---
schema_version: "secwatch.filing_event.v1"
accession: "0001120970-22-000093"
form_type: "8-K"
ticker: "LODE"
cik: "0001120970"
company_name: "Comstock Inc."
filed_at: "2022-12-19T23:59:59+00:00"
generated_at: "2026-06-21T02:22:03.666144+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Comstock closes $3.15M convertible note, expects >$30M from asset sales in Q1 2023

## Summary
- Issued $3.15M face value 8% convertible note due March 2024, net proceeds $3M after 5% OID.
- Up to $2M of note redeemable at 110% after 30 days; conversion price initially $0.50 then formula-based.
- Company expects >$30M from sale of non-mining properties and non-strategic investments in Q1 2023.
- Note includes anti-dilution adjustments and 15% penalty if not redeemed/converted by maturity.

## SEC filing metadata
- accession: 0001120970-22-000093
- form_type: 8-K
- ticker: LODE
- cik: 0001120970
- company_name: Comstock Inc.
- filed_at: 2022-12-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1120970/000112097022000093/0001120970-22-000093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1120970/000112097022000093/lode-20221216.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001120970-22-000093
- JSON: https://secwatch.observer/filing/0001120970-22-000093.json
- Plain text: https://secwatch.observer/filing/0001120970-22-000093.txt

## Key facts
- Debt Financings
  Comstock Inc. incurred convertible notes of $3,150,000 original aggregate principal amount with an investor at 8% per annum maturing March 16, 2024.
  - Instrument: convertible notes
  - Principal: $3,150,000 original aggregate principal amount
  - Counterparty: an investor
  - Rate: 8% per annum
  - Maturity: March 16, 2024
  - Event: incurrence
  source text: the issuance of an 8.0% Convertible Promissory Note due March 16, 2024 (the “Convertible Note”). The Convertible Note was issued with an original aggregate principal amount of $3,150,000 (the “Face Value”). The Convertible Note was issued with 5% original issue discount, meaning that the purchase price paid by the Investor for the Convertible Note was $3,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1120970/000112097022000093/0001120970-22-000093-index.htm
- Material Agreements
  Comstock Inc. entered into Securities Purchase Agreement with an investor valued at $3,150,000 (effective 2022-12-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an investor
  - Value: $3,150,000
  - Effective: 2022-12-16
  source text: On December 16, 2022, Comstock Inc. (the “Company”) has entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an investor (the “Investor”), relating to the issuance of an 8.0% Convertible Promissory Note due March 16, 2024 (the “Convertible Note”). The Convertible Note was issued with an original aggregate principal amount of $3,150,000 (the “Face Value”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1120970/000112097022000093/0001120970-22-000093-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.