COMSTOCK MINING INC. (NYSEAMERICAN: LODE) Files An 8-K Other Events

COMSTOCK MINING INC. (NYSEAMERICAN: LODE) Files An 8-K Other Events
Item 8.01. Other Events

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Virginia City, NV (November 27, 2018) Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced progress on its non-mining asset sales. The sale of the Gold Hill Hotel, to a local, experienced hotelier remains on schedule for closing in December. The buyer completed the final walk through inspection of the property last week with no material issues noted. In addition, the Company has entered into discussion and negotiation with local investors for the sale of its non-mining assets located in Silver Springs, Nevada.

Corrado De Gasperis, Executive Chairman and CEO commented, “The sale process for the Gold Hill Hotel has progressed without incident and we have and continue to be impressed by the professionalism, care and community involvement of the new owners and we warmly welcome them to the Comstock. We are also thrilled by the interest of Nevada-based investors who are focused on opportunity zone investments in Storey and Lyon counties.”

On November 23, the Company was notified by the agent of the buyer of the Daney Ranch, that the proposed buyer was opting to terminate its offer of $3.25 million, previously announced to close later this month. The Company will relist the property for $4 million this week.

Mr. De Gasperis concluded, “Our non-mining land sales are progressing toward the goal of eliminating our debt, and we expect this to be completed in the first half of next year, and possibly sooner. We anticipate the principal amount of the company’s secured debenture at year end will be approximately $7.8 million , with $14 million of remaining non-mining asset sales to be completed in 2019.”

Exhibit Number

Exhibit

99.1

Comstock Mining Inc. Press Release 99.1


Comstock Mining Inc. Exhibit
EX-99.1 2 lodepressrelease11-27×18.htm EXHIBIT 99.1 Exhibit Comstock Mining Announces Update on Non-Mining Asset SalesVirginia City,…
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