Welcome to our dedicated page for RANGE IMPACT news (Ticker: RNGE), a resource for investors and traders seeking the latest updates and insights on RANGE IMPACT stock.
Range Impact Inc (RNGE) specializes in strategic asset management and corporate restructuring, driving value through targeted transactions. This page serves as the definitive source for all official company announcements and financial developments.
Investors and stakeholders will find timely updates including earnings reports, strategic asset sales, and corporate restructuring initiatives. Our curated collection ensures access to verified press releases and market-moving developments directly from the company.
Key focus areas span portfolio optimization updates, partnership announcements, and operational efficiency milestones. Bookmark this page to monitor RNGE's progress in transforming underutilized assets into value-driven opportunities through disciplined financial strategies.
Range Impact (OTCQB: RNGE) has announced the acquisition of the Fola Mine Complex in central West Virginia, marking its largest acquisition to date. The deal includes approximately 120,000 acres of real property interests, comprising 13,000 acres of surface land and 107,000 acres of mineral interest.
The acquisition includes 15 mining permits with a $29.3 million reclamation obligation and management responsibility for 21 additional permits. The company secured two coal royalty contracts with active mining companies and acquired rights to a 25-year solar lease for a 200+ MWh solar project spanning over 1,000 acres.
This acquisition represents Range Impact's strategic shift from a service-based to a land ownership business model. The company now controls two major former coal mine sites in Appalachia - the Fola Mine Complex and 2,000 acres at the Hobet Mine Complex - positioning itself for environmental rehabilitation and business development initiatives in the region.
Range Impact, Inc. (OTCQB: RNGE) has announced its uplisting from the OTC Pink Sheets to the OTCQB Venture Market. The company's common stock began trading on the OTCQB under the ticker symbol 'RNGE' on October 7, 2024. CEO Michael Cavanaugh stated that this uplisting is a significant milestone for the company and its shareholders after trading on the OTC Pink Sheets for six years.
The move to the OTCQB is expected to enhance visibility and transparency within the investment community, improve access to institutional capital, and create more efficient trading opportunities for investors. The OTCQB is operated by OTC Markets Group Inc. and is recognized by the SEC as an 'established public market' for determining public market prices when registering securities for resale.
Range Impact (OTC: RNGE) has announced the sale of its cannabinoid drug development business, Graphium Biosciences, to Placer Biosciences. This strategic move allows Range Impact to focus on its environmental services business in Appalachia. The sale includes all of Graphium's assets, with Range Impact receiving warrants for 25% of Placer's common stock, a small cash amount, and 50% of proceeds from non-core equipment sales over the next year.
Graphium was developing early-stage cannabinoid-based therapeutics for gastrointestinal diseases without psychoactive side effects. The decision to divest came after a review of corporate strategies and market conditions. Range Impact's CEO, Michael Cavanaugh, expressed excitement about partnering with Placer Biosciences' leadership and their commitment to advancing the drug platform.
Range Impact, Inc. (OTC: RNGE) has announced its application to uplist from the OTC Pink Sheets to the OTCQB Venture Market. The OTCQB, operated by OTC Markets Group Inc., is designed for developing companies and is recognized by the SEC as an established public market for determining public market prices in securities resale registration.
CEO Michael Cavanaugh stated that uplisting to OTCQB could broaden the company's shareholder base and enhance visibility and transparency within the investment community. He also believes it could improve access to capital and create more efficient trading opportunities. If approved, Range Impact's common stock is expected to continue trading under the ticker symbol RNGE on the OTCQB.
Range Impact (OTC: RNGE) has announced the sale of non-core assets as part of its strategic plan to focus on reclaiming and repurposing Company-owned mine land in Appalachia. On August 22, 2024, the Company's subsidiary, Collins Building & Contracting, sold a mechanics shop, stone quarry, and related assets to entities controlled by Roger L. Collins, Jr. In exchange, $2,940,836 of debt was cancelled and discharged.
This decision comes after a review of the Company's abandoned mine land (AML) reclamation business in West Virginia, which was deemed administratively and operationally challenging. CEO Michael Cavanaugh stated that exiting this line of business allows Range Impact to concentrate on reclaiming and repurposing its own mine land, which is believed to offer greater long-term value creation opportunities for shareholders.
Range Impact (OTC: RNGE) reported its Q2 2024 financial results, showing a decline in revenue and negative Adjusted EBITDA. Key highlights include:
- Consolidated revenue of $2,349,738 in Q2 2024, down from $3,998,267 in Q2 2023
- Consolidated Adjusted EBITDA of ($312,994) in Q2 2024, compared to $479,405 in Q2 2023
- Net loss of $1,225,681 in Q2 2024, versus a net income of $36,762 in Q2 2023
The decline was primarily attributed to a mining contractor's performance failure and misalignment between revenues and costs in the Range Reclaim segment. Management plans to review business segments and take steps to reposition the company for future growth and profitability.
Range Impact (OTC: RNGE) reported first-quarter results for 2024, showing a consolidated revenue increase to $3,909,893, up $895,006 from 1Q 2023. However, the company's consolidated Adjusted EBITDA decreased to $67,034, down from $170,961 in 1Q 2023.
The Range Reclaim segment saw a revenue decline by $1,482,504 to $1,505,983, while Range Minerals, a newly separate segment, reported $1,982,115 in revenue. Range Security also showed strong growth, with revenue up to $421,795 from $26,400 in 1Q 2023.
Operating expenses increased to $1,075,541, contributing to a net loss of $751,149, compared to a net loss of $226,860 in 1Q 2023. Cash flow from operations turned negative at $(1,113,045). The company emphasizes its commitment to reclaiming and repurposing mine sites for sustainable economic activity in Appalachia.
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