AREC - American Resources sells rights to carbon nanostructure graphene patents

• American Resources ( NASDAQ: AREC ) has sold its exclusive patent rights in carbon nanostructure and graphene technology to Novusterra in exchange for $16M worth of Class A common Novusterra stock.
• The materials firm plans to dividend a majority of the shares that it receives through this transaction to its underlying investors at or before Novusterra's public offering, which is still subject to exchange and SEC approvals.
• Pursuant to the deal, Novusterra will seek listing on a public exchange in order to fund the development and commercialization of the carbon nanostructure and graphene technology with a focus on infrastructure and battery storage applications.
• It will gain rights to lease certain properties and facilities in Indiana, Kentucky and West Virginia from American Resources which will enable for synergistic opportunities for both companies.
• Additionally, Novusterra will fund the sponsored research program at Texas Tech University to advance the preprocessing, carbon nanostructure and graphene technology to commercialization.
• AREC members will take over Novusterra management and join its board of directors. Gregory Jensen will be named CEO and director of Novusterra, while Mark LaVerghetta will be named chairman of the board. Gerardine Botte will take over as chief technical officer

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