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  Title	Form 8-K - Current report
  ID	4413741
  External ID	7299609184
  Author	Unknown
  Published Date	Nov. 13, 2024, 3:48 p.m.
  Summary	false UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report
  Tags	press-release
  URL	https://mx.advfn.com/bolsa-de-valores/amex/lode/noticias/94904914/form-8-k-current-report
  Sentiment	Negative: 0.02317    Neutral: 0.94623    Positive: 0.03060
  Relevance	0.02899

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  Content ID	2631216
  Key	fcd168da-ae55-4442-82c8-24d5fe5b641d
  Content	false UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 6, 2024 COMSTOCK INC. (Exact Name of Registrant as Specified in its Charter) Nevada (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number) 117 American Flat Road Virginia City Nevada (Address of Principal Executive Offices, including Zip Code) Registrant's Telephone Number, including Area Code: ( Not Applicable (Former Name or Former Address, if Changed Since Last Report) 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: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock , par value $0.000666 per share LODE NYSE AMERICAN 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). Emerging growth company ☐ 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. ☐ Item 1.01 Entry into a Material Definitive Agreement. On November 6, 2024, Comstock Inc. (the “Company”), Deep Interstellar Research LLC (“DIR”) and Quantum Generative Materials LLC (“GenMat”) entered into a new agreement pursuant to which (i) the Company obtained 100% ownership of a wholly-owned subsidiary of GenMat Licensing LLC (“ AICo ”), in exchange for all equity of GenMat previously owned by the Company, (ii) GenMat granted AICo a non-exclusive end user right and license (“ EULA ”) to use GenMat's now and hereafter existing Intellectual Properties, including, without limitation, GenMat's commercially available artificial intelligence for materials science services and products, and all current imaging and other data, analytics, artificial intelligence and other models, and other information, in both the form of data and a promulgated report, relating to Comstock's mining properties in Nevada, and (iii) a credit against the amounts payable under the EULA equal to 100% of the Company's cumulative historical investments in GenMat. Item 1.02 Termination of a Material Definitive Agreement. Reference is hereby made to the following documents (collectively, the “Transaction Documents”): (i) that certain non-binding memorandum of understanding dated April 25, 2024, by and between the Company and GenMat (the “MOU”), (ii) that certain binding letter agreement effective October 1, 2024, by and between the Company, Deep Interstellar Research Inc. (“DIR”), and GenMat (the “Letter Agreement”), (iii) that certain Limited Liability Company Operating Agreement effective June 24, 2021 (“Operating Agreement”), by and between the Company, DIR, and GenMat, (iv) the membership interest purchase agreement related to the Company's investment in GenMat dated June 24, 2021 (the “MIPA”), and (v) the various documents, instruments, and agreements executed in connection with the Operating Agreement, the MOU, the Letter Agreement and the MIPA. On November 6, 2024, the Company and GenMat also mutually agreed to terminate all of the Transaction Documents. The foregoing description of the Assignment Agreement is qualified in its entirety by reference to the full text of the Assignment Agreement, a copy of which is filed as Exhibits 10.1, to this Current Report on Form 8-K and incorporated herein by reference. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Assignment Agreement Press release Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. COMSTOCK INC. Date: November 13, 2024 By: /s/ Corrado De Gasperis Corrado De Gasperis Executive Chairman and Chief Executive Officer Exhibit 10.1 DEEP INTERSTELLAR RESEARCH INC 1-19483 74th Avenue Surrey, BC V4N 6V7 RE: ASSIGNMENT AGREEMENT Reference is hereby made to that certain Limited Liability Company Operating Agreement effective June 24, 2021 (“ Operating Agreement ”), by and between COMSTOCK INC. (F/K/A COMSTOCK MINING INC.) (“ Comstock ”), DEEP INTERSTELLAR RESEARCH INC (“ DIR ”), and QUANTUM GENERATIVE MATERIALS LLC (“ GenMat ”), and various documents, instruments, and agreements executed in connection therewith (collectively, the “ Transaction Documents ”). Reference is hereby further made to that certain non-binding memorandum of understanding dated April 25, 2024, by and between Comstock and GenMat (“ MOU ”), and that certain agreement effective October 1, 2024, by and between Comstock, DIR, and GenMat (“ Letter Agreement ”). This assignment agreement (this “ Agreement ”), dated and effective as of November 6, 2024 (the “ Effective Date ”), shall confirm, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the agreement of the undersigned (each a “ Party ” and, collectively, the “ Parties ”), intending to be legally bound, to the following terms and conditions: Transfers to GenMat . GenMat's wholly-owned subsidiary, GENMAT DEVELOPMENT LLC (“ DevCo ”), agrees to assign and hereby assigns to GenMat for no additional consideration (i) 100% of DevCo's right, title and interest in, to, and under 100% of DevCo's operations, assets, and liabilities, including, without limitation, (a) GenMat's satellite, mission