Brief: Comstock- Comstock Fuels Corporation, Entered Into Term Sheet With RenFuel K2B AB

Comstock

27/12/2023 22:09

Dec 27 (Reuters) - Comstock Inc  LODE.A :
    * COMSTOCK INC- ON DEC 22, COMSTOCK FUELS CORPORATION,
ENTERED
INTO TERM SHEET WITH RENFUEL K2B AB
    * COMSTOCK EXECUTES FIRST BIOREFINERY COMMERCIAL AGREEMENT
    * COMSTOCK INC- PURSUANT TO TERM SHEET, UNIT TO ADVANCE CO’S
FIRST
COMMERCIAL BIOREFINERY AND MAKE A STRATEGIC $3,000,000
INVESTMENT IN RENFUEL
    * COMSTOCK INC - PRELIMINARY ENGINEERING COMPLETE FOR
100,000 TPY
BIOINTERMEDIATE PRODUCTION AT PULP AND PAPER FACILITY
    * COMSTOCK INC- COMSTOCK FUELS, RENFUEL ALSO AGREED TO ENTER
INTO
COMMERCIALLY REASONABLE SECURITIES PURCHASE AGREEMENT
    * COMSTOCK INC- PURSUANT TO AGREEMENT, RENFUEL WILL ISSUE TO
COMSTOCK FUELS 10% SENIOR SECURED CONVERTIBLE NOTES IN PRINCIPAL
AMOUNT UP TO $3 MILLION
    * COMSTOCK: PURSUANT TO ISSUANCE OF NOTES, RENFUEL AGREED TO
ISSUE
TO COMSTOCK FUELS OPTION TO ACQUIRE MAJORITY STAKE IN RENFUEL
K2B LIGNOLPRODUKTION AB

Further company coverage:  LODE.A 

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