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American Resources Corporation's Board of Directors Approves ReElement Technologies Corporation's Proposed Term Sheet From Investment Fund
Term sheet represents a $300,000,000 valuation for ReElement Technologies and up to $50,000,000 investment roundCertain members of management agree to
About this update from American Resources Corporation
[{"type":"text","content":"Term sheet represents a $300,000,000 valuation for ReElement Technologies and up to $50,000,000 investment roundCertain members of management agree to coinvest in the round with a commitment of greater than $1,000,000FISHERS, IN / ACCESSWIRE / March 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, announced today that the Company's Board of Directors has accepted the unsolicited term sheet received by an investment fund earlier this week. The terms of the proposed investment comes from an investment fund and includes the offer for leading an investment into the Company's wholly owned subsidiary, ReElement Technologies Corporation, for a total investment round of up to $50,000,0000 at a \"pre-money\" valuation of ReElement Technologies Corporation of $300,000,000.Mark Jensen, CEO of American Resources Corporation said, \"We appreciate the passion and energy that our investors have for our subsidiaries, including ReElement Technologies Corporation. The term sheet that we have received from this investment fund has been accepted by our board of directors. The terms and proposed capital will provide additional fuel for ReElement to significantly expedite its domestic and international growth and enables us to unlock value for our shareholders. Furthermore, members of management, including myself, are excited to participate in the round to help capitalize the division and execute upon our strategy. Over the last few months, we have been approached by numerous parties looking to partner with ReElement in the rare earth and critical battery materials sector to assist in the refining of their virgin ores or recycled feedstocks and are excited to announce these partners ranging from mining companies to large domestic auto manufacturers in the near term.\"The term sheet was provided by an investor that proposed an investment of common stock of ReElement Technologies Corporation and has been provided in an 8k on March 5th, 2024 which is linked here.Learn more about ReElement Technologies' process and technology here - Video.About American Resources CorporationAmerican Resources Corporation (NASDAQ: AREC) is ...