Filing Details
- Accession Number:
- 0001213900-23-068155
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2023-08-16 15:17:20
- Reporting Period:
- 2023-08-15
- Accepted Time:
- 2023-08-16 15:17:20
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 773717 | American Clean Resources Group Inc. | ACRG | Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400) | 840991764 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1770890 | Granite Peak Resources, Llc | 1603 Capital Street Suite 301 A541 Cheyenne WY 82001 | No | No | Yes | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2023-08-15 | 5,244,230 | $1.05 | 11,649,332 | No | 4 | C | Direct | |
| Common Stock | Acquisiton | 2023-08-15 | 82,659 | $5.00 | 11,731,991 | Yes | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | C | Direct | |
| Yes | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Convertible Line of Credit | Disposition | 2023-08-15 | 5,244,230 | $1.05 | 5,244,230 | $1.05 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 0 | No | 4 | X | Direct |
Footnotes
- Granite Peak Resources, LLC ("GPR") received the shares in an exchange for a pro-rata equity interest in GPR. The shares are valued at the time of exchange on 8/15/23 as the fair market value ("FMV") as the closing price on the previous date ($5.00) and such equity interest in Granite Peak Resources LLC is valued as the FMV of the American Clean Resources, Inc. (the "Company") shares
- Granite Peak Resources, LLC ("GPR") is the Issuer's largest shareholder and secured debtholder. The terms of the Line of Credit ("LOC"), as amended, are disclosed in the Issuer's quarter and annual statements filed with the SEC. This conversion is being effected to reduce the amount of the Issuer's debt in preparation for the disclosed merger with the SMS Group (See the Form 8-K filed with the SEC on June 12, 2023.
- The LOC was originally issued on March 16, 2020, the outstanding balance is convertible at any time after its issuance
- There is no expiration date per se but the balance of the LOC is due on March 16, 2027
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