control software, geospatial modeling software, applicable Intellectual Properties, switch data center, and minority equity investment, and all related agreements, rights, and obligations pertaining thereto (collectively, the “ Space Assets and Liabilities ”), and (b) all other operations, assets, and liabilities relating to GenMat's space development activities that are itemized in Exhibit A hereto (“ Space Business ”); and (ii) 100% of GenMat's right, title and interest in, to, and under GenMat's materials science development activities (“ Materials Science Business ”), including, without limitation, GenMat's physics-based high performance and artificial intelligence computing platforms for use in simulating materials (“ ZenoMDP ”), and any and all operations, Intellectual Properties, other assets, and liabilities that are not explicitly included in the Space Assets and Liabilities, and all related agreements, rights, and obligations pertaining thereto (collectively, the “ Materials Science Assets and Liabilities ”). GenMat's wholly owned subsidiary, GENMAT LICENSING LLC (“ IPCo ”), also agrees to assign and hereby assigns to GenMat 100% of IPCo's right, title and interest in, to, and under the Space Assets and Liabilities and the Materials Science Assets and Liabilities, and all related agreements, rights, and obligations pertaining thereto for no additional consideration, with no residual rights to Comstock. End User License to IPCo . GenMat hereby grants, and IPCo hereby accepts, a non-exclusive end user right and license (“ EULA ”) to use GenMat's now and hereafter existing Intellectual Properties as they relate to material science applications (collectively, the “ Licensed IP ”). The Licensed IP includes, without limitation, (i) ZenoMDP, (ii) GenMat's commercially available artificial intelligence and materials science services and products, and (iii) all imaging and other data, analytics, artificial intelligence and other models, and other information, in both the form of data and a promulgated report, relating to Comstock's mining properties in Nevada (collectively, the “ Licensed IP ”), on and subject to GenMat's prevailing pricing and other commercial terms of service, privacy policy, acceptable use policy, service-level agreements, and such other third party end user license terms as may be adopted by GenMat from time to time in GenMat's sole discretion. Upon IPCo's reasonable written request, GenMat shall provide to IPCo all access, documentation, specifications, operating instructions, and all other information reasonably required for IPCo to use and practice the Licensed IP under the EULA (“ EULA Documentation ”). The EULA shall expire on the expiration date of the last to expire claim of the last to expire patent in the Licensed IP. a. GenMat Ownership of Licensed IP. For avoidance of doubt, and notwithstanding anything to the contrary herein, GenMat shall own all right, title and interest in, to, and under all now and hereafter existing Licensed IP and patented developments and improvements thereto, regardless of whether such developments are made by GenMat, IPCo, Affiliates, third parties, or jointly by one or more of the foregoing unless otherwise specified in a separate agreement for future joint development. If any such ownership interest shall become vested in IPCo by operation of law or otherwise, then IPCo agrees to assign and hereby assigns all such ownership interests to GenMat without further consideration, consistent with this Section 2. For avoidance of doubt, and notwithstanding anything to the contrary herein, IPCO shall own 100% of all hereafter existing IPCo Intellectual Properties developed by IPCo with the Licensed IP, regardless of whether such developments are made by GenMat, IPCo, Affiliates, third parties, or jointly by one or more of the foregoing unless otherwise specified in a separate agreement for future joint development. If any future collaboration, joint venture, or service model between GenMat and IPCo (or their Affiliates) results in jointly developed IP, ownership and rights to such IP shall be governed by a separate agreement, and this EULA shall not preclude or override the possibility of joint ownership. GenMat shall cause the EULA to be assumed by its successor in the event of a sale or assignment of substantially all of GenMat's equity and/or assets. Equity Exchange . GenMat shall purchase and redeem 100% of Comstock's equity in GenMat (“ Redemption Units ”) in exchange for (i) 100% of the issued and outstanding membership interest units of IPCo (“ IPCo Units ”), and (ii) a credit against all amounts payable to GenMat by IPCo under the EULA in an amount equal to (a) all amounts paid by Comstock to GenMat in exchange for the Redemption Units, (b) all amounts advanced under the MOU, and (c) all proceeds received by GenMat upon the direct sale by GenMat of shares of Comstock common stock (collectively, the “ EULA Payment Credit ”). GenMat shall retain full and unrestricted rights to sell, transfer, or otherwise dispose of its shares of Comstock common stock at any time and in any manner of its choosing, without requirement for Comstock's consent, approval, or prior notification. The timing, method, and amount of any such sale shall be at GenMat's sole discretion, and any proceeds from such sales shall be credited as part of the EULA Payment Credit as outlined above. Termination of