American Resources Corporation to Ring Nasdaq Closing Bell on December 29, 2020
American Resources Corporation (AREC) announces it will ring the Nasdaq closing bell on December 29, 2020, to celebrate the start of operations at its Perry County Resources (PCR) complex and the launch of its subsidiary, American Rare Earth LLC. This operational restart follows a year of restructuring and is expected to drive revenue growth starting in 2021, addressing the rising demand for raw materials in infrastructure projects. The company emphasizes its commitment to modernizing legacy mining operations to align with current market needs.
- Commencement of operations at Perry County Resources expected to generate significant revenue growth in 2021.
- Launch of American Rare Earth LLC to meet demand for rare earth and critical minerals in the electrification market.
- Creation of over 170 stable jobs for the community, contributing to local economic growth.
- None.
FISHERS, IN / ACCESSWIRE / December 28, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure marketplace, today announced that it will ring the Nasdaq closing bell on December 29, 2020, in celebration of the commencement of operations at its premier mining site, Perry County Resources (PCR) complex and the launch of the Company's critical and rare earth mineral subsidiary, American Rare Earth LLC earlier this year. The restart at PCR comes after a year of implementing a methodical restructuring and in response to increased demand for raw materials for steel and infrastructure projects and is expected to provide significant revenue growth beginning in 2021. American Rare Earth highlights the Company's ability to restructure legacy mining operations to better fit the modern-day and emerging economy. American Rare Earth is focused on the collection and processing of rare earth and critical minerals, using the Company's large and already owned asset base, to serve the rapidly growing electrification market and to help reestablish this important supply chain back to North America.
Mark Jensen, CEO of American Resources Corporation, will be joined by his colleagues, members of the board of directors and several stakeholders for the virtual ceremony, which will begin at approximately 3:20 PM EST. The ceremony can be viewed on the Nasdaq MarketSite Tower in Times Square, at 43rd Street and Broadway, New York, NY, and will be video streamed live at: https://www.nasdaq.com/marketsite/bell-ringing-ceremony
The bell ringing will take place at 4:00 PM EST, signifying the close of the day's trading session. A replay of the ceremony will be available at a later date on the Company's website under the Events section of the Investor Relations page.
Mr. Jensen commented, "Our business model involves reinventing a legacy industry for a modern-day economy whereby we can supply raw materials to the infrastructure and electrification marketplace effectively and efficiently. We are honored to ring the Nasdaq Bell and will be celebrating virtually with all of our stakeholders our many accomplishments throughout 2020. With the commencement of operations at Perry County, we now have the ability to generate stable cash flows for our investors, a reliable supply of high-quality carbon for our customers, and over 170 steady and reliable jobs for the community. This truly marks an important day for American Resources as it represents the launchpad that will propel the Company to its next phase of growth and the start of what we believe will be a transformational year ahead."
About American Resources Corporation
American Resources Corporation 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 market 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.
PR Contact:
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
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https://www.accesswire.com/622356/American-Resources-Corporation-to-Ring-Nasdaq-Closing-Bell-on-December-29-2020
FAQ
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