MIDLAND, VA / ACCESSWIRE / October 30, 2020 / Smith-Midland Corporation (OTCQX:SMID)

This week announcements were made on the latest two awards for Smith-Midland's recent SlenderWall architectural cladding project in Tysons, Virginia. Both the AGC of DC (Associated General Contractors) and the ABC of Metro Washington (Associated Builders and Contractors) have bestowed awards on the 346' tall mixed-use project. The AGC Washington Contractor Award and the ABC Excellence in Construction Award recognized the role Smith-Midland's premier architectural precast concrete cladding product SlenderWall played in the beauty and performance of the project.

This is the third award for the Lumen. Earlier this year it garnered a Southeast Building Conference Grand Aurora prize.

The Lennar Multifamily Communities project was designed by Architects Davis, Carter, Scott. Working with General Contractor Hoar Construction and Engineer Fernandez & Associates, Smith-Midland produced and installed more than 80,000 sq. ft. of SlenderWall and traditional architectural precast panels. Smith-Midland worked with their own team of subcontractors, EE Marr Erectors and Wilcox Caulking, to provide Hoar with a turn-key system. The factory insulated SlenderWall panels contributed a R-24 rating to thermal performance. For project details click through to the Lumen project article on the Smith-Midland website.

SlenderWall is fully compliant with current building codes including fire, windstorm, seismic and thermal requirements. The system is licensed for manufacture to qualified precast concrete companies across North America by Easi-Set Worldwide, a leading product line developer in the precast concrete industry. To inquire about licensing opportunities, contact Easi-Set at (540) 439-8911, info@easiset.com

SOURCE: Smith-Midland Corporation

ReleaseID: 613434

Company reports $127,982 of net income and $2.8 million of adjusted EBITDA
American Metal LLC subsidiary grew 30% over second quarter of 2020
Well-positioned to be a long-term supplier of raw material and critical elements to the modern-day infrastructure market
Strategic steps taken to transform into an infrastructure company producing pure metallurgical carbon, rare earth elements and metal aggregation, while enhancing environmental, social and governance (ESG) profile
Company expects multiple value driving milestones over the remainder of 2020
Company to host conference call on Monday, November 9, 2020 at 10:30 AM ET

FISHERS, IN / ACCESSWIRE / October 30, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure marketplace, today reported its third quarter of 2020 financial results and provided a corporate update.

Mark Jensen, Chairman and CEO of American Resources Corporation commented, "Over the course of the third quarter, our team continued to execute on the strategic transformation of the Company to solidify our position as a next generation and socially responsible supplier of raw materials. Our first-class portfolio of assets, which have been strategically acquired at a substantial discount to replacement value, has never been in a better position to deliver long term value for our stakeholders. Bolstered by our restructuring efforts that eliminate the industry's legacy mentality and issues and focuses on efficiency and forward thinking, our dynamic platform now sits at an inflection point and the beginning of a new era.

Third Quarter 2020 Key Highlights

Acquired two additional continuous miners (critical pieces of mining equipment) in anticipation of restarting Perry County Resources in the fourth quarter of 2020. The two additional continuous miners give American Resources a total of six to utilize under its restructured, efficient, low-cost operating structure. The Company's plan involves using a total of five continuous miners once fully ramped with two "super" sections and one bridge section.
Further reduced environmental liabilities and long-term costs through the strategic execution of environmental reclamation of idled, irrational thermal coal mines resulting in the bond release of an additional $400,000 of associated environmental reclamation bonds.
Commenced a railcar and metal recycling service partnership through its American Metals business line where it began to receive retired coal railcars to be recycled for their metal content and reused for alternative, modern-day purposes.
Received a prestigious Sentinels of Safety Award from the National Mining Association in recognition of its outstanding safety performance.
Further streamlined the Company's capital structure through the exercise of over two million warrants during and subsequent to the third quarter of 2020.

Mr. Jensen continued, "With the closing of our most recent capital raise and improvements to our balance sheet, we are confident that we are fully capitalized to execute our near-term plans and advance American Resources into its next and exciting chapter. Our metallurgical carbon operations are poised to restart in the fourth quarter of 2020 at Perry County Resources ("PCR") to fulfill our customers' 2021 contracted demand, with production capabilities of over 1.0 million tons per year of metallurgical carbon. Once we are operating at PCR this quarter, our sights will be set towards bringing our McCoy Elkhorn complex online sometime in mid-2021. Additionally, we are pleased with our American Metals business line, having grown nearly 30 percent quarter-over-quarter. We are committed to the growth of American Metals to further diversify our business in a meaningful way, and to advance and support our environmental efforts."

