American Resources responds to market volatility, posts of false information

American Resources responds to recent market volatility in its stock price and false information posted in certain online chat rooms stating American Resources Corporation is issuing 20 million shares at 48 cents per share. Mark Jensen, CEO stated, “We find it highly disturbing and damaging to our shareholders that individuals or hedge funds with ulterior motives will put out false information to drive our stock price down at the expense of our shareholders. We can definitively state that the recent comments alleging American Resources is raising equity capital at 48 cents are entirely false. Such comments are nefarious, manipulative and damaging to our stockholders. We have notified our counsel and are filing a complaint with the SEC and NASDAQ to investigate the posts that have been made and the resulting trading activity in American Resources Corporation’s common stock. We also believe naked short selling is systemic in the market and we hope the regulators investigate such activities and the use of false information to manipulate stock prices. It is widely known that certain types of traders and hedge funds will front run certain deals in the market. These types of traders and hedge funds are looking to utilize non-public information and profit off of it at the expense of investors and retail shareholders. Often, this activity includes naked short selling before a deal is publicly announced, then cover their short position in a deal through the issuance of new shares. In the instance of our stock price, it appears certain traders or hedge funds believed we were looking to raise money over the last two days based on false and misleading information posted in online chat rooms and attempted to front run such information and speculative activity. We can reiterate today that we are not raising money at the American Resources level, as we have stated publicly, and are focused on growing our business through alternative methods of nondilutive capital based on our unique asset base and future cash flow. Furthermore, we believe all divisions of the Company continue to execute extremely well to leverage are unique set of assets, intellectual property, team and partnerships in creating attractive value for our great group of long-term shareholders. We couldn’t be more excited in how each of our divisions are positioned today and believe our focus on executing the businesses will ultimately dictate share price. It is unfortunate that these recent activities based on false and nefarious information requires us to momentarily shift such focus, and we hope these activities are investigated and those responsible are punished to the fullest extent of the law.”