Range Impact sells non-core assets to cancel $2.94M debt; exits AML business

RANGE IMPACT, INC.

On Aug 22, 2024, Collins Building sold mechanic shop, stone quarry, vehicles to Collins-owned entities in exchange for discharge of $2,940,836 in promissory notes.
Assets were originally acquired from Roger L. Collins Jr. in Aug 2023 to expand into abandoned mine land (AML) reclamation in West Virginia.
Board decided to exit AML business due to administrative/operational challenges; will now focus on reclaiming and repurposing company-owned mine sites.
Deal was structured as a full cancellation of outstanding principal and accrued interest; no cash changed hands.
CEO Cavanaugh stated sale allows the company to focus capital on land arbitrage investing for long-term shareholder value.

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