American Resources Corporation’s ReElement Technologies Announces Successful Execution and Closing of Bond Purchase Agreement for $150 Million of Kentucky Industrial Building Revenue Bonds for its Ken

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$150 million in Tax-Free, Industrial Building Funds will fund the development and operation of the first-of-its-kind lithium facility in the United States in Knott County, Kentucky.

The Bond Purchase Agreement was handled by Hilltop Securities Inc. who acted as sole underwriter for the bond issue.

ASODZI, MU / ACCESSWIRE / March 28, 2024 / American Resources (NASDAQ:) Corporation’s (NASDAQ:AREC) (“American Resources” or the “Company”) subsidiary, ReElement Technologies Corporation (“ReElement”), a leading global refiner of rare and critical battery products, today. announced that it was successful in closing the Bond Purchase Agreement with Hilltop Securities Inc. for $150,000,000 principal amount of Kentucky Industrial Building Revenue Bonds, Series 2024, of Kentucky Lithium LLC (“KYL”) located near the town of Kite, Kentucky.

As previously mentioned, the company’s refinery in Knott County, Kentucky Lithium is being developed with the first capacity to produce 15,000 tons per year of lithium carbonate (Lithium carbonate).2CO3) and/or lithium hydroxide (LiOH) as well as being able to modularly increase the strength over the initial construction. KYL’s location and technology are also compatible with the Company’s recently announced production of the purest (99.96%), Li battery.2CO3 from hard rock, spodumene containing pegmatite ore that uses its proprietary multimodal chromatography technology for commercial purposes. Some of the key features of the device are:

  1. Low Carbon Footprint – The first lifetime analysis places KYL as one of the lowest, if not the lowest, lithium purification and purification sites in the world by combining ReElement’s low-pressure, high-performance chromatographic separation and purification technology within a broad hydrometallurgical process in which the use of minimal chemicals then solvent solutions, and combined with solar energy and battery storage to create a stable and sustainable energy source;
  2. Brownfield redevelopment – The site is being built on the site of a former coal mine that is reusing existing structures and sites that reduce environmental damage and reduce construction time to start;
  3. Coal Industry Workforce Redevelopment – The facility will find members of the coal industry who have used highly skilled materials handling equipment while developing skills to work in the energy conversion industry and operate the Kentucky Lithium facility. The facility is said to initially serve approximately 113 well-paid residents in the community; and
  4. IRA compliance – Preliminary analysis and calculations show that Li is ultra-pure2CO3 and the LiOH produced from this facility will meet IRA compliance for the growing domestic battery industry.

Kirk Taylor, CFO of American Resources Corporation said, “This is another important milestone for our company as we continue to focus on our mission to deliver and upgrade one of the world’s most important oil refineries. It is another important milestone for our ReElement Technologies division and our country. The planned transformation of our Knott County facility allows us to use controlled space, resources, infrastructure and skilled labor to meet the needs of a rapidly growing market and to conserve energy. using our high-refining process to produce high-value products . our vision of how to achieve our nation’s energy transition goals and there is no better example of how to achieve this than our Kentucky Lithium project. We also appreciate working with Hilltop Securities and their exceptional performance throughout this process. We are eager to share some of the highlights of the project and some of our expectations.”

American Resources continues to focus on operating a sustainable renewable energy infrastructure, while also helping the nation achieve its net-neutrality goals. Operating at low or low cost and having one of the largest and most advanced pipelines in the industry, American Resources Corporation strives to maximize returns for its investors by aligning its core assets with new assets, where they exist. they can expand their services to meet the growth of the markets they serve.

Company opinion ReElement Technologies Corp

ReElement Technologies Corp redefines how the world’s complex and rare materials are stored and processed while focusing on recycling end-of-life materials such as rare earth magnets and lithium-ion batteries, as well as coal-based waste streams and other materials. to create cheap and environmentally safe, circular. ReElement Technologies has created something new and dangerous “Capture-Process-Purify” process chain in conjunction with its intellectual property including 16 patents and technologies as well as collaborations supported by three leading universities to support the domestic demand for electricity and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook (NASDAQ: ), Twitter, and LinkedIn.

Opinions of the company American Resources Corporation

American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally responsible and socially responsible player in the new construction market. The company is focused on extracting and processing metal oxides, an important commodity used in the production of steel, a complex and rare mineral in the power generation market, as well as recycled metals for recycling. American Resources has growing operations in the Central Appalachian basin in eastern Kentucky and southern West Virginia where high-carbon metal and mineral deposits are found.

American Resources has developed a cost-effective, growth-oriented business model that provides greater opportunities for its assets to meet the growing global demand and energy markets while continuing to acquire jobs and significantly reduce the risk of its legacy companies. Its streamlined and efficient operations can increase margins and reduce costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.

Special Notice Regarding Forward-Looking Statements

This article contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include known and unknown risks, uncertainties, and other important factors that may affect the company’s actual results, operations, or success or Company results may differ materially from future results, performance, or expectations expressed or implied by forward-looking statements. These statements contain a number of risks and uncertainties, many of which are beyond the control of American Resources Corporation. The words “believe”, “may”, “should”, “will”, “may”, “continue”, “seek”, “expect”, “plan”, “anticipate”, “want”, “estimate”, or similar words intended to identify future statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this article are made as of the date of issue. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect subsequent events or conditions. The Company does not guarantee that the expected results or events will be achieved.

Investor Relations:
The JTC Group, LLC
General Thomas
833-475-8247
arec@jtcir.com

The opinion of the company RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
Info@redchip.com

Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com

source: Opinions of the company American Resources Corporation

See the first release on accesswire.com

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