American Resources Corporation Sets Record Date of May 14, 2024 for Special Dividend of American Carbon Corporation Division

American Carbon Corporation has filed a Form 10 registration statement to prepare for a public listing which is currently under review by the Securities and Exchange Commission

American Resources is distributing 1 share of American Carbon for every 4 shares of American Resources Corporation as of the Record Date

FISHERS, IN / ACCESSWIRE / April 4, 2024 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), 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, today announced that its Board of Directors has declared a special dividend of shares of its wholly owned subsidiary, American Carbon Corporation ("American Carbon") ("Special Dividend"). The Special Dividend will be distributed on or about May 29, 2024 to shareholders of record on May 14, 2024 ("Record Date").

Mark Jensen, CEO and Chairman of American Resources Corporation commented, "Positioning our divisions for growth and unlocking value for our shareholders is of the utmost importance. Over the course of the last twelve months, we have been approached by numerous parties that have interest in the entire platform or certain pieces of American Carbon, and are actively continuing that dialogue. To date, we believe the structures offered have not provided the certainty required to move forward, and this process provides certainty for the division to focus on being a global provider of infrastructure related products. Our Board of Directors also believes that spinning the division off into a standalone company provides the most certainty of structure and position for the company and its employment base, while also providing a royalty back to American Resources as consideration. We are excited about the opportunity for the American Carbon team to have the appropriate flexibility to move forward on divestures, acquisitions and organic growth opportunities to execute within its addressable market in the future. Furthermore, with lack of necessary investment into the overall industry, we believe the market will have a supply deficit for the foreseeable future in the steel materials marketplace. We are thankful for the hard work of our team to position all of our companies for success as independent entities."