---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-001407"
form_type: "8-K"
ticker: "ACRG"
cik: "0000773717"
company_name: "American Clean Resources Group, Inc."
filed_at: "2023-01-06T23:59:59+00:00"
generated_at: "2026-06-20T19:08:49.342057+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# American Clean Resources expands LOC to $35M, extends maturity, avoids foreclosure through Jan 2024

## Summary
- Line of credit increased from $5M to $35M, maturity extended from March 2025 to March 2027.
- Two existing promissory notes rolled into LOC and extinguished as separate instruments.
- GPR agrees to forbear on foreclosure rights under defaulted Senior Secured Note until Jan 12, 2024.
- Conversion price of LOC into common stock reduced from $1.65 to $1.05 per share based on 3-day VWAP.
- GPR, majority shareholder, held $10,036,451 in debt as of Dec 31, 2022 (approximate).

## SEC filing metadata
- accession: 0001213900-23-001407
- form_type: 8-K
- ticker: ACRG
- cik: 0000773717
- company_name: American Clean Resources Group, Inc.
- filed_at: 2023-01-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/773717/000121390023001407/0001213900-23-001407-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/773717/000121390023001407/ea171359-8k_americaclean.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-001407
- JSON: https://secwatch.observer/filing/0001213900-23-001407.json
- Plain text: https://secwatch.observer/filing/0001213900-23-001407.txt

## Key facts
- Material Agreements
  American Clean Resources Group, Inc. amended Amendment and Forbearance Agreement with Granite Peak Resources valued at $5,000,000 to $35,000,000 (effective 2023-01-05).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Granite Peak Resources
  - Value: $5,000,000 to $35,000,000
  - Effective: 2023-01-05
  source text: American Clean Resources Group, Inc. (the “Company”) entered into an Amendment and Forbearance Agreement with Granite Peak Resources (“GPR”), a related party, on January 5, 2023 wherein GPR agreed to: (a) increase its existing Line of Credit (“LOC”) from $5,000,000 due March 16, 2025 to $35,000,000 due March 16, 2027
  evidence_url: https://www.sec.gov/Archives/edgar/data/773717/000121390023001407/0001213900-23-001407-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.