Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 67

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 67
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 are subject to
mining permits and associated reclamation bonds which prevents the land from being repurposed for non-mining uses until the land has
been reclaimed and the permits and bonds have been released by the applicable state’s environmental protection department.
Water quality is a particularly challenging issue since a permit can only be released if the site has at least 12 consecutive months
of compliant water samples without active chemical treatment, which heightens the need for water restoration solutions to help
transition former mine land to economically viable non-mining uses.

The
Company, through its several operating businesses, has assembled the internal resources and capabilities to reclaim land, restore
waterways, install innovative water treatment solutions, and secure the mine site to protect the significant historical investment
in infrastructure. In addition to these in-house capabilities, the Company and its operating businesses also possess deep knowledge
and expertise in the permit and bond release process, which is a critical step necessary to unlock the underlying value of the
former mine land for non-fossil fuel uses. Range Land is actively reviewing several mine sites throughout Appalachia to acquire,
reclaim and repurpose in order to improve the land and create non-fossil fuel economic development opportunities for disadvantaged
local coal communities.

8

In
September 2023, Range Land, through its wholly-owned subsidiary CLV Azurite Land, LLC, an Ohio limited liability company (“CLV
Azurite”), acquired over 1,900 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 to ensure that the acquired surface acreage
can be repurposed for alternative non-fossil fuel uses. Concurrently, CLV Azurite is in active discussions with two experienced and
well-capitalized solar energy 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. Under
the solar arrangements, CLV Azurite would be the landlord and the solar developer-operator would be the tenant required to pay CLV
Azurite a negotiated lease payment on a per acre basis.

Competition

We
are focused on a large and growing marketplace for impact investing initiatives, and therefore, anticipate facing competition
from a variety of operating businesses and investment funds who are developing similar business plans and operating strategies to
satisfy the increasing demands for