Standard Metals Processing, Inc. (OTCPK:SMPR) executed a letter of intent to acquire an unknown controlling stake in Sustainable Metal Solutions, LLC on November 24, 2021. Standard Metals Processing, Inc. (OTCPK:SMPR) executed a definitive agreement to acquire an unknown controlling interest in Sustainable Metal Solutions, LLC on January 10, 2022. The purchase price for the controlling interest of Sustainable Metal Solutions will be determined based on the price of SMPR common stock on the date of closing.

The transaction is subject to due diligence.