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EX-99.1 - PRESS RELEASE MARCH 30, 2021 - American Resources Corp | arec_ex991.htm |
8-K - CURRENT REPORT - American Resources Corp | arec_8k.htm |
Exhibit 99.2
American Resources Corporation Sub-Licenses Graphene Patents To
Development Partner for Energy Storage Development
Sub-licensee goal to further develop graphene patents for the
commercialization focusing initially on energy storage
applications.
American Carbon Materials, our joint venture partner, will receives
50% of operating income from sale of graphene from development
partnership.
American Resources receives class A common stock and class B common
stock in development partner with plan to distribute series A to
underlying shareholders.
March 31, 2021 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / March 31, 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 and electrification marketplace, today
announced that it has sub-licensed on a non-exclusive basis two of
its exclusive patents for the production of graphene to Novusterra
Inc. (“Novusterra”) for an equity stake in Novusterra
and a portion of future cash flows from the sale of graphene from
that entity.
Novusterra is a privately-held, Florida-based company focused on
acquiring and developing technologies specific to the
electrification market, including rare earth element (REE)
deposits, processing facilities and technologies as well as energy
storage technologies. Novusterra is looking to initially raise a
minimum of $5 million to fund the initial development and
commercialization of the specific non-exclusive sublicenses for the
production of graphene in next-generation battery and energy
storage technology.
Mark Jensen, Chairman and CEO of American Resources Corporation
commented, “As with all of our assets, we are always trying
to find ways to maximize value for our shareholders. Our suite of
patents and technologies are no different. We are excited to work
with third parties to help drive value to our shareholders through
the monetization of our patents. Graphene is an exciting technology
where we can use carbon fines produced from our mining operation in
Central Appalachia as the primary feedstock source, and believe the
technology will bring innovation to the energy storage and
electrification marketplaces. We are excited to work with
Novusterra in this venture that not only can provide American
Resources a customer for its carbon fines and upside to our
shareholders, but also provide new innovative jobs for the local
community.”
Pursuant to the non-exclusive sublicense agreement, American
Resources will receive an equity stake representing approximately a
50% equity in Novusterra in the form of Class A and Class B common
stock. Additionally, American Resources’ subsidiary, Advanced
Carbon Materials, LLC (ACM) will receive 50% of the operating
income from the future sales of graphene by
Novusterra.
American Resources anticipates distributing the Class A Common
Stock it receives in Novusterra in the form of a dividend to
existing shareholders of American Resources Corporation common
stock. The Company anticipates naming a record date within the next
120 days for such distribution concurrent with Novusterra
completing its initial equity raise for the development and
commercialization of the technology.
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