American Resources Corp. Signs Material Definitive Agreement
Ticker: AREC · Form: 8-K · Filed: Jan 6, 2025 · CIK: 1590715
Sentiment: neutral
Topics: material-agreement, coal-mining
TL;DR
ARC just signed a big deal, filing shows.
AI Summary
American Resources Corp. entered into a material definitive agreement on December 30, 2024. The company, previously known as NGFC Equities, Inc., is incorporated in Florida and operates in the bituminous coal & lignite mining industry. This 8-K filing reports on this significant agreement.
Why It Matters
This filing indicates a significant new contract or partnership for American Resources Corp., which could impact its future operations and financial performance in the coal mining sector.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and their specific terms are crucial for assessing the overall risk profile.
Key Players & Entities
- American Resources Corp. (company) — Registrant
- NGFC Equities, Inc. (company) — Former company name
- December 30, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by American Resources Corp.?
The filing states that American Resources Corp. entered into a material definitive agreement on December 30, 2024, but the specific details of the agreement are not provided in this excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 30, 2024.
What industry does American Resources Corp. operate in?
American Resources Corp. operates in the BITUMINOUS COAL & LIGNITE MINING industry, with SIC code 1220.
What were the previous names of American Resources Corp.?
American Resources Corp. was formerly known as NGFC Equities, Inc. and NATURAL GAS FUELING & CONVERSION INC.
In which state is American Resources Corp. incorporated?
American Resources Corp. is incorporated in Florida.
Filing Stats: 646 words · 3 min read · ~2 pages · Grade level 11.9 · Accepted 2025-01-06 08:00:33
Filing Documents
- arec_8k.htm (8-K) — 21KB
- arec_ex101.htm (EX-10.1) — 2KB
- arec_ex101img1.jpg (GRAPHIC) — 111KB
- arec_ex101img2.jpg (GRAPHIC) — 103KB
- arec_ex101img3.jpg (GRAPHIC) — 23KB
- 0001654954-25-000116.txt ( ) — 461KB
- arec-20241230.xsd (EX-101.SCH) — 6KB
- arec-20241230_lab.xml (EX-101.LAB) — 13KB
- arec-20241230_cal.xml (EX-101.CAL) — 1KB
- arec-20241230_pre.xml (EX-101.PRE) — 8KB
- arec-20241230_def.xml (EX-101.DEF) — 2KB
- arec_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On December 30, 2024, American Resources Corporation's majority owned subsidiary, American Infrastructure Corporation ("AIC") entered into a binding term sheet (the "Term Sheet") defining the primary terms of a series of a binding merger (the "Merger") between American Infrastructure Corporation, CGrowth Capital, Inc. ("CGRA" or the "Company"), and American Resources Corporation, the controlling shareholder of AIC. As set forth in the Term Sheet, CGRA will purchase 100% of the issued and outstanding shares of common stock of AIC and its shareholders on a fully diluted basis. Concurrently CRGA will issue to the same shareholders of AIC, proportional to their respective ownership of the common stock of AIC, Ten Million shares of newly created Series A Preferred Stock (the "Series A"). As a result, AIC will be a wholly-owned subsidiary of CGRA, all AIC shareholders would sell all their common stock in AIC, proportional to their ownership in AIC, for the Ten Million Series A shares. The Series A will provide its holders with non-dilution rights such that, until converted to common stock as provided below, the Series A will convert (as a group) into 92.0% of the fully diluted outstanding shares of common stock of CGRA. The Series A will convert to common at the earlier of (i) at the discretion of the holder, (ii) automatically upon uplisting of CGRA to a senior stock exchange (such as NASDAQ, NYSE, CBOE) in the United States, or (iii) automatically 12 months after issuance.
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 10.1 Term Sheet between American Infrastructure Corporation, CGrowth Capital, Inc. and American Resources Corporation 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: January 6, 2025 By: /s/ Mark C. Jensen Mark C. Jensen Chief Executive Officer 3