4//SEC Filing
Granite Peak Resources, LLC 4
Accession 0001213900-23-064418
CIK 0000773717other
Filed
Aug 7, 8:00 PM ET
Accepted
Aug 8, 1:31 PM ET
Size
8.5 KB
Accession
0001213900-23-064418
Insider Transaction Report
Form 4
Granite Peak Resources, LLC
10% Owner
Transactions
- Conversion
Common Stock
2023-08-07$1.05/sh+5,000,000$5,250,000→ 6,405,102 total - Exercise of In-Money
Convertible Line of Credit
2023-08-07$1.05/sh−5,000,000$5,250,000→ 4,989,659 totalExercise: $1.05→ Common Stock (5,000,000 underlying)
Footnotes (4)
- [F1]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).
- [F2]The LOC was originally issued on March 16, 2020, the outstanding balance is convertible at any time after its issuance.
- [F3]There is no expiration date per se but the balance of the LOC is due on March 16, 2027.
- [F4]This number is approximate. The amount of shares available for conversion is dependent on the balance of the LOC, After this conversion the balance of the LOC would convert into approximately 4,989,659 shares of common stock, this number will change upon the accrual of interest and increases in the balance of the LOC.
Documents
Issuer
American Clean Resources Group, Inc.
CIK 0000773717
Entity typeother
IncorporatedWY
Related Parties
1- filerCIK 0001770890
Filing Metadata
- Form type
- 4
- Filed
- Aug 7, 8:00 PM ET
- Accepted
- Aug 8, 1:31 PM ET
- Size
- 8.5 KB