Range Impact's Bold Move: Transforming West Virginia's Coal Legacy

In the heart of Appalachia, a significant shift is underway as Range Impact, Inc. (OTCQB: RNGE) announces its largest acquisition to date: the Fola Mine Complex in central West Virginia. This strategic move marks a pivotal transition for the company, shifting from a service-based model to a land ownership business model, with far-reaching implications for both the environment and the local economy.

The Fola Mine Complex, once a powerhouse of coal production, employed approximately 500 workers at its peak in the 1990s and 2000s. However, a consolidation of operations in 2011 led to its shutdown, resulting in the loss of almost all jobs and leaving the site largely inactive for over a decade. Range Impact's acquisition of this vast property, comprising almost 13,000 acres of surface land and 107,000 acres of mineral interest, represents a critical transition point for the region.



The acquisition includes 15 mining permits with a $29.3 million reclamation obligation and management responsibility for 21 additional permits. This significant environmental commitment is backed by Range Impact's deep experience in land reclamation and water restoration, positioning the company to responsibly rehabilitate the entire property. The goal is to support long-term next-generation uses, transforming the former coal mine into a sustainable and productive asset.

One of the most exciting aspects of this acquisition is the inclusion of a 25-year solar lease for a 200+ MWh solar project spanning over 1,000 acres. This project, estimated to create more than 200 MWh of solar energy capacity, is one of the largest solar initiatives in Appalachia. The solar lease, along with two coal royalty contracts with well-capitalized mining companies, is anticipated to provide the necessary funding to reclaim the site, release the associated bonds and permits, and unlock its underlying land value.

The environmental and economic impacts of this initiative are profound. The reclamation efforts will restore the natural environment, making the land suitable for future use and improving the quality of life for local residents. The solar project alone is expected to create a significant number of jobs, contributing to the economic development of the region. Additionally, the company's transition to a land ownership business model, which involves creating multiple streams of recurring revenue with a diverse group of third-party lessees focused on next-generation uses, will further stimulate economic activity.

The acquisition of the Fola Mine Complex is just the beginning for Range Impact. The company now owns two significant land investments in Appalachia, with plans to continue building its portfolio of large owned land assets. This strategic shift from a service-based to a land ownership business model is a bold move that aligns with the company's impact investing strategy, deepening its commitment to the rehabilitation and revitalization of Appalachian coal mining sites and their surrounding communities.

In conclusion, Range Impact's acquisition of the Fola Mine Complex is a game-changer for the region. It represents a significant milestone in the company's journey, positioning it to unlock the underlying value of the land through reclamation activities and create multiple streams of recurring revenue. This initiative not only contributes to environmental stewardship but also fosters economic opportunities and community engagement, paving the way for a sustainable and prosperous future in Appalachia.