Comstock Inc. filed SEC Form 8-K: Other Events

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Date of Report (Date of earliest event reported): December 30, 2024

 

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Registrant’s Telephone Number, including Area Code: (775) 847-5272

 

 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.      ☐

 

 

 

On September 18, 2024, Comstock Fuels Corporation (“Comstock Fuels”), a subsidiary of Comstock Inc. (the “Company”), executed a term sheet with SACL Pte. Ltd. (“SACL”), a Singapore-based project development and management company that intends to develop renewable energy projects in Australia and New Zealand (the “Territory”). The term sheet is non-binding but binding in respect of the essential economic terms until such time as definitive agreements are executed amongst the parties.

 

On November 18, 2024, Comstock Fuels and SACL executed an amendment to the term sheet to increase SACL’s territory to facilitate the financing, construction, and operation of SACL’s first planned site in Vietnam. The amended term sheet called for execution and closing of all the associated definitive agreements on or before December 31, 2024.

 

On December 30, 2024, Comstock Fuels and SACL agreed to modify the non-binding term sheet and extend the execution and delivery of all of the mutually acceptable, definitive documents on or before January 31, 2025.

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.