MALACHITE INNOVATIONS ANNOUNCES CLOSING OF $1.0 MILLION CAPITAL RAISE TO FUND FIRST ACQUISITION OF FORMER MINE LAND
Malachite also announces the closing of a $1.0 million capital raise and the purchase of approximately 1,600 acres of former mine land in Lincoln County, West Virginia (“Former Mine Land”).
- Malachite also announces the closing of a $1.0 million capital raise and the purchase of approximately 1,600 acres of former mine land in Lincoln County, West Virginia (“Former Mine Land”).
- Catalyst Land is a newly-formed, wholly-owned subsidiary focused on acquiring, rehabilitating and repurposing undervalued and underutilized real estate throughout the Appalachian Region.
- Consistent with Malachite’s mission driven approach to improving the health and wellness of people and the planet, Catalyst Land is targeting challenging land opportunities in the most disadvantaged areas of Appalachia.
- On August 24, 2023, Malachite raised $1.0 million from Indemnity National Insurance Company (“Indemnity National”) with the proceeds used to fund the purchase of the Former Mine Land.