ACRG increases secured amount to $100M via deed of trust amendment

American Clean Resources Group, Inc.

Filed amendment to Deed of Trust increasing secured amount to $100M, covering existing $35M LOC and future advances.
Granite Peak Resources, majority shareholder and largest debtholder, is the secured party.
Deed of Trust recorded on February 21, 2023, securing all assets including subsidiary stock.
Amendment follows January 5, 2023 Forbearance Agreement that increased LOC to $35M.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

American Clean Resources Group, Inc. amended Amendment and Forbearance Agreement with Granite Peak Resources (GPR) valued at $35,000,000 (effective 2023-01-05).

Action: amendment
Agreement: credit facility
Counterparty: Granite Peak Resources (GPR)
Value: $35,000,000
Effective: 2023-01-05

Exact text from the filing

As previously disclosed in the Form 8-K file with the Commission on January 6, 2023, 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 increase its existing Line of Credit (“LOC”) to $35,000,000.

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American Clean Resources Group, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-013643

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