Business
American Resources Corporation Adjusts the Record Date for Special Dividend of its Holdings in Novusterra Inc.
FISHERS, IN / ACCESSWIRE / March 5, 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 / March 5, 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 regulatory and statutory requirements with the NASDAQ Capital Markets, the Record Date for the previously announced special dividend of Novusterra Inc. has been adjusted to now occur on March 18, 2024. Similarly, the distribution date for the special dividend is adjusted to now occur on March 25, 2024.Please refer to American Resources Corporation press release dated March 1, 2024 for additional information on the special dividend. The planned special dividend shall be subject to compliance with applicable rules and regulations.About Novusterra Inc.Novusterra's specializes in the development and commercialization of patented technology to produce low cost, high quality carbon nanostructures and graphene from carbon-based deposits to be utilized within the sustainable infrastructure, energy storage, agriculture and water filtration marketplaces. The Company secured its patents through the acquisition of an exclusive sublicense with American Resources Corporation (NASDAQ:AREC) which are designed to make use of an abundant and low-cost feedstock (coal) in an environmentally friendly process.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 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 wh...