American resources corporation's reelement technologies receives preliminary fiscal court approval for the issuance of up to $150 million of tax-exempt industrial revenue bonds for kentucky lithium refinery

Company has selected knott county, kentucky as the site for its third critical mineral and lithium refinery in the united states using its proven and patented technology up to $150 million of tax-exempt industrial revenue bonds will potentially fund redevelopment of the existing controlled site's infrastructure buildout, equipment installation and initial working capital for production company has engaged hilltop securities inc. to underwrite the bond offering fishers, in / accesswire / november 7, 2023 / american resources corporation (nasdaq:arec) ("american resources" or the "company") subsidiary, reelement technologies corporation ("reelement"), a leading provider of high-performance refining capacity of rare earth and critical battery elements, today announced that it has received initial approval from the knott county fiscal court for up to $150,000,000 of tax-exempt industrial revenue bonds for a large-scale lithium refinery utilizing the company's proven and patented critical mineral refining technology. the company also executed a memorandum of agreement with the county of knott which allows for joint discussions on further incentive options.
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