Spin-off - Comstock Inc.

Form Type: 8-K

Filing Date: 2025-05-28

Corporate Action: Spin-off

Type: New

Accession Number: 000143774925018680

Filing Summary: On May 22, 2025, Comstock Inc. completed the successful separation of its renewable fuels segment into a new independent entity named Bioleum Corporation. This action marks the first phase of Comstock's strategic plan to create two distinct companies, focusing one on renewable metals and mining in Nevada, while the other concentrates on renewable fuels in Oklahoma. The transaction involved several agreements, including an Assignment that allowed Comstock Fuels Corporation to assign its assets related to low-carbon transportation fuels and receive convertible preferred stock from Bioleum. The agreements established various aspects such as cash payments, issuance of shares, voting rights, and management services to ensure a smooth transition of the business post-separation. Notably, Kevin Kreisler was appointed as the CEO of Bioleum Corporation following this division.