Prior Agreements . Notwithstanding anything stated to the contrary in any prior agreement which may be in effect amongst the Parties, the Transaction Documents, MOU, and Letter Agreement shall be terminated effective immediately upon execution hereof and full performance by the Parties hereunder. Each of the Party's obligations under any previously existing agreements with the other Party are expressly nullified by this termination, with no residual commitments, responsibilities, or liabilities. GenMat hereby agrees and that term of each Comstock designee to the GenMat Management Committee expired on the first anniversary of the effective date of the GenMat Operating Agreement, pursuant to Section 6.2 thereof and Comstock shall have no further influence, input, or right of participation in GenMat's governance or operations, directly or indirectly. Relationship After Closing Date . Effectively immediately on the Effective Date, (i) Comstock and GenMat shall have no continuing contractual or other relationship, except as specifically set forth in this Agreement, which shall be strictly limited to the terms defined herein, and (ii) IPCo's sole relationship with GenMat shall be as licensee under the EULA. GenMat retains full control over the Licensed IP and its use under the terms of the EULA, and Comstock, through IPCo, shall have no authority to access, influence, or control any IP, operations, or business activities of GenMat outside the scope of the EULA. Nothing contained in this Agreement creates any agency, partnership, joint venture, or other form of joint enterprise, employment, or fiduciary relationship between the Parties, and neither Party has authority to bind the other Party in any capacity beyond the limited license arrangement defined herein. Covenants . No Party shall in any way, directly or indirectly, through another person or otherwise (whether as a proprietor, owner, agent, officer, director, shareholder, organizer, partner, principal, member, manager, employee, contractor, consultant or any other capacity): (i) make any negative or disparaging statements or communications of any kind regarding any other Party, including, without limitation, any such other Party's investors, shareholders, directors, officers, employees, representatives, agents, clients, affiliates, subsidiaries (“ Affiliates ”), plans, strategies, policies, procedures, prospects, business condition, assets, liabilities, products, or services; or (ii), interfere with or attempt to influence the business or operations of any other Party or its Affiliates unless explicitly directed by that Party. Release . On and subject to the terms and conditions hereof, effective immediately upon the Effective Date hereof, each Party (“ Releasor ”) shall irrevocably, unconditionally, fully, and forever release, and discharge, and covenant not to sue all other Parties and their Affiliates (“ Releasees ”) with respect to any and all claims, actions, defenses, causes of action, charges, liabilities, complaints, agreements, obligations, promises, controversies, damages, suits, rights, demands, duties, judgments, privileges, benefits, costs, expenses, and losses, of any kind, type, or nature whatsoever, whether in equity or at law, under contract, tort, securities, or other substantive right, known or unknown, foreseen or unforeseen, suspected or unsuspected, asserted or unasserted, contingent or otherwise (each, a “ Claim ”) that Releasor have, may have, or may claim to have arising under or related in any way to any action or transaction occurring prior to the Effective Date, with the sole exception of Claims specifically arising under this Agreement. General Terms and Conditions a. Authorization . The Parties, each on their own behalf, agree, represent, and warrant that it has all requisite power and authority to execute, deliver and perform this Agreement; that this Agreement has been duly and validly executed and delivered, and constitutes legal, valid and binding obligations in respect of the terms hereof; and, that the execution, delivery and performance by the Parties of this Agreement and the consummation of the actions contemplated herein have been duly authorized by all necessary action on behalf of the Parties. b. Further Assurances . The Parties agree to execute, acknowledge and deliver all such further instruments, and to do all such other acts as may be necessary or appropriate in order to carry out the intent and purposes of this Agreement. Each Party shall cooperate in good faith to avoid unnecessary delay or obstruction. c. Notices . Unless otherwise set forth in this Agreement, any notice required or permitted to be given by any Party herein to another Party shall be sent by facsimile, email (with confirmation of receipt), or mailed by a recognized courier service such as Federal Express and addressed as follows or addressed to the other Party at such other address as such Party shall hereafter furnish to the other Parties in writing. d. Severability . In the event any one or more of the provisions contained in this Agreement shall for any reason be held invalid, illegal or unenforceable by a court of competent jurisdiction,, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. The remaining provisions shall continue in full force and effect and shall be interpreted to fulfill the original intent of the Agreement to the maximum extent permitted by law. If