Comstock falls on renewable fuels unit spin off, reverse stock split plans

Comstock

13/01/2025 12:43

** Shares of clean energy firm Comstock  LODE.A  down 33.2%
at 35 cents premarket
    ** Co says it is evaluating a number of transactions for
2025, including a spin-off of Comstock Fuels
    ** Says it would result in two public companies, a renewable
metals and mining company headquartered in Nevada and a
renewable fuel company headquartered in Oklahoma
    ** LODE adds it is holding a special meeting on Feb. 14,
where shareholders will be asked to vote on a proposal that
effectively increases its authorized shares, including a reverse
stock split

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))