Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 203

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 203
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 Land, through its wholly-owned subsidiary, CLV Azurite Land, LLC (“CLV Azurite”), acquired over 1,700
acres of surface interest at an idled mine complex in West Virginia. CLV Azurite is in active discussions with the holder of the permits
and bonds associated with the acquired land in order that the acquired surface acreage can be repurposed for alternative non-fossil fuel
uses. CLV Azurite is in concurrent active discussions with two experienced and well-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, through its wholly-owned subsidiary, Range Sky View Land, LLC (“Range Sky”), 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 and assumed an
obligation to manage an additional 21 mining permits with an estimated reclamation obligation of $13,796,945. As a result, on March
31, 2025, 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 on that same date. 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 1,500 acres at the Fola
Mine.

In June 2025, Range Sky
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