Brief: Comstock Sells Legacy Mining Assets To Mackay Precious Metals Inc.
22/06/2026 11:17
BRIEF-Comstock Sells Legacy Mining Assets To Mackay Precious Metals Inc. June 22 (Reuters) - Comstock Inc LODE.A:
COMSTOCK SELLS LEGACY MINING ASSETS TO MACKAY PRECIOUS METALS INC.
COMSTOCK - DEAL VALUED AT OVER $45 MILLION INCLUDING CASH, STOCK, ROYALTY, AND CONTINGENT PAYMENT
COMSTOCK - TO RECEIVE $20 MILLION CASH AND 2 MILLION MACKAY SHARES AT CLOSING
COMSTOCK - DIVESTITURE EXPECTED TO RESULT IN OVER $1.5 MILLION ANNUALIZED COST SAVINGS
COMSTOCK - RETAINS 1.5% NSR ROYALTY; MACKAY MAY REPURCHASE FOR $3.5 MILLION
COMSTOCK - ELIGIBLE FOR $10 MILLION CONTINGENT PAYMENT WITHIN SEVEN YEARS
COMSTOCK - MACKAY TO BUY FOUR COMSTOCK SUBSIDIARIES AND ALL ASSOCIATED ASSETS
Source text: ID:nGNX9ydJgn
Further company coverage: LODE.A
((Reuters.Briefs@thomsonreuters.com;))
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