American Resources Corporation Adjusts the Record Date for Special Dividend of its Holdings in American Carbon Corporation
American Resources (NASDAQ:AREC) announced the adjustment of the record date for its special dividend of Novusterra Inc. to May 27, 2024, and the distribution date to June 11, 2024. This change is due to regulatory and statutory requirements with the NASDAQ Capital Markets and the transition to a new public accounting firm. American Resources focuses on supplying rare earth elements, carbon, and advanced materials for infrastructure and electrification markets. The company operates primarily in the Central Appalachian region, offering metallurgical carbon and rare earth minerals. CEO Mark Jensen mentioned efforts to finalize dates for a similar distribution for ReElement Technologies
- Adjusted record date for special dividend: May 27, 2024.
- Adjusted distribution date for special dividend: June 11, 2024.
- Focused on rare earth elements and advanced materials for new infrastructure and electrification markets.
- Operational presence in Central Appalachian region with high-quality metallurgical carbon and rare earth minerals.
- Nimble and low-cost business model aimed at growth and efficiency.
- Changes in record and distribution dates due to regulatory requirements.
- Transition to a new public accounting firm necessitated adjustments.
FISHERS, IN / ACCESSWIRE / May 13, 2024 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, announced today that, due to regulatory and statutory requirements with the NASDAQ Capital Markets, the Record Date for the previously announced special dividend of Novusterra Inc. has been adjusted to now occur on May 27, 2024. Similarly, the distribution date for the special dividend is adjusted to now occur on June 11, 2024.
Mark Jensen, CEO and Chairman of American Resources Corporation commented, "We are moving expeditiously to complete the distribution of American Carbon Corporation. As a result of the change in our registered public accounting firm, it is prudent to adjust the record date and distribution date. The team is also working aggressively to select a record date and distribution date for our ReElement Technologies Corporation division, which we hope to provide such dates in the coming days or weeks."
Please refer to American Resources Corporation press release dated April 4, 2024 for additional information on the special dividend. The planned special dividend shall be subject to compliance with applicable rules and regulations.
About American Resources Corporation
American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com
RedChip Companies Inc.
Robert Foley
1-800-RED-CHIP (733-2447)
Info@redchip.com
Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
View the original press release on accesswire.com
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