"Lastly, our recently announced American Rare Earth business line provides us with a lot of excitement and a tremendous opportunity to produce critical elements in the most environmentally friendly and socially conscious manner; all while helping to secure our country's resource independence and national security. American Rare Earth enables us to continue to innovate by advancing the Central Appalachian region towards becoming a domestic production hub of critical elements and at the same time, fully complements our ESG efforts and Sustainable Development Goals ("SDG"). Through its unique regional production attributes, the collection of these rare earth elements is done in a way that is a benefit to the environment, creates well-paying and meaningful jobs to an economically distressed area, and advances the United States, and the world, to a cleaner, more modern economy. We believe these ESG efforts will further distinguish American Resources as industry revolutionaries along with permanently shutting down and remediating irrational thermal coal operation throughout our region," added Mr. Jensen.

Conference Call Information

American Resources management will host a conference call for investors, analysts and other interested parties on Monday, November 9, 2020 at 10:30 AM ET.

To participate in the call, please dial (877) 407-4019 and reference the American Resources Conference Call.

Financial Results for Third Quarter 2020

For the third quarter of 2020, American Resources reported net income of $123,982, or $0.00 per share for the three months ended September 30, 2020, as compared with a net loss of $7.34 million, or a loss of $0.30 per share in the prior-year period. The Company earned adjusted earnings before interest, taxes, depreciation, amortization, equity-based compensation, warrant expense and development and restructuring costs ("Adjusted EBITDA") of $2.8 million in the third quarter of 2020, as compared with Adjusted EBITDA loss of $2.5 million for the third quarter of 2019.

Third Quarter 2020 Summary

Total revenues were $294,646 for the third quarter of 2020. Cost of sales (includes mining, transportation, royalty, holding and processing costs) for the third quarter of 2020 were $72,692, or 24.7 percent of total revenues, compared to $2.95 million, or 160 percent of total revenue in the same period of 2019.

General and administrative expenses for the third quarter of 2020 were $132,676, or ­­45 percent of total revenue, compared to $1.43 million during the third quarter of 2019. Depreciation for the third quarter of 2020 was $646,438, or 219 percent of total revenue. American Resources incurred interest expense of $379,583 during the third quarter of 2020 compared to $901,812 during the third quarter of 2019. Development costs during the quarter were $792,926, compared to $307,247 in the second quarter of 2020.

The Company did not incur any income tax expense in the third quarter of 2020 as it was able to utilize its available net operating losses ("NOL") carried forward from prior periods of approximately $13,746,391 as of December 31, 2019.

Operational Results

During the third quarter of 2020, all carbon production continued to be idled due to the disruptions related to the global COVID-19 pandemic. As previously stated, the Company instead shifted its primary focus on increasing efficiencies, readying Perry County Resources to be brought back online, reducing its long-term cost structure, monetizing non-core assets and advancing environmental reclamation.

Mr. Jensen reiterated, "During the third quarter, our carbon production and processing operation remained idle due to the COVID-19 related market disruptions and to ensure the safety of our workers. Enabled by our low corporate overhead and our dedication to not waste valuable resources, we continued to focus on improving our operations, advancing environmental reclamation and scaling our American Metals business during this market disruption, which we believe will drive significant long-term value for our shareholders. As carbon markets began to stabilize, we were able to secure 2021 baseload contracts for Perry County Resources and are in the final stages of preparing to bring the complex back online in the fourth quarter. Furthermore, with the infusion of additional capital, along with a first-class operational team behind a premier asset such as Perry County, we are in a position of strength to ensure a smooth and rapid ramp."

