American Resources Corp Enters Material Definitive Agreement

Ticker: AREC · Form: 8-K · Filed: Apr 8, 2024 · CIK: 1590715

Sentiment: neutral

Topics: material-agreement, coal-mining

TL;DR

ARC just signed a big deal, details TBD.

AI Summary

American Resources Corporation announced on March 28, 2024, that it entered into a material definitive agreement. The company, previously known as NGFC Equities, Inc., is involved in the bituminous coal and lignite mining industry. Further details regarding the agreement are not provided in this initial filing.

Why It Matters

This filing indicates a significant new agreement for American Resources Corp, which could impact its future operations and financial performance in the coal mining sector.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could carry significant implications, but lacks specific details to fully assess the risk.

Key Players & Entities

FAQ

What is the nature of the material definitive agreement entered into by American Resources Corporation?

The filing states that American Resources Corporation entered into a material definitive agreement on March 28, 2024, but does not provide specific details about the agreement's terms or purpose.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on March 28, 2024.

What was American Resources Corporation's former company name?

American Resources Corporation was formerly known as NGFC Equities, Inc.

In which industry does American Resources Corporation operate?

American Resources Corporation operates in the BITUMINOUS COAL & LIGNITE MINING industry.

What is the state of incorporation for American Resources Corporation?

American Resources Corporation is incorporated in Florida.

Filing Stats: 676 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2024-04-08 11:53:39

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On March 28, 2024, American Resources Corporation's ("American Resources" or the "Company") wholly owned subsidiary, ReElement Technologies Corporation ("ReElement"), closed a Bond Purchase Agreement ("Purchase Agreement") with Hilltop Securities Inc. (the "Underwriter"), Knott County, Kentucky (the "Issuer"), a county and political subdivision organized and existing under the laws of the Commonwealth of Kentucky (the "Commonwealth"), whereby the Underwriter agrees to purchase from the Issuer, and the Issuer agrees to sell and deliver to the Underwriter, all (but not less than all) of the Knott County, Kentucky Industrial Building Revenue Bonds (Solid Waste Project), Series 2024 (the "Bonds"), at the purchase price of $150,000,000 (which is equal to the aggregate principal amount of the Bonds). The Bonds have been authorized pursuant to the laws of the Commonwealth. The proceeds of the sale of the Bonds will be used to develop ReElement's Kentucky Lithium refining facility which is being designed with an initial capacity to produce 15,000 metric ton per annum of battery-grade lithium carbonate and/or lithium hydroxide. The Bonds are being offered and sold only to a limited number of "Qualified Institutional Buyers" within the meaning of Rule 144A of the Securities Act of 1933, as amended (the "1933 Act"), or "Accredited Investors" within the meaning of Regulation D promulgated under the 1933 Act. The Bond Purchase Agreement is due to close on March 28, 2024, subject to customary closing conditions and document delivery. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text, which is filed as an Exhibit hereto.

01 Other Events

Item 8.01 Other Events. On March 28, 2023 American Resources issued a press release announcing that it has successfully executed a Bond Purchase Agreement with Hilltop Securities Inc. for $150,000,000 principal amount of Kentucky Industrial Building Revenue Bonds, Series 2024, for the Company's Kentucky Lithium LLC complex located near the town of Kite, Kentucky. The information presented in Item 8.01 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, unless the Company specifically states that the information is to be considered "filed" under the Exchange Act or specifically incorporates it by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are attached hereto and filed herewith. Exhibit No. Description 1.1 Purchase Agreement 99.1 Press Release Dated March 28, 2024 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. American Resources Corporation Date: April 8, 2024 By: /s/ Mark C. Jensen Mark C. Jensen Chief Executive Officer 3

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