Business
American Resources Corporation Adjusts the Distribution Date for the Special Dividend of its Subsidiary American Carbon Corporation
FISHERS, IN / ACCESSWIRE / June 10, 2024 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and
About this update from American Resources Corporation
[{"type":"text","content":"FISHERS, IN / ACCESSWIRE / June 10, 2024 / American Resources Corporation (NASDAQ:AREC) (\"American Resources\" or the \"Company\"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, announced today that, due to the Company's decision to list its wholly owned subsidiary, American Carbon Corporation, on a national exchange prior to its distribution, the Distribution Date for the previously announced special dividend has been adjusted to now occur on August 9, 2024. The special dividend of American Carbon Corporation will still be distributed to shareholders of record of American Resources as of May 27, 2024.Mark Jensen, CEO and Chairman of American Resources Corporation commented, \"We continue to move as expeditiously as possible to complete the distribution of American Carbon Corporation. As a result of communicating with several of our shareholders, we wanted to provide them with the most efficient path to maintaining liquidity of our subsidiaries upon spinning off into standalone entities. As the largest shareholder group of the Company, our management team wholeheartedly believes in an open dialogue with its shareholders and the importance of its alignment in enhancing shareholder value. We couldn't be more excited in the current position of all of our entities and the opportunities we have in front of us to positively unlock value in the public markets for our shareholders and stakeholders. The team is also working aggressively towards establishing a record date and distribution date for our ReElement Technologies Corporation division, which we hope to provide such dates in the near term.\"Please refer to American Resources Corporation press release dated April 4, 2024 for additional information on the special dividend. The planned special dividend shall be subject to compliance with applicable rules and regulations.About American Resources CorporationAmerican Resources Corporation (NASDAQ: AREC) 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 t...