Comstock Inc. (NYSE:LODE) a leader in hard technology developments enabling clean energy, today announced the execution of an indicative term sheet for $325 million (about $315 million net of transaction fees) in funding through SBC Commerce LLC ("SBCC"), a U.S. based, globally positioned, private equity group. The transaction is subject to final due diligence and applicable regulatory approvals.

This significant series of milestones, representing a combination of direct investments and certain asset sales, recognizes significant valuations, nearly $500 million, for the Company's three businesses and secures timely and essential growth capital to advance, elevate and accelerate the commercialization of the Company's fuels, metals and mining businesses.

Asset Sales of $50 million

SBCC agreed to acquire 100% of Comstock's directly owned industrial and commercial real estate and water rights in Nevada. Comstock will receive gross proceeds of $50 million ($47 million, net of transaction expenses) which, upon closing, will be used for the elimination of debt and other obligations, continued development and growth of the Company's strategic portfolio of advanced technologies for the energy transition and general corporate purposes.