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American Resources Corporation Provides Update on American Carbon Corporation
American Carbon Corporation changes name to American Infrastructure CorporationCompany signs lease on McCoy Elkhorn complex reducing operating risk with a
About this update from American Resources Corporation
[{"type":"text","content":"American Carbon Corporation changes name to American Infrastructure CorporationCompany signs lease on McCoy Elkhorn complex reducing operating risk with a near-term goal of restarting complexCompany to distribute 25% of its ownership in American Infrastructure Corporation as a special dividend on the previously announced date of August 9th FISHERS, IN / ACCESSWIRE / August 7, 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, today announced updates on its wholly owned subsidiary, American Carbon Corporation.Name Change to American Infrastructure CorporationAmerican Carbon Corporation has changed its name to American Infrastructure Corporation to reflect the Company's broader focus on producing high-quality raw material inputs to the global steel and infrastructure markets including metallurgical carbon and iron ore. As previously announced, the Company recently completed a strategic acquisition of a 51% ownership interest in a diversified mineral asset with a focus on iron ore, titanium and vanadium.American Infrastructure Corporation Special Dividend and Public / Sale ProcessThe Company will be distributing 25% of its ownership interest in American Infrastructure Corporation on the previously announced distribution date of August 9, 2024 to its underlying shareholders of record as of May 27, 2024. Shareholders of record will still receive 1 share of American Infrastructure Corporation for every 4 shares of American Resources Corporation at the rate of distribution. The Company continues to work with potential merger partners, including public companies and special purpose acquisition companies (\"SPAC''s\"), operators, joint venture partners and potential acquirers of divisions as its best long-term option to maximize growth and value for its shareholders, as well for achieving listing requirements for national exchanges. The Company is in the process of completing its reaudit of its financials post upgrading its auditor with the goal of being a public company or selling divisions during the final part of the 2024 calendar year to unlock value for its shareholders.Business Model / Operational UpdateA...