The exhibit below summarizes some of the key sales, production and financial metrics:

 
Three month ended
 
 
Three month ended
 

 
September 30,
 
 
June 30,
 
 
September 30,
 

 
2020
 
 
2020
 
 
2019
 

Sales Volume (a)

Tons Sold

 
 
–
 
 
 
–
 
 
 
25,969
 

Company Production (a)

McCoy Elkhorn Coal

 
 
–
 
 
 
–
 
 
 
11,180
 

Perry County Resources

 
 
–
 
 
 
–
 
 
 
–
 

Deane Mining

 
 
–
 
 
 
–
 
 
 
14,789
 

Total

 
 
–
 
 
 
–
 
 
 
25,969
 

Company Financial Metrics(b)

Revenue per Ton

 
 
–
 
 
 
–
 
 
 
71.13
 

Cash Cost per Ton Sold (c)

 
 
–
 
 
 
–
 
 
 
113.84
 

Cash Margin per Ton (c)

 
 
–
 
 
 
–
 
 
 
(42.71
)

Development Costs

 
$
792,926
 
 
$
307,247
 
 
 
1,425,024
 

Notes:
(a) In short tons
(b) Excludes transportation
(c) Cash cost per ton is based on reported cost of sales and includes items such as production taxes, royalties, labor, fuel, and other similar production and sales cost items, and may be adjusted for other items that, pursuant to GAAP, are classified in the Statement of Operations as costs other than cost of sales, but relate directly to the cost incurred to produce coal. Our cash cost of sales per short ton is calculated as cash cost of sales divided by short tons sold, and our cash margin per ton is calculated by subtracting cash cost per ton from revenue per ton. Cash cost of sales per short ton and average cash margin per ton are non-GAAP financial measure which are calculated in conformity with U.S. GAAP and should be considered supplemental to, and not as a substitute or superior to financial measures calculated in conformity with GAAP. We believe cash cost of sales per ton and average cash margin per ton are useful measurse of performance as it aides some investors and analysts in comparing us against other companies. Cash cost of sales per ton and margin per ton may not be comparable to similarly titled measures used by other companies.

AMERICAN RESOURCES CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED

Three Months

September 30,

2020

Three Months

September 30,

2019

Nine Months

September 30,

2020

Nine Months

September 30,

2019

Coal Sales

 
$
–
 
 
$
1,847,279
 
 
$
524,334
 
 
$
18,162,805
 

Metal Aggregating, Processing and Sales

 
 
294,646
 
 
 
–
 
 
 
521,482
 
 
 
–
 

Processing Services Income

 
 
–
 
 
 
–
 
 
 
–
 
 
 
20,876
 

Total Revenue

 
 
294,646
 
 
 
1,847,279
 
 
 
1,045,816
 
 
 
18,183,681
 

Cost of Coal Sales and Processing

 
 
(72,692
)
 
 
(2,956,306
)
 
 
(2,590,435
)
 
 
(15,254,961
)

Accretion Expense

 
 
(240,685
)
 
 
(320,900
)
 
 
(981,859
)
 
 
(962,699
)

Depreciation

 
 
(646,438
)
 
 
(1,414,942
)
 
 
(1,855,236
)
 
 
(3,036,747
)

Amortization of mining rights

 
 
(313,224
)
 
 
(252,729
)
 
 
(939,672
)
 
 
(1,592,110
)

General and Administrative

 
 
(132,676
)
 
 
(1,434,545
)
 
 
(1,659,908
)
 
 
(3,798,051
)

Professional Fees

 
 
(175,832
)
 
 
(170,937
)
 
 
(686,158
)
 
 
(5,136,767
)

Production Taxes and Royalties

 
 
(154,604
)
 
 
(948,148
)
 
 
(404,660
)
 
 
(2,811,691
)

Development Costs

 
 
(792,926
)
 
 
(1,425,024
)
 
 
(1,228,333
)
 
 
(5,912,589
)

Total Operating Expenses

 
 
(2,529,078
)
 
 
(8,923,531
)
 
 
(10,346,261
)
 
 
(38,505,615
)

Net Loss from Operations

 
 
(2,234,432
)
 
 
(7,076,252
)
 
 
(9,300,445
)
 
 
(20,321,934
)

Other Income

 
 
160,635
 
 
 
770,405
 
 
 
(153,544
)
 
 
1,251,359
 

Gain on interest forgiven

 
 
832,500
 
 
 
–
 
 
 
832,500
 
 
 
–
 

Gain on Depreciation Recapture

 
 
1,706,569
 
 
 
–
 
 
 
1,706,569
 
 
 
–
 

Gain on sale of stock

 
 
–
 
 
 
–
 
 
 
6,820,949
 
 
 
–
 

Loss on settlement of payable

 
 
–
 
 
 
–
 
 
 
 
 
 
 
(22,660
)

Amortization of debt discount and issuance costs

 
 
