Company: RNGE
Filing Date: 2025-04-02
Form Type: 8-K
Source: 0001641172-25-002367
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Company: RANGE IMPACT, INC.
Filing Date: 2025-04-02
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

On
March 31, 2025, Range Sky View Land LLC (“ Range Sky”), a wholly-owned subsidiary of Range Impact, Inc. (the “ Company”),
entered into a Purchase and Sale Agreement (“ Purchase Agreement”) with AppleAtcha Land, LLC (“ AppleAtcha”)
and WV Reclaim Co, LLC (“ Reclaim,” and collectively with AppleAtcha, the “ Sellers”) pursuant to which
Range Sky agreed to purchase and assume, among other things: (i) approximately 120,000 acres of real property interests
located in Clay and Nicholas Counties, West Virginia, associated with the Fola Mining Complex, one of the largest mining complexes
in Appalachia (the “ Fola Mine Complex”), including surface land and mineral interest owned by Sellers;
(ii) certain real property agreements, including surface leases and solar leases, associated with the Fola Mine Complex;
(iii) certain coal royalty and overriding royalty agreements associated with the Fola Mine Complex; (iv) certain equipment and
other personal property located at the Fola Mine Complex; (v) related accounts receivable owing to Sellers; and (vi) to the extent
transferrable and subject to all required governmental approvals, fifteen (15) permits associated with the Fola Mine Complex
((i) through (vi) collectively, the “ Purchased Assets”) in exchange for $2,958,516 (“ Purchase Consideration”)
comprised of (a) certain assumed liabilities relating to the Purchased Assets and (b) a credit against the amounts owed by Sellers to
Range and its subsidiaries for the provision of various reclamation, mining and security services provided at the Fola Mine Complex.
The Purchase Agreement contains terms, conditions, covenants, indemnification provisions, and representations and warranties from
each of the respective parties that are customary and typical for a transaction of this nature.

AppleAtcha is a wholly-owned subsidiary
of Fola Landholding, LLC (“ Fola Holding”). Fola Holding is 80%-owned by Tower IV, LLC, an investment entity 100%-owned
by the immediate family of Joseph E. LoConti, the Company’s largest shareholder (“ LoConti”). LoConti
is a manager of Fola Holding and AppleAtcha. Devica Capital, LLC (“ Devica”), owns the remaining 20% of Fola
Holding. Michael Cavanaugh, the Company’s Chief Executive Officer and member of