Comstock Mining Inc

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Comstock Mining Inc


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CEO Blog - February 27, 2019
Wednesday, February 27 2019 01:00
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Q: What is the S-3 that the Company just filed?

A: The Company recently filed a short form registration statement on Form S-3 (“S-3”) with the Securities and Exchange Commission (SEC). The Company has always maintained an effective S-3 registration (also known as a “Shelf Registration” or a “Shelf”) that enables efficient access to the capital markets, only when needed. This is our customary shelf registration statement covering up to $50 million of broad categories of securities, both debt and equity, with no current plans or transactions. The Company and its Board believes that it is prudent for any public company to have the capability to access the capital markets, efficiently and timely, for any and all needs, planned or unforeseen, that may arise and be prepared for opportunities that may also become available. The Board believes that this is especially true for our Company, as it implements its strategy focused on high-value, high
cash-generating, precious metal-based activities and opportunities.

We recently announced transactions that should eliminate our debt and provide funding that either minimizes or ultimately eliminates any immediate need for routinely raising public equity. Once the previously announced transactions have closed, estimated between the end of March 2019 and September 2019, the need for these facilities will be negligible.   We have worked very hard to minimize the use of public equity for ongoing operations, while retaining the ability to capitalize on revenue generating transactions, clean technologies and other precious-metal related opportunities. We will always maintain the ability to ensure our liquidity, regardless, as none of these circumstances are static or guaranteed, but the recently announced transactions and the positioning in the opportunity zones should provide alternative forms of non-dilutive capital so we can advance these value creating propositions. We are working tirelessly and will continue making progress on repositioning the company and bringing meaningful, sustainable value to shareholders.

Kindest regards, Corrado De Gasperis, Executive Chairman and CEO