(2,879
)
 
 
(219,218
)
 
 
(8,637
)
 
 
(7,722,197
)

Interest Income

 
 
41,172
 
 
 
82,343
 
 
 
164,686
 
 
 
164,686
 

Warrant Modification Expense

 
 
–
 
 
 
–
 
 
 
–
 
 
 
(2,545,360
)

Interest expense

 
 
(379,583
)
 
 
(901,810
)
 
 
(1,891,226
)
 
 
(1,674,653
)

Total Other income (expense)

 
 
2,358,413
 
 
 
(268,280
)
 
 
7,471,297
 
 
 
(10,548,825
)

Net Income (Loss)

 
 
123,982
 
 
 
(7,344,532
)
 
 
(1,829,148
)
 
 
(30,870,759
)

Net loss per common share – basic and diluted

 
$
0.00
 
 
$
(0.30
)
 
$
(0.07
)
 
$
(1.34
)

Weighted average common shares outstanding

 
 
26,785,364
 
 
 
24,886,763
 
 
 
27,009,075
 
 
 
23,025,762
 

AMERICAN RESOURCES CORPORATION
CONSOLIDATED BALANCE SHEETS
UNAUDITED

September 30,

2020

December 31,

2019

 
ASSETS
 

CURRENT ASSETS

Cash

 
$
753,910
 
 
$
3,324
 

Accounts Receivable

 
 
46,150
 
 
 
2,424,905
 

Inventory

 
 
150,503
 
 
 
515,630
 

Prepaid fees

 
 
175,000
 
 
 
–
 

Accounts Receivable – Other

 
 
234,240
 
 
 
234,240
 

Total Current Assets

 
 
1,359,803
 
 
 
3,178,099
 

OTHER ASSETS

Cash – restricted

 
 
637,806
 
 
 
265,487
 

Processing and rail facility

 
 
11,591,273
 
 
 
12,723,163
 

Underground equipment

 
 
6,838,417
 
 
 
8,294,188
 

Surface equipment

 
 
2,527,576
 
 
 
3,224,896
 

Acquired mining rights

 
 
561,575
 
 
 
669,860
 

Coal refuse storage

 
 
12,134,192
 
 
 
12,171,271
 

Less Accumulated Depreciation

 
 
(11,971,657
)
 
 
(11,162,622
)

Land

 
 
1,572,435
 
 
 
1,748,169
 

Note Receivable

 
 
4,117,139
 
 
 
4,117,139
 

Total Other Assets

 
 
28,008,756
 
 
 
32,051,551
 

TOTAL ASSETS

 
$
29,368,559
 
 
$
35,229,650
 

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
 
 

CURRENT LIABILITIES

Accounts payable and accrued liabilities

 
$
5,640,915
 
 
$
6,604,134
 

Accounts payable – nontrade

 
 
4,012,674
 
 
 
4,440,345
 

Accounts payable – related party

 
 
979,146
 
 
 
718,156
 

Accrued interest

 
 
573,526
 
 
 
2,869,763
 

Due to affiliate

 
 
74,000
 
 
 
132,639
 

Current portion of long term-debt (net of issuance costs and debt discount of $0 and $134,296)

 
 
12,469,374
 
 
 
20,494,589
 

Current portion of convertible debt

 
 
–
 
 
 
7,419,612
 

Current portion of reclamation liability

 
 
2,327,169
 
 
 
2,327,169
 

Total Current Liabilities

 
 
26,076,804
 
 
 
45,006,407
 

OTHER LIABILITIES

Long-term portion of note payable (net of issuance costs of $408,546 and $417,183)

 
 
4,734,639
 
 
 
5,415,271
 

Convertible note payables – long term

 
 
16,911,548
 
 
 
–
 

Reclamation liability

 
 
15,222,499
 
 
 
17,512,613
 

Total Other Liabilities

 
 
36,868,686
 
 
 
22,927,884
 

Total Liabilities

 
 
62,945,490
 
 
 
67,934,291
 

STOCKHOLDERS' EQUITY (DEFICIT)

AREC – Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 28,400,512 and 27,410,512 shares issued and outstanding, respectively

 
 
2,839
 
 
 
2,740
 

AREC – Series A Preferred stock: $.0001 par value; 5,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively

 
 
–
 
 
 
–
 

AREC – Series C Preferred stock: $.001 par value; 20,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively

