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American Clean Resources Group, Inc. (OTC:ACRG) announced Monday that it has entered into an agreement with Launch It LLC to fully rescind a prior transaction involving SWIS LLC. According to a company statement based on a Securities and Exchange Commission filing, both parties determined that the SWIS technology and related business direction did not align with American Clean Resources Group’s operational objectives.
Under the terms of the rescission agreement, Launch It LLC will return 1,470,000 shares of American Clean Resources Group’s common stock. The company stated that it will retire these shares, resulting in a permanent reduction of its issued and outstanding common stock.
In exchange, American Clean Resources Group will transfer to Launch It LLC 100% of the equity interests in SWIS LLC. The agreement also includes a mutual release of all claims, obligations, and liabilities stemming from the prior agreements, except for those specifically preserved in the rescission agreement.
No additional consideration is required from either party beyond what is detailed in the rescission agreement. The rescission returns both companies to their positions before the original transaction and resolves all rights and obligations related to the earlier arrangement.
The agreement was executed on November 21, 2025. This information is based on a press release statement and the company’s filing with the SEC.
In other recent news, American Clean Resources Group announced that J. Bryan Read has resigned from his position as president of the company, effective immediately as of September 25. The resignation was confirmed through a press release statement filed with the Securities and Exchange Commission. The company clarified that Mr. Read’s departure was not due to any disagreement over operations, policies, or practices. The CEO will assume the duties of the president following Mr. Read’s resignation. The company expressed gratitude for Mr. Read’s years of service and contributions. These developments are part of the latest updates from American Clean Resources Group.
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