Comstock restructures ASTC IP payments with 5M share issuance; extends Haywood Quarry purchase

Comstock Inc.

Issues 4,975,000 shares to ASTC to replace remaining $3.5M cash obligation plus 12% annual interest on unpaid balance.
True-up payment due April 30, 2025; excess value of unsold shares may reduce future license royalties.
Haywood Quarry purchase price increased to $2.2M; closing extended to June 30, 2025.
Monthly cash payments of $75k ($60k applied to purchase price) until $2.2M total paid.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Comstock Inc. amended License Agreement Amendments with American Science and Technology Corporation (effective 2024-04-02).

Action: amendment
Agreement: license
Counterparty: American Science and Technology Corporation
Effective: 2024-04-02

Exact text from the filing

On April 2, 2024, after the purchase of all outstanding equity interests of Comstock IP by the Company, the parties amended the License Agreements and the Asset Purchase Agreement (the “License Agreement Amendments”)

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Comstock Inc. filing history →

Source: SEC EDGAR

accession 0001120970-24-000030

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