Brief: American Resources' American Metals LLC Executes Business Combination With Nasdaq Listed AI Transportation Acquisition

American Resources

01/07/2024 13:11

July 1 (Reuters) - AI Transportation Acquisition Corp
 AITR.O :
    * AMERICAN RESOURCES CORPORATION’S AMERICAN METALS LLC
EXECUTES
BUSINESS COMBINATION WITH NASDAQ LISTED AI TRANSPORTATION
ACQUISITION CORP
    * AMERICAN RESOURCES CORP: PROPOSED TRANSACTION REPRESENTS A
TOTAL
EQUITY VALUE OF USD 170 MILLION FOR COMBINED COMPANY ON A PRO
FORMA BASIS
    * AMERICAN RESOURCES CORP:  UNDER DEAL, EACH OF AITR
&AMERICAN
METALS WILL BECOME WHOLLY-OWNED SUBSIDIARIES OF ELECTRIFIED
MATERIALS CORPORATION
    * AMERICAN RESOURCES CORP: COMBINED COMPANY WILL BE LISTED
ON
NASDAQ STOCK MARKET UNDER TICKER SYMBOL "EMCO"

Source text for Eikon:  ID:nGNXF1mc9 
Further company coverage:  AITR.O 

 ((Reuters.Briefs@thomsonreuters.com;))