Business
American Resources Corporation Sponsored American Acquisition Opportunity Inc. Closes Previously Announced Acquisition of Royalty Management Corporation and Commences Trading on Nasdaq
RMC is the next-generation royalty company targeting high value assets, cash flow and royalty streams by identifying undervalued assets while constructively
About this update from American Resources Corporation
[{"type":"text","content":"RMC is the next-generation royalty company targeting high value assets, cash flow and royalty streams by identifying undervalued assets while constructively supporting communitiesThe transaction positions RMC to capitalize on organic and inorganic growth opportunities within the electrification and energy transition industry, natural resources, intellectual properties and ag-tech investmentsThe securities will trade on Nasdaq under the tickers RMCO and RMCOWFISHERS, IN / ACCESSWIRE / November 6, 2023 / 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 that the special purpose acquisition vehicle it had sponsored, American Acquisition Opportunity Inc., has successfully closed its previously announced acquisition of Royalty Management Co (\"RMC\"). RMC is a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high value assets in a sustainable market environment and will commence trading on the Nasdaq Capital Market under the ticker RMCO and RMCOW today, Monday November 6, 2023.Mark Jensen, Chairman and CEO of American Resources Corporation commented, \"We are extremely proud of our American Acquisition Opportunity sponsorship team for the successful merger with Royalty Management Corporation. The merger between the two entities was completed without a complicated capital structure thereby positioning RMC for future growth. When we initially took American Acquisition public we worked on a number of acquisitions that would have required very complicated structures. With RMC, we didn't require external capital, no capital was paid out to the shareholders of RMC, and RMC is positioned to be able to grow its business while keeping its need for capital and cost structure at a minimum. Furthermore, it couldn't be a better time to list a company such as RMC given the high interest rate environment and need for alternative capital bases or means to create liquidity for acquisition targets of RMC.\"About American Resources CorporationAmerican Resources Corporation is a next-generation, environmentally and socially responsible supplier of...