American resources corporation receives unsolicited bid for american carbon for up to $260 million in total enterprise value

Strategic committee and members of the board of directors determine the proposed structure and duration of payments of the unsolicited proposal does not achieve the best interests of american resources' shareholders company remains committed on monetizing assets of its carbon business either through sale, lease or production of the divisions company focused on expanding production at mccoy elkhorn and wyoming county coal post the closing of $45 million tax exempt bond financing fishers, in / accesswire / june 28, 2023 / 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, shares that it has received an unsolicited bid for the assets of its wholly owned metallurgical carbon division, american carbon, that included upfront cash, assumption of debt and a scaling royalty structure totaling an implied enterprise value of approximately $260 million. the proposal was not accepted due to the duration and structure of the consideration payments, but the company remains committed to maximizing the value for shareholders including the sale, lease or expansion of production from the company's first-class metallurgical carbon assets.
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