 
 
–
 
 
 
–
 

Additional paid-in capital

 
 
91,397,889
 
 
 
90,326,104
 

Accumulated deficit

 
 
(124,977,659
)
 
 
(123,033,485
)

Total American Resources Corporation's Stockholders' Equity (Deficit)

Total Stockholders' Deficit

 
 
(33,576,931
)
 
 
(32,704,641
)

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 
$
29,368,559
 
 
$
35,229,650
 

AMERICAN RESOURCES CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
UNAUDITED

For the Nine

Months

September 30,

2020

For the Nine

Months

September 30,

2019

Cash Flows from Operating activities:

Net loss

 
$
(1,829,148
)
 
$
(30,870,759
)

Adjustments to reconcile loss to net cash

Depreciation

 
 
1,855,236
 
 
 
3,036,747
 

Amortization of mining rights

 
 
939,672
 
 
 
1,592,110
 

Accretion expense

 
 
981,859
 
 
 
962,699
 

Cancelation of debt

 
 
–
 
 
 
–
 

Liabilities reduced due to sale of assets

 
 
(3,271,973
)
 
 
–
 

Recovery of previously impaired receipts

 
 
–
 
 
 
(50,806
)

Amortization of debt discount

 
 
–
 
 
 
7,722,197
 

Warrant expense

 
 
230,050
 
 
 
2,528,598
 

Warrant modification expense

 
 
–
 
 
 
2,545,360
 

Option expense

 
 
–
 
 
 
245,356
 

Issuance of common shares for services

 
 
18,800
 
 
 
1,806,040
 

Issuance of common shares for debt settlement

 
 
642,060
 
 
 
–
 

Return of common shares for property sale

 
 
(1,840,200
)
 
 
–
 

Change in current assets and liabilities:

Accounts receivable

 
 
2,378,755
 
 
 
1,300,654
 

Inventory

 
 
365,126
 
 
 
(840,526
)

Prepaid expenses and other assets

 
 
(175,000
)
 
 
(335,174
)

Accounts payable

 
 
(303,567
)
 
 
(2,274,582
 

Funds held for others

 
 
–
 
 
 
(79,662
)

Due to affiliates

 
 
202,351
 
 
 
164,526
 

Accrued interest

 
 
(2,296,237
)
 
 
858,406
 

Cash used in operating activities

 
 
(2,102,216
)
 
 
(11,688,816
)

Cash Flows from Investing activities:

Cash paid for PPE, net

 
 
–
 
 
 
(327,250
)

Cash received in asset acquisitions, net

 
 
417,857
 
 
 
650,000
 

Cash provided by (used in) investing activities

 
 
417,857
 
 
 
322,750
 

Cash Flows from Financing activities:

Principal payments on long term debt

 
 
(1,072,745
)
 
 
(2,548,111
)

Proceeds from long term debt

 
 
28,000
 
 
 
5,139,399
 

Proceeds from convertible debt

 
 
3,638,277
 
 
 
399,980
 

Proceeds from related party

 
 
–
 
 
 
8,639
 

Issuance of warrants in conjunction with convertible notes

 
 
1,223,700
 
 
 
–
 

Net proceeds from (payments to) factoring agreement

 
 
(1,807,443
)
 
 
(1,087,413
)

Sale of common stock for cash in connection with public offering

 
 
–
 
 
 
4,354,000
 

Sale of common stock for cash issued with warrants in connection with public offering

 
 
–
 
 
 
3,409,600
 

Sale of common stock in connection with warrant conversions

 
 
797,475
 
 
 
–
 

Cash provided by financing activities

 
 
2,807,264
 
 
 
9,676,094
 

Increase (Decrease) in cash and restricted cash

 
 
1,122,905
 
 
 
(1,689,972
)

Cash and restricted cash, beginning of period

 
 
268,811
 
 
 
