Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 73

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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: (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 wholly-owned
subsidiary of the Company, entered into a Transaction Advisory Agreement (“Advisory Agreement”) with AppleAtcha Land, LLC
(“AppleAtcha”) and WV Reclaim Co, LLC (“Reclaim”) pursuant to which AppleAtcha and Reclaim agreed to pay Range
Sky $750,000 and $25,000, respectively (collectively, the “Advisory Fee”), in consideration of Range Sky’s provision
of transition advisory services in connection with the sale by AppleAtcha and Reclaim of (i) approximately 424.80 acres of surface interests
and 3,773.60 acres of mineral interests and