necessary, the parties shall negotiate in good faith to replace the invalid, illegal, or unenforceable provision with a valid provision that achieves, as closely as possible, the intended effect of the original provision. Any such negotiated adjustment shall require mutual written consent. e. Amendment and Waiver . This Agreement may be amended only by a written agreement executed by the parties hereto. No provision of this Agreement may be waived except by a written document executed by the Party entitled to the benefits of the provision. No waiver of a provision will be deemed to be or will constitute a waiver of any other provision of this Agreement. A waiver of any provision will be effective only in the specific instance and for the specific purpose for which it was given and shall not be interpreted as a continuing waiver or as a waiver of any other provision. Any amendment or waiver attempt that does not meet these requirements shall be considered invalid and unenforceable. f. Parties in Interest . This Agreement shall be binding upon and inure solely to the benefit of each Party hereto and their respective successors and permitted assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit, or remedy of any nature whatsoever under or by reasons of this Agreement, nor shall any third party have standing to enforce any term of this Agreement. g. Entire Agreement . This Agreement constitutes the entire agreement of the Parties and supersedes any prior or contemporaneous agreements between the Parties. The Parties will be bound only by only by the specific terms contained in this Agreement, and no other representations or commitments shall be enforceable unless set forth in a written document signed by authorized representatives of both Parties. h. Counterparts . This Agreement may be executed in any number of counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which together shall constitute one and the same agreement. The Parties agree that facsimile, PDF, or other electronic copies of signatures shall have the same legal effect as original signatures, provided they are executed by an authorized representative of each Party. i. Specific Performance . The Parties hereto recognize that any breach of the terms this Agreement may give rise to irreparable harm for which money damages would not be an adequate remedy, and accordingly agree that any non-breaching Party shall be entitled to enforce the terms of this Agreement by a decree of specific performance without the necessity of proving the inadequacy as a remedy of money damages. The Parties recognize that any breach of this Agreement may give rise to irreparable harm for which monetary damages alone would not be an adequate remedy. Accordingly, any non-breaching Party shall be entitled to seek a decree of specific performance to enforce this Agreement without the necessity of proving that money damages would be inadequate. If specific performance is elected as a remedy, the parties shall engage in a good-faith mediation process facilitated by a neutral third-party mediator selected by mutual agreement, with each party bearing its own mediation costs. Should mediation fail to resolve the issue within 30 days, the non-breaching Party may proceed with enforcing specific performance. This provision for specific performance shall be in addition to any other remedies available at law or equity. j. Governing Law; Consent to Jurisdiction . This Agreement shall be governed by and interpreted in accordance with the laws of the State of Nevada, without regard to the principles of conflict of laws. Any dispute arising under, relating to or in connection with this Agreement or related to any matter which is the subject of or incidental to this Agreement, after application of this section, shall be subject to the exclusive jurisdiction and venue of the state and federal courts in Delaware. k. Independent Conduct . Each of the parties, notwithstanding anything to the contrary in this Agreement, shall be entitled to engage in whatever activities it chooses, whether the same or competitive with the other party or otherwise, without having or incurring any obligation to consult with, seek approval of, or offer any interest in such activities to, the other parties. Neither this Agreement nor any activity undertaken pursuant hereto shall prevent any party from engaging in such activities, or require any other party to participate in any such activities. As a material part of the consideration for the execution of this Agreement by each of the parties hereby waives, relinquishes and renounces any such right or claim of consultation, approval or participation. