UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On November 24, 2021, Standard Metals Processing, Inc. (the “Company”) executed a letter of intent to acquire a controlling interest in Sustainable Metal Solutions, LLC (“SMS”). Definitive terms of the acquisition are still in negotiations and are subject to due diligence. SMS is an American multi-company environmental development platform focused on producing carbon neutral precious metals and minerals thereby driving American mineral independence while revitalizing the environment and minimizing the impacts of climate change. The Company and SMS previously agreed to form a joint venture into which the Company was to contribute the solar energy rights attributable to its 1,086 acres in exchange for SMS’s agreement to develop, manage and underwrite the venture.
Item 8.01 Other Events
The Company was notified that its majority shareholder, Granite Peak Resources, LLC executed definitive documents on November 29, 2021 with Stephen Flechner to acquire his judgment against the Company.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: November 30, 2021 | Standard Metals Processing, Inc. | |
| By: | /s/ Sharon Ullman | |
Sharon Ullman Chief Financial Officer | ||
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