Comstock Mining Inc. (the “Company”) (NYSE: LODE) announced that it
has entered into securities purchase agreements for the sale of
4,000,000 shares of its common stock at a price of $4.00 per share
in a registered direct offering. No warrants will be issued in
connection with the transaction. The closing of the offering is
expected to occur on or about March 4, 2021, subject to the
satisfaction of customary closing conditions.
Noble Capital Markets, Inc. is acting as the sole placement
agent for the offering.
The Company intends to use the net proceeds from the offering to
fund the LINICO Corporation acquisition, previously announced on
February 17, 2021, investments in Mercury Clean Up LLC, mineral
acquisition and development, and general corporate purposes.
The share offering will be made under the Company’s effective
shelf registration statement on Form S-3 (File No. 333-229890)
previously filed with the Securities and Exchange Commission
(“SEC”). A prospectus supplement describing the terms of this
proposed offering will be filed with the SEC. When available,
electronic copies of the prospectus supplement and accompanying
base prospectus may be obtained from Noble Capital Markets, Inc. at
225 N.E. Mizner Boulevard, Suite 150, Boca Raton, Fl 33431 Attn.
Prospectus Department, or by telephone at 561-994-1191, or by email
at info@noblecapitalmarkets.com. Before investing in this offering,
interested parties should read the other documents that the company
has filed with the SEC that are incorporated by reference in such
prospectus supplement and the accompanying prospectus, which
provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any shares of the Company’s common
stock, nor shall there be any sale of these securities in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering may be made
only by means of a prospectus and a related prospectus supplement,
which have been or will be filed with the SEC.
About Comstock Mining Inc.
Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging
leader in sustainable mineral development and production of
environment-enhancing, increasingly scarce strategic and precious
metals, focused on conservation-based waste, high-value,
cash-generating, mineral and metals essential to meeting the
rapidly increasing demand for clean energy technologies. The
Company has extensive, contiguous property in the historic,
world-class Comstock Lode mining district with fully permitted,
metallurgical labs and an operational, mineral processing and
beneficiation platform that includes a growing portfolio of mercury
remediation, gold and silver extraction facilities. To learn more,
please visit www.comstockmining.com.
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: consummation of all pending transactions; project,
asset or Company valuations; future industry market conditions;
future explorations, acquisitions, investments and asset sales;
future performance of and closings under various agreements; future
changes in our exploration activities; future estimated mineral
resources; future prices and sales of, and demand for, our
products; future operating margins; available resources;
environmental conservation outcomes; future impacts of land
entitlements and uses; future permitting activities and needs
therefor; future production capacity and operations; future
operating and overhead costs; future capital expenditures and their
impact on us; future impacts of operational and management changes
(including changes in the board of directors); future changes in
business strategies, planning and tactics and impacts of recent or
future changes; future employment and contributions of personnel,
including consultants; future land sales, investments,
acquisitions, joint ventures, strategic alliances, business
combinations, operational, tax, financial and restructuring
initiatives; the nature and timing of and accounting for
restructuring charges and derivative liabilities and the impact
thereof; contingencies; future environmental compliance and changes
in the regulatory environment; future offerings of equity or debt
securities; asset sales and associated costs; future working
capital, costs, revenues, business opportunities, debt levels, cash
flows, margins, earnings and growth. These statements are based on
assumptions and assessments made by our management in light of
their experience and their perception of historical and current
trends, current conditions, possible future developments and other
factors they believe to be appropriate. Forward-looking statements
are not guarantees, representations or warranties and are subject
to risks and uncertainties, many of which are unforeseeable and
beyond our control and could cause actual results, developments and
business decisions to differ materially from those contemplated by
such forward-looking statements. Some of those risks and
uncertainties include the risk factors set forth in our filings
with the SEC and the following: counterparty risks; capital
markets’ valuation and pricing risks; adverse effects of climate
changes or natural disasters; global economic and capital market
uncertainties; the speculative nature of gold or mineral
exploration, including risks of diminishing quantities or grades of
qualified resources; operational or technical difficulties in
connection with exploration or mining activities; contests over
title to properties; potential dilution to our stockholders from
our stock issuances and recapitalization and balance sheet
restructuring activities; potential inability to comply with
applicable government regulations or law; adoption of or changes in
legislation or regulations adversely affecting businesses;
permitting constraints or delays; decisions regarding business
opportunities that may be presented to, or pursued by, us or
others; the impact of, or the non-performance by parties under
agreements relating to, acquisitions, joint ventures, strategic
alliances, business combinations, asset sales, leases, options and
investments to which we may be party; changes in the United States
or other monetary or fiscal policies or regulations; interruptions
in production capabilities due to capital constraints; equipment
failures; fluctuation of prices for gold or certain other
commodities (such as silver, zinc, cyanide, water, diesel fuel and
electricity); changes in generally accepted accounting principles;
adverse effects of terrorism and geopolitical events; potential
inability to implement business strategies; potential inability to
grow revenues; potential inability to attract and retain key
personnel; interruptions in delivery of critical supplies,
equipment and raw materials due to credit or other limitations
imposed by vendors or others; assertion of claims, lawsuits and
proceedings; potential inability to satisfy debt and lease
obligations; potential inability to maintain an effective system of
internal controls over financial reporting; potential inability or
failure to timely file periodic reports with the SEC; potential
inability to list our securities on any securities exchange or
market; inability to maintain the listing of our securities; and
work stoppages or other labor difficulties. Occurrence of such
events or circumstances could have a material adverse effect on our
business, financial condition, results of operations or cash flows
or the market price of our securities. All subsequent written and
oral forward-looking statements by or attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
these factors. 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 calls or discussions
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:
Comstock Mining Inc.P.O. Box
1118Virginia City, NV 89440www.comstockmining.com |
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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