
American Clean Resources Group Receives Letter of Intent for Up to $40 Million in Joint Development Capital to Advance Millers Solar Energy Zone Acquisition
GlobeNewsWire
Published: Jul 06, 2026, 05:39 PM
Sentiment Analysis
American Clean Resources Group, Inc. (OTC: ACRG), a domestic critical minerals and precious metals processing company, today announced that it has received a Letter of Intent from Elko Heat Company ("EHC"), acting in its corporate investing capacity, under which EHC has confirmed its commitment to use commercially reasonable good-faith efforts to arrange and provide up to $40 million in joint development capital. The capital is intended to support ACRG's pursuit of a Bureau of Land Management (BLM) Solar Energy Zone competitive lease and associated solar development activities under the active Plan of Development at the Company's Millers Property in Esmeralda County, Nevada (the "SEZ Acquisition"). The commitment is made in connection with the Joint Exploration and Development Agreement dated June 9, 2026 between ACRG and TRG Holdings, LLC covering the Millers Property (the "Millers JEDA"), and, at the parties' election, in connection with a project-level special purpose vehicle formed under Section 7 of that agreement. EHC is a Nevada geothermal utility that has operated in Elko, Nevada since 1982, when it was established through a U.S. Department of Energy grant, and provides continuous geothermal district heating service in the Elko community.
Source: GlobeNewsWire
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