If You Invested in Range Impact Inc (RNGE)

Range Impact, Inc. (OTCQB: RNGE) is a public impact investing company focused on acquiring, reclaiming and repurposing distressed coal mine properties and other undervalued land in economically disadvantaged communities throughout Appalachia. Headquartered in Cleveland, Ohio, the company describes its mission as improving the health and wellness of people and the planet through a novel approach to impact investing that combines environmental remediation with long-term land redevelopment.

Range Impact owns and operates several complementary operating businesses that concentrate on developing long-term solutions to environmental, social and health challenges. According to company disclosures, its strategy emphasizes acquiring former coal mine complexes, managing reclamation obligations, and then repositioning these large land assets for next-generation uses. The company’s common stock trades on the OTCQB Venture Market under the ticker symbol RNGE.

Business model and strategic focus

Range Impact states that it takes an opportunistic approach to impact investing by leveraging its experience in land reclamation and water restoration at challenging coal mine sites. Based on its public statements, the company’s business model has evolved from a service-based reclamation business into a land ownership model. Earlier activities centered on generating revenue by providing reclamation, incidental mining and security services to mining companies, permit holders and private owners with abandoned mine land property. Beginning in early 2025, the company reports that it shifted its primary focus to owning mine sites and other land, with the goal of unlocking underlying land value through reclamation and then creating multiple streams of recurring revenue from third-party lessees focused on next-generation uses.

This transition is highlighted by the sale of Collins Building & Contracting, Inc., which Range Impact identifies as the final step in exiting its abandoned mine land reclamation services business for third-party customers. The company explains that this exit is intended to allow management to concentrate capital and human resources on reclaiming and repurposing mine sites that Range Impact owns.

Key land assets in Appalachia

Range Impact’s disclosures describe a growing portfolio of large former coal mine complexes in Appalachia. The company has acquired the Fola Mine Complex in central West Virginia, which it characterizes as one of the largest mining complexes in the region. In connection with this acquisition, the company reports obtaining almost 13,000 acres of surface land and 107,000 acres of mineral interests, for a total of approximately 120,000 acres of real property interests. It also acquired 15 mining permits at the Fola Mine Complex and assumed responsibility for additional permits and associated reclamation obligations.

In addition to Fola, Range Impact has disclosed ownership of land at the Hobet Mine Complex and, more recently, the Premier Elkhorn and Cambrian Coal mine complexes in eastern Kentucky. Through a newly formed subsidiary, Range Bluegrass Land LLC, the company acquired real and personal property associated with the Premier Elkhorn and Cambrian Coal mining operations in exchange for assuming reclamation obligations tied to multiple mining permits and related reclamation bonds. Company statements note that these complexes contain metallurgical and thermal coal reserves and include legacy investments in coal processing infrastructure, rail, roads and utilities.

Management commentary indicates that, with these acquisitions, Range Impact has assembled multiple significant land investments across West Virginia and Kentucky. The company has described its portfolio as representing ownership of tens of thousands of surface acres and a substantial base of mineral interests at former coal mine sites in Appalachia.

Revenue sources and impact investing approach

Range Impact’s public communications describe several revenue-related elements tied to its land ownership strategy. At the Fola Mine Complex, the company reports acquiring coal royalty contracts with well-capitalized and experienced mining companies that are mining at the site. These coal royalty agreements are expected by the company to provide royalty payments that can be used to fund a portion of reclamation and repurposing activities.

The company also notes that it acquired the landlord’s interest in a long-term solar lease at the Fola Mine Complex with a multi-national solar developer for a large-scale solar project. Range Impact states that this lease is anticipated to generate lease revenue over an extended period if the project is constructed as proposed. In addition, the company has entered into consulting agreements with landfill-related entities, under which it provides reclamation, remediation, land use planning and related services in connection with the potential development of a new waste disposal facility on a portion of the Premier Elkhorn Mine Complex. These agreements provide for engagement fee payments over a defined term.

Across its disclosures, Range Impact emphasizes that it seeks to allocate capital into strategic opportunities that are expected to make a positive impact on the people-planet ecosystem while also generating investment returns for shareholders. The company positions its reclamation and repurposing activities as a way to address environmental legacies of coal mining, support potential new economic uses of reclaimed land, and utilize its experience with regulatory and insurance frameworks related to mine reclamation.

Capital markets and corporate developments

Range Impact’s common stock trades on the OTCQB Venture Market, following an uplisting from the OTC Pink Sheets. The company has described this uplisting as an important milestone intended to enhance visibility and transparency within the investment community and improve access to capital. In a separate development, Range Impact completed a capital raise through securities purchase agreements with existing insiders and a major shareholder, issuing common stock in a private placement exempt from registration under U.S. securities laws.

The company has also reported the sale of its cannabinoid drug development business, which was held through its former subsidiary Graphium Biosciences, Inc. According to company statements, Graphium encompassed legacy cannabinoid drug development assets, including intellectual property, permits and lab equipment related to early-stage cannabinoid-based therapeutics. Range Impact’s board determined that separating this drug development business from its environmental services and mine land strategy was in shareholders’ interests, and the sale was structured to retain potential upside through warrants and other consideration.

Operating focus and geographic footprint

Range Impact’s operations, as described in its news releases and SEC filings, are concentrated in Appalachia, with major land assets in West Virginia and Kentucky. The company’s stated focus is on acquiring distressed coal mine properties, managing and fulfilling reclamation obligations, and preparing these sites for long-term uses such as energy projects, mining royalties, or other third-party developments. Its headquarters are in Cleveland, Ohio, and it identifies itself as a public company dedicated to impact investing in environmental, social and health-related opportunities.

Through its subsidiaries, including Range Bluegrass Land LLC and other entities, Range Impact engages in transactions involving mining permits, reclamation bonds, coal leases, and consulting arrangements related to land development. The company emphasizes its experience with land reclamation, water restoration, and navigating governmental regulations and insurance obligations that affect the successful reclamation and repurposing of mine sites.

Position within the manufacturing and land-related ecosystem

While the company’s industry classification references medicinal and botanical manufacturing, Range Impact’s own public statements and recent corporate actions focus on environmental services, land ownership and impact investing related to former coal mine sites. Its activities involve managing large land holdings, reclamation obligations, and agreements tied to coal royalties, solar development and potential landfill operations. The company presents itself as building a portfolio of strategic land assets in Appalachia with the aim of addressing environmental challenges and enabling new economic uses.