2,704,799
 

Cash and restricted cash, end of period

 
$
1,391,716
 
 
$
1,014,827
 

Supplemental Information

Cash paid for interest

 
$
208,154
 
 
$
389,437
 

Cash paid for income taxes

 
$
–
 
 
$
–
 

Non-cash investing and financing activities

Shares issued in asset acquisition

 
$
–
 
 
$
24,400,000
 

Assumption of net assets and liabilities for asset acquisitions

 
$
–
 
 
$
8,787,748
 

Issuance of warrants in conjunction with convertible notes

 
$
1,223,700
 
 
$
–
 

Conversion of accounts payable into common shares

 
$
–
 
 
$
231,661
 

Beneficial Conversion Feature on note payable due to modification

 
$
–
 
 
$
7,362,925
 

Shares issued in connection with note payable

 
$
–
 
 
$
297,831
 

Conversion of Series A Preferred into common shares

 
$
–
 
 
$
161
 

Conversion of Series C Preferred into common shares

 
$
–
 
 
$
1
 

Return of shares related to employee settlement

 
$
–
 
 
$
11
 

Warrant exercise for common shares

 
$
–
 
 
$
60
 

Reconciliation of Non-GAAP Measures
Reconciliation of Adjusted EBITDA to Amounts Reported Under U.S. GAAP

 
For the three months ended September 30, 2020
 
 
For the three months ended September 30, 2019
 

Net Income

 
 
123,982
 
 
 
(7,344,533
)

Interest & Other Expenses

 
 
379,583
 
 
 
1,121,030
 

Income Tax Expense

 
 
–
 
 
 
–
 

Accretion Expense

 
 
240,685
 
 
 
320,900
 

Depreciation

 
 
646,438
 
 
 
1,414,942
 

Amortization of Mining Rights

 
 
313,224
 
 
 
252,728
 

Amortization of Dedt Discount & Issuance

 
 
2,879
 
 
 
219,218
 

Non-Cash Stock Options

 
 
–
 
 
 
–
 

Non-Cash Warrant Expense

 
 
142,296
 
 
 
–
 

Non-Cash Share Comp. Expense

 
 
101,615
 
 
 
138,857
 

Development Costs

 
 
792,926
 
 
 
1,425,024
 

PCR Restructuring Expenses

 
 
66,275
 
 
 
–
 

Total Adjustments

 
 
2,685,921
 
 
 
4,892,699
 

Adjusted EBITDA

 
 
2,809,903
 
 
 
(2,451,834
)

About American Resources Corporation

American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.

American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.

Special Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

PR Contact:

Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co

Investor Contact:

JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com

Company Contact:

Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com

SOURCE: American Resources Corporation

ReleaseID: 613474

The research will be led by Prof. Dr. Gerhard Gründer, the only confirmed scientist developing a study to work with psychedelics in Germany since the 1970s

VANCOUVER, BC / ACCESSWIRE / October 30, 2020 / Havn Life Sciences Inc. (CNSX:HAVN)(FSE:5NP) (the "Company" or "Havn Life"), a biotechnology company focused on unlocking human potential using evidence-informed research and developing standardized psychoactive compounds derived from plants and fungi, is pleased to announce it has signed on to support ground-breaking research with the MIND Foundation on a study on depression and psilocybin.

Havn Life is donating $20,000 to support this research, which will be the first psilocybin depression study in Germany since the 1970s.

"Like us, the MIND Foundation is focused on contributing to education and to the normalization of psychedelics," said Tim Moore, Havn Life CEO. "This psilocybin study in Europe will add to the global body of research, which is an essential part of moving this industry forward and developing a new generation of medicine. The Havn Life team intends to continue to identify research that's being conducted around the world, the Company believes it's paramount to support research as the industry evolves. "

The MIND Foundation is a non-profit in Berlin that promotes psychedelic research and educates professionals and the public about psychedelic treatments, integration, evidence-based harm reduction, and human development. Their work builds on the neurobiological and psychological potential of psychedelics to improve mental health and well-being in a clinical setting.

The planned psilocybin depression study has been initiated and is being led by principal investigator Prof. Dr. Gerhard Gründer at the Central Institute of Mental Health Mannheim, where he serves as head of the Molecular Neuroimaging Department. The study aims to investigate the safety and efficacy of psilocybin administered under supportive conditions in a controlled, randomized, double-blind design.

Prof. Dr. Gründer is currently the only scientist in Germany that is planning clinical research with psychedelics. He is a leading expert in his field, having conducted 30 years of psychiatric research on mental health disorders and addiction.

"Such a study can pave the way for future phase III studies and regulatory approval of this drug for standard treatment." said Prof. Dr. Gründer.

For the study, Prof. Dr. Gründer is working together with groups from the Charité Universitätsmedizin Berlin, Central Institute of Mental Health Mannheim, and the MIND Foundation, which has a team of over 20 scientists from around the world on its advisory board.