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK - SIGNATURE PAGE FOLLOWS] IN WITNESS WHEREOF the parties have duly executed, or caused their duly authorized representative, to execute this Agreement. DEEP INTERSTELLAR RESEARCH INC By: Signature: /s/ Deeptanshu Prasad Email: deep.prasad@genmat.xyz Name: Deeptanshu Prasad Title: Chief Executive Officer QUANTUM GENERATIVE MATERIALS LLC By: Signature: /s/ Deeptanshu Prasad Email: deep.prasad@genmat.xyz Name: Deeptanshu Prasad Title: Chief Executive Officer GENMAT DEVELOPMENT LLC By: Signature: /s/ Deeptanshu Prasad Email: deep.prasad@genmat.xyz Name: Deeptanshu Prasad Title: Chief Executive Officer GENMAT LICENSING LLC By: Signature: /s/ Deeptanshu Prasad Email: deep.prasad@genmat.xyz Name: Deeptanshu Prasad Title: Chief Executive Officer COMSTOCK INC. By: Signature: /s/ Corrado DeGasperis Email: degasperis@comstockinc.com Name: Corrado DeGasperis Title: Chief Executive Officer [SIGNATURE PAGE TO ASSIGNMENT AGREEMENT] EXHIBIT A CLOSING SCHDULE Space Assets and Liabilities Satellite; Mission control software, Geospatial modeling software, Applicable Intellectual Properties defined in Exhibit B related exclusively to the above Space Assets, Switch data center, and Minority equity investment in Extropic Inc. Materials Science Assets and Liabilities Zeno Materials Discovery Platform (“ZenoMDP”) Applicable Intellectual Properties defined in Exhibit B , relevant exclusively to materials science applications; and All other assets and liabilities directly related to materials science that are not included in the Space Assets and Liabilities. Comstock Shares and cash account (with no restrictions) 2,015,062 shares of Comstock common stock and $31,977.65 held in the brokerage account: Scarsdale Group Division of R. F. Lafferty & Co., Inc. 40 Wall Street, 29 th Floor New York, NY 10005 C/O Mr. Italo Passante Tel.: 646.825.4619 Main: 212-293-9090 www.rflafferty.com EXHIBIT B INTELLECTUAL PROPERTIES 1.1 “ Intellectual Property ” means any and all registered or unregistered patents, patent applications, other Patent Rights, inventions (whether or not patentable and whether or not reduced to practice), utility models, industrial models, statutory invention registrations, invention disclosures, Know-How, trademarks, copyrights, copyrightable works, copyright registrations, applications for copyright registration, mask works, mask work registrations, applications for mask work registration, and any other intellectual property or proprietary rights eligible for protection under the laws of any country, state, or jurisdiction including registrations, applications, innovation disclosures, certificates of invention, divisionals, divisions, continuations, continuations-in-part, patents of addition, provisional applications, reissues, renewals, extensions, certificates of reexamination, foreign counterparts, international counterparts, and extensions of such rights. 1.2 “ Know-How ” means algorithms, analyses, analytical data, analytical procedures, apparatuses, applications, assays, assembly procedures, assumptions, business strategies and tactics, commercialization strategies and tactics, communications, compositions, computer code, computer models, concepts, conclusions, Confidential Information, controls, data, data collections, databases, derivations, descriptions, designs, devices, discoveries, drawings, embodiments, engineering, estimates, equations, experiences, experiments, experiment designs, failure points, financial models, forecasts, formulae, formulations, heuristics, hypotheses, ideas, identities, images, improvements, industrial models, information, inferences, ingredients, innovations, instructions, interpretations, inventions, invention disclosures, knowledge, manufacturing data and procedures, mask works, materials, mathematics, methods, micrographs, milestones, mixtures, models, moral rights, notes, objectives, observations, operations, patterns, photographs, plans, practices, predictions, presentations, procedures, process sheets, processes, products, programs, protocols, prototypes, rate limiting factors, recipes, records, reports, requirements, research, results, scaling requirements, services, sketches, skills, software, specifications, statistical models, submissions, substances, summaries, supplier and sourcing information, systems, technical information, techniques, technologies, tests, theories, tolerances, trade secrets, transcripts, trials, variables, videos, visualizations, and the like, in all cases, whether or not confidential, proprietary information related to or concerning trademarks, copyrights, and patents, in written, electronic or any other form, and all intellectual property rights pertaining thereto. Know-How may be communicated or subsist in any form or medium (tangible, intangible, oral, written, electronic, observational, or other), and shall include any of the foregoing types of information and data produced at least in part by artificial intelligence, such as large language models, generative adversarial neural networks, machine learning algorithms, deep learning frameworks, and any other forms of computational intelligence. 1.3 “ Patent Rights ” means patents and patent applications, including, without limitation, (i) all national, regional and international patents and patent applications, including provisional patent applications, (ii) all patent applications filed either from such patents, patent applications or provisional applications or from an application claiming priority from either of these, including divisionals, continuations, continuations-in-part, provisionals, converted provisionals and continued prosecution applications, (iii) any and all patents that have issued or in the future issue from the foregoing patent applications ((i) and (ii)), including utility models, petty patents and design patents and certificates of invention, (iv) any and all extensions or restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions (including any supplementary protection certificates and the like) of the foregoing patents or patent applications ((i), (ii), and (iii)), and (v) any similar rights, including