Comstock Inc. enters into $5.3 million convertible note agreement with investor

Comstock Inc.

Initial tranche of $3.5 million funded on September 19, 2024, with 6% original issue discount.
Convertible note carries 6% interest, prepayable at 120% of principal, and convertible at 200% of closing price initially.
Company issued restricted shares equal to 2% and registered shares equal to 3% of principal amount as additional consideration.
Investor prohibited from short selling while note is outstanding; company restricted from variable rate transactions.
Press release also notes SBCC term sheet for up to $325 million funding and updates on fuels and metals commercialization.

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