American resources corporation (nasdaqcm:arec) completed the acquisition of certain assets and operations from perry county coal llc, bear branch coal company, ray coal llc and whitaker coal llc for $9.6 million.

American resources corporation (nasdaqcm:arec) entered into a binding agreement to acquire certain assets and operations from perry county coal llc, bear branch coal company, ray coal llc and whitaker coal llc for $10 million on september 23, 2019. upon completion, american resources corporation will pay $1 to perry county coal llc. additionally, american resources corporation will assume all liabilities relating to the transferred permits and the associated reclamation and post- mining liabilities of the purchased assets totaling approximately $10 million. the proposed purchase of these assets will be governed by the court-supervised process under section 363 of the u.s. bankruptcy code and is subject to court-approved bidding procedures. jefferies llc acted as financial advisor to cambrian coal, parent entity of perry county coal llc. american resources corporation (nasdaqcm:arec) completed the acquisition of certain assets and operations from perry county coal llc, bear branch coal company, ray coal llc and whitaker coal llc for $9.6 million on september 27, 2019. american resources corporation paid $1 to perry county coal llc. additionally, american resources corporation will assume all liabilities relating to the transferred permits and the associated reclamation and post- mining liabilities of the purchased assets totaling approximately $9.614 million.
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