Comstock Amends Agreements With RenFuel-March 2024-www.financetom.com

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Comstock Amends Agreements With RenFuel

Jun 10, 2024 9:33 AM

12:00 PM EDT, 06/10/2024 (MT Newswires) -- Comstock (LODE) said Monday it had amended agreements with RenFuel K2B regarding the development of RenFuel's pre-existing, planned biorefinery project in Sweden.

The amended agreements facilitate the liquidation of RenFuel's RenFuel K2B Lignolproduktion subsidiary, which was formed for a joint venture with Preem, and anticipate expanding the scope of Comstock's partnership with RenFuel in the European markets, Comstock said.

The liquidation does not affect existing agreements, except Comstock will not exercise its option to acquire a stake in the joint venture, according to Comstock. Neither Comstock nor RenFuel have funding obligations to the joint venture or are subject to liquidation proceedings, Comstock added.

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