American Metals Recovery and Recycling Inc. acquired AMR Resources, LLC for $40.5 million.
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.