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Funding to accelerate commercial equipment procurement amid China's export restrictions.
ReElement Technologies, a subsidiary of American Resources Corp (Nasdaq: AREC), has secured a $150 million pre-money valuation in a U.S.-focused private capital round. The funding will be used to expedite the procurement of commercial equipment at its Indiana facilities in response to China's recent restrictions on critical mineral exports.
The $150 million valuation underscores investor confidence in ReElement's strategic pivot towards domestic production capabilities. American Resources Corp currently has a free float of 58,336,000 shares.
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