Sec Form 4 Filing - Granite Peak Resources, LLC @ American Clean Resources Group, Inc. - 2023-08-07

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Granite Peak Resources, LLC
2. Issuer Name and Ticker or Trading Symbol
American Clean Resources Group, Inc. [ ACRG]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
1603 CAPITAL STREET, SUITE 301 A541
3. Date of Earliest Transaction (MM/DD/YY)
08/07/2023
(Street)
CHEYENNE, WY82001
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/07/2023 C 5,000,000 A $ 1.05 6,405,102 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Convertible Line of Credit ( 1 ) $ 1.05 08/07/2023 X 5,000,000 ( 2 ) ( 3 ) Common Stock 5,000,000 $ 1.05 4,989,659 ( 4 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Granite Peak Resources, LLC
1603 CAPITAL STREET
SUITE 301 A541
CHEYENNE, WY82001
X
Signatures
/s/ Tawana Bain, Manager of TBAIN Group, LLC Manager of Granite Peak Resources, LLC 08/07/2023
Signature of Reporting Person Date
Explanation of Responses:
( 1 )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).
( 2 )The LOC was originally issued on March 16, 2020, the outstanding balance is convertible at any time after its issuance.
( 3 )There is no expiration date per se but the balance of the LOC is due on March 16, 2027.
( 4 )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.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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