contingent payment. The transaction is expected to close in early July. Comstock Inc. operates in the mining industry and manages gold and silver properties in Nevada.