The study is expected to be approved within the next month by the ethics committee and the Federal Institute for Drugs and Medical Devices in Germany.

On Behalf of The Board of Directors
Tim Moore
Chief Executive Officer

About Havn Life Sciences Inc.

Havn Life Sciences is a biotechnology company on a mission to unlock human potential using evidence-informed research. The Company is focused on standardized, quality-controlled extraction of psychoactive compounds from plants and fungi, and the development of natural health care products from non-regulated compounds. Learn more at: havnlife.com and follow us on Facebook, Twitter and Instagram.

Contact:

Investor Relations: ir@havnlife.com 604 687 7130
Media: brittany@exvera.com 778 238 6096

Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company's business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release.

The CSE has not reviewed, approved or disapproved the content of this press release

SOURCE: Havn Life Sciences Inc. 

ReleaseID: 613428

BEIJING, CHINA / ACCESSWIRE / October 30, 2020 / In golden October when laurel flowers spread their fragrance far and wide, the highly expected 2021 Chinese Xin Chou Year(Year of the Ox) Gold and Silver Commemorative Coins Exhibit opens grandly in the morning of 15th at the Temple of Agriculture in Beijing. Chen Kaixing, Secretary of the Party Committee and Director of New Media Center of Xinhua News Agency, China Gold Coin Incorporation Chairman Mu Shangang, Board Member Yao Yuanjun and Wang An, Vice President Chen Wenxiong and Shao Junzhi, Ha Jun, Deputy Inspector of Beijing Municipal Administration of Cultural Heritage, Curator of Beijing Municipal Museum of Ancient Architecture Li Yongquan, Director of Collection and Custody Department of China Numismatic Museum Wang Jijie, Research Scholar of the Forbidden City Lou Xu, China-famous painter and designer of the commemorative coins Liu Zhong, CEO of the Financial Marketing Department of China Minsheng Bank, Vice Manager of Personal Finance Department of Postal Savings Bank of China Zhao Xiaodan, Assistant General Manager of Personal Digital Finance Department of Bank of China Wan Fei, General Manager of Beijing Caishikou Department Store Company Wang Chunli, General Manager of Shandong Qiquan Culture Chen Junren, China Gold Coin's subsidiaries, their relevant departments and the heads of the subsidiaries, representatives of the banks and the licensed retailers, and media such as Xinhua News Agency, CCTV and People's Daily all attended this event.

The culture of Chinese zodiac animals, which hold rich meanings, can be traced back to the ancient times. In order to promote this brilliant traditional Chinese culture, the People's Bank of China launched a project of Chinese zodiac animal precious metal commemorative coins, which received positive social responses after sale. The ancient China emerged from agriculture, so the agricultural genes pass in its national culture. Shuo Shu records that "celestial movement originates from the star of cowboy". The ox has been valued for thousands of years in the history of agriculture and the culture of it become an important part of the agricultural Chinese culture, which is a treasure that should be inherited by the Chinese nation continuously.

Deputy Inspector Ha Jun, Director Chen Kaixing and Chairman Mu Shangang unveil the 2021 Chinese Xin Chou Year(Year of the Ox) Gold and Silver Commemorative Coins together

According to the 2020 issuance announcement by the central bank, a set of 15 commemorative coins are issued in total, including 9 Commemorative Gold Coins and 6 Commemorative Silver Coins, all of which are legal tender of the PRC.

All obverse designs feature the national emblem with the title of PRC and the year date. There are 8 reverse designs: a decorative image of an ox head adorned with decorative patterns, a realistic image of an ox head, a decorative image of an ox adorned with decorative patterns, a realistic image of an ox adorned with a tree and mountains in the background, a decorative image of an ox adorned with sunflowers diagram (selective color), a decorative image of an ox, a decorative image of an ox adorned with auspicious patterns (selective color) and a decorative image of an ox adorned with decorative patterns (selective color). Each is engraved with its face value and the words"Xin Chou" in Chinese characters.

