AREC - merican Resources reduces debt by over $9M

• American Resources ( NASDAQ: AREC ) has announced that its final convertible debt holder, Golden Properties, has elected to convert all of their Senior Convertible Debentures due March 31, 2023 to shares of class A common stock in a move that reduces the debt of the Co. by over $9M.
• Golden Properties will increase its long-term equity position stock through the conversion of the balance of its convertible debt, amounting to ~$9.9M, and resulting in ~9.4M shares issued to the shareholder.
• Golden Properties was an original investor in American Resources and has increased its ownership steadily over time through additional investment.
• "We have always had a great working relationship with Golden Properties, and they have always been a long-term shareholder of our company since inception."  said Mark Jensen, CEO of American Resources.

For further details see: