American Metals Recovery and Recycling Inc. (OTCPK:AMRR) acquired AMR Resources, LLC for $38 million on February 1, 2022. The acquisition is subject to post-closing adjustment as contemplated by the Agreement. American Metals Recovery and Recycling Inc. funded the purchase price from the American Metals Recovery and Recycling Inc.'s readily available funds. AMR Resources, LLC is a wholly owned subsidiary of American Metals Recovery and Recycling Inc.

American Metals Recovery and Recycling Inc. (OTCPK:AMRR) completed the acquisition of AMR Resources, LLC for $40.5 million on February 1, 2022. On January 21, 2022, American Metals Recovery and Recycling Inc received $44 million of loan proceeds from issuance of the Note. The Company used $40.5 million of the proceeds to acquire AMR Resources on February 1, 2022. The remaining proceeds of the Note will be used to fund the operating activities of the Company and AMR Resources.