Granite Peak Resources, LLC - Aug 7, 2023 Form 4 Insider Report for American Clean Resources Group, Inc. (ACRG)

Role: 10%+ Owner
Signature: /s/ Tawana Bain, Manager of TBAIN Group, LLC Manager of Granite Peak Resources, LLC
Stock symbol: ACRG
Transactions as of: Aug 7, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/8/2023, 01:31 PM
Next filing: Aug 16, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ACRG	Common Stock	Conversion of derivative security	$5.25M	+5M	+355.85%	$1.05	6.41M	Aug 7, 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ACRG	Convertible Line of Credit	Exercise of in-the-money or at-the-money derivative security	-$5.25M	-5M	-50.05%	$1.05	4.99M	Aug 7, 2023	Common Stock	5M	$1.05	Direct	F1, F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.