so-called pipeline protection or any importation, revalidation, confirmation or introduction patent or registration patent or patent of additions to any of such foregoing patent applications and patents. Exhibit 99.1 COMSTOCK COMPLETES GENMAT TRANSACTION Strategic Investment in Artificial Intelligence for Materials Discovery in Energy Applications VIRGINIA CITY, NEVADA, November 13, 2024 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the acquisition of 100% of the equity of GenMat Licensing LLC (“ AICo ”) in exchange for 100% of the Company's equity in Quantum Generative Materials LLC (“GenMat”). AICo holds a non-exclusive end user right and license (“ EULA ”) to use GenMat's now and hereafter existing artificial intelligence (“AI”) for materials science technologies, services and products, as well as all current satellite imaging and other data, analytics, and artificial intelligence and other models relating to Comstock's mining properties in Nevada. AICo also holds a credit against the amounts payable under the EULA equal to 100% of the Company's cumulative historical investments in GenMat. “Our interest in artificial intelligence reflects the critical need to develop and use artificial intelligence for materials science and mineral discovery, especially for breakthrough energy applications in our current and future addressable markets,” said Corrado De Gasperis, Comstock's executive chairman and chief executive officer. “Artificial intelligence is even more critical today, as rapidly evolving AI platforms have begun to accelerate the pace of global innovation and redefine industries and competitive requirements. We look forward to further developing and integrating these solutions into our businesses.” GenMat is expected to continue developing its commercial materials science discovery platform (“ZENOMDP”) and its proprietary artificial general physics intelligence technologies (“AGPI”). In the meantime, the capabilities of commercially available AI technologies are accelerating at increasing rates, including the creation of generative, physics-based AI technologies such as GenMat's ZenoMDP, that are new and demonstrate high potential for harnessing known science and enhancing the innovation, commercialization, and scaling of new technologies in exponentially shorter cycle times. Important and promising use cases for developing, commercially available physics-based AI technologies include materials science applications with new arrangements of atoms, molecules, and physical systems, as well as enhancing industrial chemical processes. Each application offers tremendous potential for Comstock's existing lines of business, such as by accelerating new catalysts, decreasing carbon intensities, decreasing development costs, decreasing capital costs and increasing throughput and profitability. Kevin Kreisler, Comstock's chief technology officer, added, “Incorporating the bleeding edge of emerging physics-based AI technologies into our focused and purposeful innovation efforts will dramatically enhance our capacity to rapidly develop and scale solutions for producing, distributing, storing, and using energy more effectively, expediently and efficiently, thereby accelerating the rate that we commercialize our solutions, enabling systemic decarbonization and generate exceptional shareholder value.” Mr. Kreisler leads Comstock's ongoing technology development and commercialization efforts, including as part of Comstock's growing innovation capabilities, projects, and partner networks. About Comstock Inc. Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily, woody biomass into low-carbon renewable fuels, end-of-life metal extraction and renewal, and generative AI-enabled advanced materials synthesis and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc Comstock Social Media Policy Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its Twitter LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Contacts For investor inquiries RB Milestone Group LLC Tel (203) 487-2759 ir@comstockinc.com For media inquiries or questions Comstock Inc., Tracy Saville Tel (775) 847-7573 questions@comstockinc.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: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. 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: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, 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 our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our 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; assertion of claims, lawsuits and proceedings against us; 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 Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or 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. v3.24.3 Document And Entity Information Nov. 06, 2024 Document Information [Line Items] Entity, Registrant Name COMSTOCK INC. 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  Content Reference URL	None

• Publisher

  Publisher Name	Advanced Financial Network (#1592)
  Publisher URL	https://www.advfn.com
  Description	None
  Trust Flow Score	61
  Citation Flow Score	45

• Data Source

  Data Source Name	Quantexa News (#5)
  Data Source Type	news
  Data Source URL	https://app.aylien.com/dashboard
  Description	Welcome to Quantexa News API — the most powerful way to aggregate, filter, and integrate global news data into your apps and models.
  Weight	10