American Resources’ ReElement files to convert from LLC to corporation

American Resources Corporation’s ReElement Technologies has filed the necessary paperwork to convert from a LLC to a corporation in preparation of its spinoff into a standalone public company under the name ReElement Technologies Corporation with a reserved ticker of RLMT. Conversion of the company to a corporation will allow for the common shares of ReElement to be distributed proportionally to the shareholders of American Resources Corporation, at a record date that will be set by the Board of Directors and communicated to shareholders. The Company, its Board of Directors and Special Committee have set out the following objectives which are in process: Spinoff ReElement into an independently run and operated business focused on the pure play refining of battery and rare earth elements into battery and magnet grade; Monetization of the metallurgical carbon mining business either through the sale or spinoff of such assets; and Focus on American Resources, post such events, taking ownership stakes in attractive critical mineral and rare-earth element resources opportunities.