American resources corporation sells exclusive rights to carbon nanostructure and graphene patents

American resources corporation has agreed to sell their exclusive patent rights in carbon nanostructure and graphene technology to novusterra inc. in exchange for $16 million worth of novusterra stock members of american resources corporation will take over the management of novusterra inc. as well as join its board of directors american resources intends to dividend a majority of the shares that it receives through this transaction to its underlying investors at or before novusterra's public offering, which is still subject to exchange and sec approvals fishers, in / accesswire / august 31, 2022 / 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, today announced that it has sold its exclusive patent rights in carbon nanostructure and graphene technology to novusterra inc. ("novusterra") for $16 million paid in all class a common novusterra shares. mark jensen, chief executive officer of american resources corporation commented, "we believe this transaction with novusterra will enable us to unlock the value of these technologies for american resources' shareholders as well as establish a platform and team for growing the business opportunity and maximizing the value of the technologies themselves.
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