New Philanthropic Organization Launches to Support Coal Communities

Rhea-AI Summary

Ramaco Resources, Inc. (NASDAQ: METC) has announced the establishment of the Ramaco Foundation to support coal-producing communities in West Virginia, Virginia, and Wyoming. The Foundation will provide grants, starting with $100,000 for initiatives against childhood hunger in Wyoming and for education in West Virginia. Key donations include $50,000 each to The Food Group Wyoming and Jobs for West Virginia's Graduates. The Foundation aims to strengthen local economies through meaningful partnerships with nonprofit organizations that have proven success records.

Positive

• Formation of the Ramaco Foundation to support local communities.
• Initial grants totaling $100,000 focus on childhood hunger and education.
• Partnerships established with proven nonprofit organizations.

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• None.

The Ramaco Foundation will partner with and provide grants to charitable organizations in West Virginia, Virginia, and Wyoming

LEXINGTON, Ky., Dec. 20, 2022 /PRNewswire/ --America's coal-producing communities are fundamental to the growth and success of the country, but are too often overlooked for the support they need. For this reason, Ramaco Resources, Inc. (Ramaco) (NASDAQ: METC) today announced the formation of the Ramaco Foundation, a philanthropic organization that will invest in the regions where its employees work in West Virginia, Virginia and Wyoming through grant-making and partnerships with local nonprofit organizations.

As part of its launch, the Foundation has awarded grants worth $100,000 to organizations fighting childhood hunger in Wyoming, and supporting education and workforce development in West Virginia.

"The regions where our staff and their families live are the backbone of this country, and deserve far, far more investment and attention than they receive," said Randall Atkins, chairman and CEO of Ramaco, who also serves as the chairman of the Foundation's board of directors. "We are proud to be a member of these communities, and for this opportunity to give back and support their success."

The Foundation's activities will be focused on southern West Virginia, southwestern Virginia, and Sheridan County, Wyoming, where the company has operations. Its first major donations are a $50,000 grant to The Food Group Wyoming, which fights childhood hunger in Sheridan County, and a $50,000 grant to Jobs for West Virginia's Graduates, which provides professional development and educational support to high school students.

Both organizations will receive $25,000 in 2022 and another $25,000 in 2023. The grants will benefit the organizations' operating funds, program development and other identified needs.

"The Ramaco Foundation is dedicated to building meaningful philanthropic relationships in these regions, and strengthening the local social and economic fabric," said Evan Jenkins, president of The Ramaco Foundation and a member of its board of directors. Jenkins was formerly both the U.S. Congressman from Southern West Virginia and the Chief Justice of the West Virginia Supreme Court. "The organizations receiving these grants are results-driven and have proven records of success, and we look forward to partnering with them and expanding their very valuable work."

In addition to Atkins and Jenkins, the Foundation's board of directors includes two other members: Patrick Graney III, the founder and president of PCG Inc. of Charleston, West Virginia and a long time civic leader in the state, and Debra Wendtland, a prominent Sheridan, Wyoming based attorney and one of the nation's leading adoption specialists.

The Foundation is organized as a public benefit corporation under the Wyoming Nonprofit Corporation Act and is classified as a 501(c)(3) organization under the Internal Revenue Code.

About Ramaco Resources, Inc.
Ramaco Resources, Inc. is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia, and Sheridan, Wyoming. The company currently has three active mining complexes in Central Appalachia and one mine not yet in production near Sheridan. Contiguous to the Wyoming mine, it operates a research and pilot facility focused on the production of advanced carbon products and materials from coal. In connection with these activities, it holds a body of roughly 50 intellectual property patents, pending applications, exclusive licensing agreements and various trademarks. For more information, please visit www.ramacoresources.com.

Media contact:
contact@ramacofoundation.com

View original content:https://www.prnewswire.com/news-releases/new-philanthropic-organization-launches-to-support-coal-communities-301706732.html

SOURCE Ramaco Resources, Inc.

FAQ

What is the Ramaco Foundation and its purpose?

The Ramaco Foundation is a philanthropic organization established by Ramaco Resources, Inc. to support coal-producing communities in West Virginia, Virginia, and Wyoming through grants and partnerships with local nonprofits.

How much funding has the Ramaco Foundation allocated to local organizations?

The Ramaco Foundation has initially awarded $100,000 in grants to organizations addressing childhood hunger in Wyoming and supporting education in West Virginia.

Which organizations received grants from the Ramaco Foundation?

The Food Group Wyoming and Jobs for West Virginia's Graduates each received $50,000 grants from the Ramaco Foundation.

What areas does the Ramaco Foundation focus on?

The Ramaco Foundation focuses on southern West Virginia, southwestern Virginia, and Sheridan County, Wyoming.

When was the Ramaco Foundation launched?

The Ramaco Foundation was launched on December 20, 2022.