ADES closes Marshall Mine sale; pays $2.2M, gains $2.7M, removes $4.9M liability

Arq, Inc.

Company paid $2.2M to Caddo Creek Resources in exchange for assumption of $4.9M asset retirement obligation.
Recognized a gain of approximately $2.7M from the transaction.
Transaction closed on March 27, 2023, after Railroad Commission of Texas approval and bond replacement.
CEO states sale fortifies balance sheet and supports growth plans for 2023.

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