American Resources’ ReElement receives court approval for bond issuance

American Resources’ ReElement Technologies Corporation has received initial approval from the Knott County Fiscal Court for up to $150,000,000 of Tax-Exempt Industrial Revenue Bonds for a large-scale lithium refinery utilizing the Company’s proven and patented critical mineral refining technology. The Company also executed a memorandum of agreement with the County of Knott which allows for joint discussions on further incentive options. Mark Jensen, CEO of American Resources Corporation commented, “We’ve put significant research into selecting a site to deploy our leading critical mineral refining technology for the production of lithium-ion battery, cell-grade lithium products. Our Knott County, Kentucky site is strategically located in the heart of the developing U.S. battery belt and also highlights the value of American Resources’ broad infrastructure platform. This location is an existing, controlled site within our platform of assets and perfectly exemplifies how we can efficiently support energy transition. In addition to its strategic geographic location, the eastern Kentucky region also possessed a workforce with rich knowledge and experience in cost-effective, large-scale commodity processing focused on consistent quality while also providing the necessary logistics and infrastructure required to move quickly. We are also excited to again work with the Hilltop Securities team given their impeccable execution on our previously announced Wyoming County, West Virginia, $45 million tax-exempt bond completed earlier this year. Furthermore, we’re confident our international supplies of lithium-bearing ores will enable us to meet the initial production quantities, while also positioning the facility to efficiently and modularly expand beyond its initial planned production of 15,000 metric tons of annual lithium carbonate or lithium hydroxide as feedstock and demand increase.”