Comstock Inc. (NYSE: LODE) has successfully repurchased and retired a substantial number of its common shares, resulting in a leaner, more efficient share structure and the prospect of enhanced shareholder value. On Jan. 8th, 2024, the company announced the reacquisition and cancellation of 2,605,322 shares previously issued and held by the fully-owned subsidiary LINICO Corporation.
Share Retirement Enhances Shareholder Value
Comstock’s leadership, spearheaded by Executive Chairman and CEO Corrado De Gasperis, capitalized on the acquisition of the remaining interest in LINICO to conduct this value-accretive move. By reducing its outstanding shares to 115,256,759, Comstock reinforces its commitment to driving up per-share value for its investors.
Strategic Transactions with LINICO and Aqua Metals
In recent transactions, LINICO, now entirely owned by Comstock, secured from Aqua Metals, Inc. all remaining LINICO equity for $600,000, structured in twelve equal monthly payments. Comstock’s financial backing of LINICO’s obligations underscores the strategic importance of these moves. Additionally, LINICO owns significant assets, including 35,662 Series Seed Preferred Shares in Green Li-Ion Pte. Ltd., further reflecting the deep interplay between the entities within Comstock’s innovative eco-system.
About Comstock Inc.
Comstock specializes in harnessing under-utilized natural resources to engineer renewable energy products, aided by physics-based AI. A pioneer in systemic decarbonization, Comstock continually drives the energy transition forward, a commitment reflected in its streamlined operations and corporate actions.
For investor inquiries:
RB Milestone Group
Tel (203) 487-2759
For media inquiries or questions:
Zach Spencer, Comstock Inc.
Tel (775) 847-7532
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