- Comstock Mining (NYSEMKT:LODE) -14.7% pre-market after announcing the sale of 4M common shares at $4.00/share in a registered direct offering.
- The company plans to use the proceeds to fund its acquisition of a majority equity stake in lithium-ion battery recycling company Linico Corp., investments in Mercury Clean Up LLC, mineral acquisition and development, and general corporate purposes.
- Last month, Comstock agreed to pay $4.5M in cash and 3M restricted common shares, representing $10.75M for as much as a 64% ownership stake in Linico.