American resources corporation enters into letter of intent to sell carbon mining assets of subsidiary american carbon corporation

Proposed transaction represents a $280 million consideration and assumption of certain debts and environmental reclamation bonds fishers, in / accesswire / october 4, 2023 / american resources corporation's (nasdaq:arec) ("american resources" or the "company") subsidiary american carbon corporation ("american carbon"), an owner and operator of low-cost, high-quality metallurgical and specialty carbon assets, has entered into a letter of intent to sell its carbon mining assets to a strategic party for the total consideration of approximately $280 million. the consideration takes the form of an upfront cash payment at closing, a share of profits generated from operations, an ongoing royalty payment based on carbon sales and minority equity interest upside.
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