Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 8

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 an environmental services
business primarily focusing on the reclamation of abandoned mine land sites in West Virginia.

In
September 2023, the Company, through its wholly-owned subsidiary CLV Azurite Land, LLC, acquired 1,745 acres of surface land and mineral
interests at the Hobet mine complex (“Hobet Mine”) located in Lincoln and Boone Counties, West Virginia, from three private
landowners in three separate transactions for a total cash purchase price of $948,376 (“Hobet Acquisition”).

In
December 2023, the Company changed its name to Range Impact, Inc., and reorganized into five operating business segments: (i) Range Reclaim,
(ii) Range Water, (iii) Range Security, (iv) Range Land, and (v) Drug Development. In January 2024, the Company added Range Minerals
as a sixth operating business segment. Range Minerals was previously reported within the Range Reclaim operating business segment. The
Drug Development segment was also renamed Graphium Biosciences.

In
August 2024, the Company sold substantially all of the assets of Collins Building to its previous owner in exchange for the cancellation
of all remaining debt owed to him (“Collins Sale”).

In September 2024, the Company sold Graphium Biosciences, Inc. and all
of its drug development assets (“Graphium Sale”). The Collins Sale and Graphium Sale are described in more detail in Note
4.

In
March 2025, the Company, through its wholly-owned subsidiary Range Sky View Land, LLC, acquired 120,154
acres of fee, surface and mineral interests at the Fola mine
complex (“Fola Mine”) located in Clay and Nicholas Counties, West Virginia (“Fola Acquisition”). As part of the
Fola Acquisition, the Company acquired 15 mining permits at the Fola Mine with an estimated reclamation obligation of $29.3
million and assumed an obligation to manage an additional 21
mining permits at the Fola Mine with a reclamation bond amount of $13.8
million. The Company also assumed two coal royalty contracts
and one 25-year solar lease with a multi-national corporation for the development of a large-scale solar project located on more than
1,000
acres at the Fola Mine. The Fola Acquisition is described in
more detail in Note 3.

On May 30, 2025, Range Sky View Land LLC (“Range Sky”), a