American resources corporation enters into a binding letter of intent to sell assets associated to its deane mining complex

Offer represents a $20.6 million enterprise value in the form of upfront cash, royalty interest and replacement of environmental reclamation bonds fishers, in / accesswire / august 3, 2023 / american resources corporation's (nasdaq:arec) ("american resources" or the "company") american carbon subsidiary, a leading producer of high quality metallurgical and specialty carbon, has entered into a binding letter of intent to sell certain assets of american carbon corporation that are associated to the company's deane mining complex for a total enterprise value consideration of approximately $20.6 million. this consideration is payable to the company in the form of an upfront cash payment, ongoing quarterly cash payments for up to $10.5 million, and the assumption of certain environmental reclamation bonds associated with related permits.
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