Adamant DRI Processing and Minerals Group entered into an agreement to acquire Parks Amusements, LLC from a director of the Adamant DRI Processing and Minerals Group and his wife for $26.25 million.

Adamant DRI Processing and Minerals Group (OTCPK:ADMG) entered into an agreement to acquire Parks Amusements, LLC from a director of the Adamant DRI Processing and Minerals Group and his wife for $26.25 million on July 1, 2023. The agreement calls for the issuance of a total of 70,000,000 shares of Adamant DRI Processing to the members of Parks Amusements LLC. The deal marks a change in its business model with the anticipation of changing the name of the corporation to more fully recognize its new core business going forward.

The company will be led by its President and Chief Executive Officer, Nicholas A. Parks. This acquisition has not yet been closed pending the transfer of the membership units from the members of Parks Amusements LLC. On September 1, 2023, the Company and Parks Amusements LLC amended the agreement to extend the closing date for the transaction.