American Resources Corp 8-K, filed Mar 31, 2021
American Resources Corp (AREC)
8-K
2021-03-31
For: 2021-03-30
View Original
Added on
April 06, 2026
About this 8-K
American Resources Corp filed this 8-K on March 31, 2021, reporting on events of March 30, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of
Report (Date of Earliest event Reported): March 30,
2021
AMERICAN RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
|
Florida
(State
or other jurisdiction
of
incorporation)
|
000-55456
(Commission
File
Number)
|
46-3914127
(I.R.S.
Employer
Identification
No.)
|
12115
Visionary Way, Suite 174, Fishers Indiana, 46038
(Address
of principal executive offices)
(317)
855-9926
(Registrant’s
telephone number, including area code)
________________________________________________
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (See: General Instruction
A.2. below):
[
]
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[
]
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act
(17CFR240.14a-12)
[
]
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17CFR240.14d-2(b))
[
]
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17CFR240.13e-4(c))
Item 7.01. Regulation FD Disclosure
On
March 30, 2021, American Resources Corporation (or the
“Company”) issued a press release to provide an update
on its Perry County Resources complex and American Carbon
division.
On March 31, 2021, American Resources Corporation (or the
“Company”) issued a press release announcing that the Company has sub-licensed, on a
non-exclusive basis, two of its exclusive patents for the
production of graphene to Novusterra Inc.
The information presented in Item 7.01 of this Current Report on
Form 8-K and Exhibit 99.1 and 99.2 shall not be deemed to
be “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or otherwise subject to the liabilities of that
section, unless the Company specifically states that the
information is to be considered “filed” under the
Exchange Act or specifically incorporates it by reference into a
filing under the Securities Act of 1933, as amended, or the
Exchange Act.
A copy
of the press releases are attached as Exhibit 99.1, 99.2 and 99.3
hereto and is incorporated herein by reference.
Item 9.01.
Financial Statements and
Exhibits.
The
following exhibits are attached hereto and filed
herewith.
|
Exhibit
No.
|
Description
|
|
Press Release
Dated March 30, 2021
|
|
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Press Release Dated
March 31, 2021
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
|
American Resources
Corporation
|
|
|
|
|
|
|
|
|
Date: March 31,
2021
|
By:
|
/s/ Mark C.
Jensen
|
|
|
|
|
Mark C.
Jensen
|
|
|
|
|
Chief Executive Officer |
|
Exhibit 99.1
American Resources Corporation Provides Update on Perry County
Resources Complex and American Carbon Division
Company recommences shipments of carbon from PCR
complex
PCR mine has implemented expansion to utilize three continuous
miners with plan to utilize a total of five
PCR complex will employ over 170 workers when fully ramped under
its low-cost operating model
March 30, 2021 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / March 30, 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
provided an operational update of its Perry County Resources (PCR)
complex and its American Carbon division.
The Company has commenced shipping specialty stoker carbon to
customers for industrial purposes. Additionally, American Resources
has begun ramping the production of the PCR mine under its low-cost
operating structure and mine plan. The Company is scaling its
production utilizing three continuous miners to increase its carbon
production for its baseload steel customers and plans to scale its
production to utilize a total of five continuous miners throughout
the year.
Tarlis Thompson, Chief Operating Officer of American Resources
Corporation commented, “These shipments from Perry County
Resources represent our first since idling and restructuring the
complex during the midst of the COVID-19 pandemic. We are very
excited to bring the complex back online to showcase our efficient
low-cost structure, supply our customers with a high-quality,
stable product and bring stable well-paying jobs back to this
region.”
The PCR complex has been restructured under American Resources
operating strategy to reduce legacy liabilities, streamline
operations to focus on efficiencies, safety and environmentalism
and reposition its assets to leverage the needs of a more
modern-day economy. The PCR complex is well-positioned to be one of
the most competitive complexes in the region and will employ over
170 workers with stable well-paying jobs are it reached its
targeted capacity of 1.0 – 1.5 million tons of carbon per
annum.
Additionally, the Company has deployed a development and
maintenance crew to its McCoy Elkhorn (MEC) complex to prepare the
complex to be brought back online. The crew is performing
maintenance work at its Carnegie 1 mine and Bevins Branch
processing facility as well as development work at its Carnegie 2
mine. The Carnegie mines will serve as the Company’s baseload
production at its McCoy Elkhorn complex able to produce 350,000
– 500,000 of high-quality metallurgical carbon for the
domestic and international steel making markets. The Company will
then look to further scale the production of its MEC by bringing
additional capacity online. American Resources expects its McCoy
Elkhorn complex to add an additional 140 initial jobs to the region
through the operations of its Carnegie mines and Bevins Branch
processing facility. Maintenance and development capital
expenditures at MEC is expected to be approximately $1.2 million.
The Company is currently evaluating the carbon and steel markets to
commence operations at MEC during the second-to-third quarter of
2021.
American Resources continues to focus on running efficient
streamlined operations in being a new-aged supplier of raw
materials to the infrastructure and electrification marketplace in
the most sustainable of ways. By operating with low or no
legacy costs and having one of the largest and most innovative
growth pipelines in the industry, American Resources Corporation
works to maximize value for its investors by positioning its large
asset base to best fit a new-aged economy, while being able to
scale its operations to meet the growth of the markets it
serves.
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
RedChip
Companies Inc.
Todd
McKnight
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
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