Comstock Fuels signs non-binding term sheet with Marathon for potential equity, offtake, and JV agreements

Comstock Inc.

Marathon to contribute assets and cash to Comstock Fuels for equity on same terms as Series A financing.
Marathon will offtake advanced biomass-based intermediates and fuels from Comstock Fuels' planned demo facility.
Marathon will provide support services in exchange for a warrant to purchase additional equity in Comstock Fuels.
Term sheet binding on economic terms until definitive agreements or termination by June 30, 2025.
Comstock Fuels and Marathon not obligated to execute final agreements if terms not finalized.

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