Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 223

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 223
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-capitalized solar developers to convert the former
mine land into a large solar energy facility on a majority of the acquired surface acreage, as well as additional acreage for commercial,
industrial, recreational and residential development pursuant to which the solar developer would pay a negotiated amount on a per acre
basis.

On
March 31, 2025, the Company 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 pursuant to which the Company acquired 15 mining permits with an
estimated reclamation obligation of $29,282,126. The Company also assumed an obligation to manage an additional 21 mining permits
with an estimated reclamation obligation of $13,796,945. As a result of these transactions, the Company recorded AROs of $43,079,071 related to the Fola
Acquisition and capitalized an equal amount onto the fair value of the acquired land. The Company also assumed two
coal royalty contracts and one 25-year  lease with a multi-national corporation for the development of a large-scale solar
project located on more than 1,500 acres at the Fola Mine.

In
June 2025, the Company acquired an additional two mining permits at the Fola Mine and assumed an associated coal mining lease (“Winoc
Acquisition”). As part of the Winoc Acquisition, the Company recognized an asset retirement obligation of $10,399,477 and derecognized
a reclamation bond obligation of $5,184,920.

Range
Services

Range
Services is our operating business segment that provides environmental and operational support services to help reclaim and repurpose
former mine land into next-generation uses. All of the Company’s reclamation, water treatment and security employees, equipment
and trucks, and technological innovations are classified within the Range Services business segment. Range Services is dedicated to reclaiming
and repurposing land owned by the Company and does not currently provide any reclamation, water treatment or security services to third-parties.

Reclamation
support services on mine sites includes grading, recontouring, revegetation, erosion control, and other activities necessary to meet
federal and state post-mining land use requirements. Water treatment services include the operation and maintenance of passive and active
treatment systems designed to manage and treat mine-impacted water, including acid mine drainage, in compliance with applicable environmental
permits. Range Services is also responsible