American Resources Corporation Announces Full Exercise and Closing of Underwriters' Over-Allotment Option in Connection with its Underwritten Public Offering

American Resources Corporation

Companies Mentioned:

Primary Exchange: NASDAQ
Under the Symbol: AREC

$0.80

($0.3175)

-28.4116


American Resources Corporation Announces Full Exercise and Closing of Underwriters' Over-Allotment Option in Connection with its Underwritten Public Offering

Thursday, March 7, 2019 4:15 PM

FISHERS, IN / ACCESSWIRE / March 7, 2019 / American Resources Corp. ("American Resources" or the "Company") (NASDAQ: AREC), a publicly traded extraction, processing, transportation and seller of metallurgical coal and pulverized coal injection (PCI) to the steel industry, announced today the closing of the issuance of an additional 150,000 shares of Class A common stock pursuant to the exercise in full of the underwriters' over-allotment option in connection with its underwritten public offering. The additional shares were sold at $4.00 per share, generating additional gross proceeds of $600,000 to the Company and bringing the total gross proceeds of the offering to $4,600,000.

Maxim Group LLC acted as the sole book-running manager for the offering.

The securities were sold pursuant to a registration statement on Form S-1, which was declared effective by the United States Securities and Exchange Commission ("SEC") on February 14, 2019. A final prospectus relating to this offering was filed with the SEC on February 15, 2019.

The offering is being made only by means of a prospectus. Copies of the prospectus related to this offering may be obtained from Maxim Group LLC, 405 Lexington Ave, New York, NY 10174, Attn: Prospectus Department or by Tel: (800) 724-0761. Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About American Resources Corp.

American Resources Corporation is a supplier of raw materials to the rapidly growing global infrastructure marketplace. The company's primary focus is on the extraction, processing, transportation and selling of metallurgical coal and pulverized coal injection (PCI) to the steel industry. The company operations are based in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical products are located.

The company's business model is based on running a streamlined and efficient operation to economically extract and deliver resources to meet its customers' demands. By running operations with low or no legacy costs, American Resources Corporation works to maximize margins for its investors while being able to scale its operations to meet the growth of the global infrastructure market.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. The words "believes," "may," "will," "should," "would," "could," "continue," "seeks," "anticipates," "plans," "expects," "intends," "estimates," or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

CONTACT:

Website:
http://www.americanresourcescorp.com

Institutional/Retail/Individual Contact:
RedStone Communications
Anthony D. Altavilla, President
317-569-1617 - Office
317-590-3780 - Cell
[email protected]
www.redstonecommunications.com

American Capital Ventures
Howard Gostfrand, President
305-918-7000 - Office
[email protected]
www.amcapventures.com

Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
[email protected]

SOURCE: American Resources Corporation


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