Comstock Announces Results of Annual Shareholders Meeting
June 02 2022 - 6:45AM
Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced
today that it had conducted its Annual Meeting of Shareholders on
May 26, 2022, providing shareholders updates on the Company’s
commercialization of decarbonization technologies and businesses,
including the Company’s electrification (“LiNiCo”) and cellulosic
fuels (“Bioleum™”) products.
Annual General Meeting
The Company’s Executive Chairman, Mr. Corrado De
Gasperis, presided over the annual meeting, held in Reno, Nevada,
and presented the Company’s new Vision, Mission and Goal, including
a summary of the major differentiators in each of the Company’s
decarbonization technologies and businesses. The meeting
represented one of the largest shareholder turnouts.
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The meeting continued with presentations on the
electrification and cellulosic fuels businesses.
Electrification Products
The Company announced the completion of its
first pilot facility for breakthrough LIB crushing, separating, and
conditioning process, and displayed the system’s ability for
producing black mass during the annual meeting, successfully
confirming LIB processing without discharge and the production of
highly concentrated “black mass” powders. Demonstration models and
product samples were available for viewing by all shareholders
present at the meeting. The update was presented by the Company’s
Chief Operating Officer, Mr. William McCarthy.
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The research and development facility will
complete a series of remaining trials, with existing varieties of
LIB batteries on hand, before being permanently deployed into
LiNiCo’s state-of-the art battery recycling facility in Nevada
later this year.
“Our novel crushing and separating systems
deliver a number of unique features enabling a broader range of LIB
feedstocks that produce high purity black masses for a variety of
downstream extraction processes,” said Corrado De Gasperis,
Comstock’s executive chairman and chief executive officer. “The
system is so versatile that we can manufacture large scale,
centralized deployments and much smaller-scale, fast and profitable
localized deployments.”
The Company is completing a modified air quality
permit for its LIB processes at LiNiCo’s state-of-the-art recycling
facility in Nevada, as well as the permit for its new battery
storage and transfer facility in Nevada, for submission during this
second quarter of 2022, and expects to receive all required
permits, including the previously submitted permits, this year.
Cellulosic Fuels
The Company overviewed the competitive
advantages of its cellulosic fuels technology as it pertained to
variables such as availability of feedstocks for continuous growth,
lower costs of feedstocks, enhanced carbon impact and resulting
higher revenues, especially its expansion into Bioleum and its
derivatives, drop in diesel, sustainable aviation and marine fuels,
among others. The Company is currently expanding its existing
cellulosic demonstration systems in Wisconsin to include the
production of Bioleum. Demonstration models and product samples
were available for viewing by all shareholders at the meetings. The
update was presented by the Company’s Chief Technology Officer, Mr.
David Winsness.
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About Comstock
Comstock (NYSE: LODE) innovates technologies
that contribute to global decarbonization and circularity by
efficiently converting under-utilized natural resources into
renewable fuels and electrification products that contribute to
balancing global uses and emissions of carbon. The Company intends
to achieve exponential growth and extraordinary financial, natural,
and social gains by building, owning, and operating a fleet of
advanced carbon neutral extraction and refining facilities, by
selling an array of complementary process solutions and related
services, and by licensing selected technologies to qualified
strategic partners. To learn more, please visit
www.comstock.inc.
Forward-Looking
Statements
This press release and any related calls or
discussions may include forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical facts, are
forward-looking statements. The words “believe,” “expect,”
“anticipate,” “estimate,” “project,” “plan,” “should,” “intend,”
“may,” “will,” “would,” “potential” and similar expressions
identify forward-looking statements, but are not the exclusive
means of doing so. Forward-looking statements include statements
about matters such as: future industry market conditions; future
explorations or acquisitions; future changes in our exploration
activities; future changes in our research and development; and
future prices and sales of, and demand for, our products and
services. Except as may be required by securities or other law, we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Neither this press release nor any related call
or discussion constitutes an offer to sell, the solicitation of an
offer to buy or a recommendation with respect to any securities of
the Company, the fund or any other issuer.
Contact information: |
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Comstock Mining Inc.P.O. Box 1118 Virginia City, NV
89440www.comstock.inc |
Corrado De GasperisExecutive Chairman & CEOTel (775)
847-4755degasperis@comstockmining.com |
Zach SpencerDirector of External RelationsTel (775) 847-5272
Ext.151questions@comstockmining.com |
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