Comstock sells legacy mining assets to Mackay for over $45M; receives $20M cash, stock, royalty

Comstock Inc.

Sells 100% of four subsidiaries (Comstock Mining, Processing, Exploration & Development, Real Estate) to Mackay Precious Metals Inc.
Total cash consideration: $20M initial + $7M secured 18-month note + $10M contingent payment if mine construction or change of control within 7 years.
Comstock to retain 1.5% NSR royalty on all minerals; Mackay may repurchase royalty for $3.5M ($7M if contingent not triggered).
Closing expected early July 2026 subject to TSX-V approval; Comstock expects >$1.5M annual cost savings from divestiture.

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