American Resources Corporation's Board of Directors Approves ReElement Technologies Corporation's Proposed Term Sheet From Investment Fund
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Term sheet represents a
Certain members of management agree to coinvest in the round with a commitment of greater than
FISHERS, IN / ACCESSWIRE / March 7, 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 the Company's Board of Directors has accepted the unsolicited term sheet received by an investment fund earlier this week. The terms of the proposed investment comes from an investment fund and includes the offer for leading an investment into the Company's wholly owned subsidiary, ReElement Technologies Corporation, for a total investment round of up to
Mark Jensen, CEO of American Resources Corporation said, "We appreciate the passion and energy that our investors have for our subsidiaries, including ReElement Technologies Corporation. The term sheet that we have received from this investment fund has been accepted by our board of directors. The terms and proposed capital will provide additional fuel for ReElement to significantly expedite its domestic and international growth and enables us to unlock value for our shareholders. Furthermore, members of management, including myself, are excited to participate in the round to help capitalize the division and execute upon our strategy. Over the last few months, we have been approached by numerous parties looking to partner with ReElement in the rare earth and critical battery materials sector to assist in the refining of their virgin ores or recycled feedstocks and are excited to announce these partners ranging from mining companies to large domestic auto manufacturers in the near term."
The term sheet was provided by an investor that proposed an investment of common stock of ReElement Technologies Corporation and has been provided in an 8k on March 5th, 2024 which is linked here.
Learn more about ReElement Technologies' process and technology here - Video.
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.
About ReElement Technologies Corporation
ReElement Technologies Corporation is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.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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