American resources corporation's reelement technologies announces successful execution and closing of bond purchase agreement for $150 million of kentucky industrial building revenue bonds for its kentucky lithium refinery

$150 million tax-exempt, industrial building revenue bonds will fund the development and operational commissioning of the united states' first-of-its-kind lithium processing and refining facility in knott county, kentucky bond purchase agreement was executed with hilltop securities inc. who acted as sole-underwriter for the bond offering fishers, in / accesswire / march 28, 2024 / american resources corporation's (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 successfully executed and closed a bond purchase agreement with hilltop securities inc. for $150,000,000 principal amount of kentucky industrial building revenue bonds, series 2024, for the company's kentucky lithium llc ("kyl") complex located near the town of kite, kentucky. as previously stated, the company's knott county, kentucky lithium refining facility is being designed with an initial capacity to produce 15,000 metric ton per annum of either battery-grade lithium carbonate (li2co3) and/or lithium hydroxide (lioh) and with the ability to modularly increase capacity beyond the initial build.
AREC Ratings Summary
AREC Quant Ranking