American Resources' reELEMENT secures working capital facility

• American Resources (NASDAQ:AREC) has announced that reELEMENT Technologies has put in place an independent working capital facility that will enable the division to expand to revenue and cash flow generation.
• This initial working capital facility of $2M will be used to expand the production capabilities of rare earth and battery element recycling.
• Its also enables reELEMENT Technologies to establish credit history and provides low cost, non-dilutive, growth capital to expand current rare earth and battery element purification facility.
• "We're impressed by the revolutionary technology that they're commercializing and believe our capital is a cost effective way to leverage their asset base and expand their magnet and battery recycling capacity." said Mike Dance, COO of Maxus Capital.