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AREC / American Resources inks $45M bond purchase deal for carbon processing facility in West Virginia

American Resources Corporation (NASDAQ:AREC) announced that it has entered into a bond purchase agreement with Hilltop Securities, Inc, for the sale of the West Virginia Economic Development Authority (WVEDA) preliminarily approved issuance of, and a volume cap allocation for $45 million of private activity, Solid Waste Disposal Facility Revenue Bonds, Series 2023, for the company's Wyoming County Coal (WCC) complex in West Virginia. The socially-responsible supplier of raw materials to the new infrastructure and electrification marketplace said the $45 million Tax-Exempt Industrial Development Bonds will fund the expansion and technological improvements to the existing metallurgical carbon processing facility as well as the integration and construction of new rare earth processing capacity. Read More

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Content Topics

American

Resources

Inks

45m

Bond

Purchase

Deal

Carbon

Processing

Facility

Virginia

Stock

AREC

Posted: Jun 1 2023, 09:25

Author Name: Proactive Investors

AREC News

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