American Resources' Electrified Materials Announces Closing of its Previously Announced Private Placement for Gross Proceeds of $9.5 Million

About this update from American Resources Corporation

FISHERS, IN / ACCESS Newswire / July 16, 2026 / American Resources Corporation ("American Resources") (NASDAQ:AREC) today announced that its majority-owned subsidiary, Electrified Materials Corporation ("EMCO"), has closed its previously announced private placement offering of 378,200 shares of Series A Convertible Preferred Stock at an offering price of $25.00 per share (the " Offering "). The initial tranche funding occurred on May 22, 2026 with total gross proceeds to EMCO from the Offering were approximately $9.5 million before deducting placement agent's fees and other offering expenses. Each preferred share is convertible into the number of shares of Common Stock equal to $25 divided by the lesser of (i) 85% of the Initial Go-Public Listing Price (when and if such transaction occurs); or (ii) $125.0 million divided by the fully diluted capitalization as of the time consummation of the Go-Public Transaction. Maxim Group LLC acted as the sole placement agent in connection with the Offering. The offer and sale of the foregoing securities described in the Offering are being made in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder, and the securities have not been registered under the Securities Act or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. About Electrified Materials Corporation Electrified Materials Corporation ("EMCO") is a majority-owned subsidiary of American Resources Corporation (NASDAQ: AREC). EMCO is an innovative recycler of metals and minerals serving advanced technology, commercial, and defense markets. The company specializes in preprocessing end-of-life magnets, batteries, and ferrous metals to help ensure a secure domestic supply of copper, aluminum, steel, rare earth elements, and battery materials. Through its partnership with ReElement Technologies Corporation, EMCO delivers a fully integrated solution that supports a resilient U.S. supply chain.

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