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| 8-K - CURRENT REPORT - American Resources Corp | arec_8k.htm |
Exhibit
99.1
American Resources Corporation Acquires Additional Equipment to
Expand Production
Strength of balance sheet has enabled the Company to be
opportunistic in expanding its base of production
equipment
Market fundamentals is giving Company comfort in considering
expanding accretive production
February 1, 2021 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / February 1, 2021
/ 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 has
acquired additional production equipment to expand its base of
carbon production and efficiencies at Perry County Resources as
well as prepare for the potential opportunity to bring other
complexes online in the future.
The worldwide market for metallurgical carbon is showing strength
in terms of long-term fundamental demand as COVID-19 vaccines have
begun to be administered. With this, the Company have seen
economies begin to prepare and activate economic stimulus to pull
their economies forward to a more modern-day economy, which
requires a significant infrastructure spend. The Company had the
opportunity to acquire this expansive fleet of equipment at a very
attractive price, and what it believes to be a fraction of its
marketable value given its ability to act quickly due to the
strength of its balance sheet.
Thomas Sauve, President of American Resources said, “We have
some of the highest quality, lowest cost and longest life assets in
the country for producing metallurgical carbon. Our efforts to
acquire, restructure and reposition our assets enables us to move
swiftly to bring operations online when the market dictates. Given
our cost structure and financial flexibility, we are excited to
closely monitor the markets and utilize our advantages to expand
our production base in the near future. This spread of equipment we
have acquired, and the price we paid, showcases our extremely low
capex model of accretive expansion of production. We look forward
to the years ahead of us and putting this equipment to
work.”
American Resources Corporation, with its three divisions, American
Carbon, American Rare Earth and American Metals is built to
leverage the growth of infrastructure and electrification markets
that are predicted to see significant expansion over the next
decade. The current administration in United States has stated its
intention to advance a green economy, which will require
substantial infrastructure redevelopment and a significant spend on
U.S. produced steel as well as growth in the electric vehicle
fleet.
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 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.
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