American Resources (NASDAQ: AREC) is 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. The company announced that the special purpose acquisition vehicle it had sponsored, American Acquisition Opportunity Inc., has successfully closed its acquisition of Royalty Management Co (“RMC”). Royalty Management Holding Co. (NASDAQ: RMCO, RMCOW), a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high value assets in a sustainable market environment, announced its commencement of trading under the ticker RMCO and RMCOW, effective on Monday, Nov. 6, 2023.
“We are extremely proud of our American Acquisition Opportunity sponsorship team for the successful merger with Royalty Management Corporation,” said Mark Jensen, chairman and CEO of American Resources Corporation. “The merger between the two entities was completed without a complicated capital structure thereby positioning RMC for future growth. When we initially took American Acquisition public we worked on a number of acquisitions that would have required very complicated structures. With RMC, we didn’t require external capital, no capital was paid out to the shareholders of RMC, and RMC is positioned to be able to grow its business while keeping its need for capital and cost structure at a minimum. Furthermore, it couldn’t be a better time to list a company such as RMC given the high interest rate environment and need for alternative capital bases or means to create liquidity for acquisition targets of RMC.”
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About American Resources Corporation
American Resources is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated. American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information, visit AmericanResourcesCorp.com.
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