As one of the symbols carriers of Chinese auspicious folkways culture, the Commemorative Gold and Silver Coins of Chinese zodiac animals bear the people's hope for an auspicious and wonderful life. In a national history of five thousand years, the culture of Chinese zodiac animals evolves continuously. On the course of that, the images and connotation of the Chinese zodiac animals are endowed with aesthetics of the times. This set of Commemorative Coins mix the modernity and abstractness, with peace and vigor in contrast, appealing visually in every aspect. In addition to the exquisite minting technology that highlights their artistic value and collection value, they give a brand-new expectation to 2021 the year of the ox. As a star program, the Commemorative Gold and Silver Coins of Chinese zodiac animals, in richness and variation, has played an important role in spreading the culture of Chinese zodiac animals.

At the exhibit, Lou Xu, Research Scholar of the Forbidden City, explained the Chinese nation's long history of Gonggeng culture in simple terms, fully praised the issue of the ox commemorative coins, and highly recognized its role in inheriting Chinese zodiac animals and Gonggeng culture.

Research Scholar of the Forbidden City Lou Xu illustrates Chinese Gonggeng Culture

Designer of the commemorative coins Liu Zhong shared his unique design concept combining his personal experience, expressing the spirit of "kids' ox", singing the new era and profiling the Chinese workers with the image of the ox.

Famous Chinese painter (one of the designers of the ox commemorative coins) Liu Zhong shares his concept of designing the ox commemorative coins

Director of Collection and Custody Department of China Numismatic Museum Wang Jijie demonstrated the ox culture in the long history of numismatics in detail. The culture of zodiac animals carried by the coins has gone through illustration of countless generations of Chinese people, and has become a classic cultural symbol that is condensed on the coin, gifting the commemorative coins with more profound values in culture and collection. The guest answered keen audience many times and won bursts of applause.

Director of Collection and Custody Department of China Numismatic Museum Wang Jijie demonstrates the ox culture in the long history of numismatics

2021 Chinese Xin Chou Year(Year of the Ox) Gold and Silver Commemorative Coins are wonderfully on exhibit

Ox Commemorative Gold and Silver Coins issued in the past years and other commemorative or ancient coins with the image of the ox

At the exhibit, China Gold Coin Incorporation also displayed the Commemorative Gold and Silver Coins issued in the past ox years. This fully presents the profoundness and extensiveness of the Chinese culture of zodiac animals. Meanwhile it explains the intention of the People's Bank of China of promoting and inheriting that culture. At the event, journalists and guests visited and enjoyed the exhibits together.

China Gold Coin Incorporation, directly affiliated to the People's Bank of China, is the one and only company that operates in the industry of precious metal commemorative coins, performing the function of issuing and selling precious metal coins. The Commemorative Gold and Silver Coins of 2021 Chinese Xin Chou Year(Year of the Ox) are solely distributed by China Gold Coin Incorporation, with commercial banks and licensed retailers as sub-distributors all over the country. For detailed sales information, please visit the official website of China Gold Coin (www.chngc.net/qd).

Contact:

Company Name: China Gold Coin Incorporation
Contact Person: Jiang Li
Email: service@chngc.net
Country: China
Website: http://www.chngc.net/

SOURCE: China Gold Coin Incorporation

ReleaseID: 613524

VANCOUVER, BC / ACCESSWIRE / October 30, 2020 / PowerBand Solutions Inc. (TSXV:PBX)(OTCQB:PWWBF)(FSE:1ZVA) ("PowerBand", "PBX" or the "Company") is pleased to announce that Kevin Wilks, an experienced and proven senior leader in the automotive captive finance industry, has been appointed National Sales Manager for DRIVRZ US, LLC ("DRIVRZ").

In his role as National Sales Manager and advisor, Kevin will oversee sales and business development for both PowerBand's virtual transaction platform, DRIVRZ, as well as D&P Holdings, Inc., a strategic investor in PowerBand that is a national insurance administrator offering a wide variety of vehicle finance and insurance products.

Some of Kevin's former roles include: Senior Dealer Relationship Manager/L.A. Metro Market with Mercedes-Benz Financial Services ("MBFS"), where he managed all financial services and Mercedes-Benz dealer relationships in the largest volume MBFS market in the nation.

"PowerBand's virtual transaction platform – DRIVRZ – is a game-changer for automotive dealers, both for drivers and automotive dealers," said Wilks. "I look forward to bringing this innovation to consumers across the U.S."

PowerBand's virtual transaction platform is now available in 14 states with a population of more than 200 million people. The platform allows drivers and dealers to use smart phones, tablets and other digital devices to buy, sell, lease and trade vehicles as easily as buying a product on Amazon.

"Kevin is another senior appointment to PowerBand's management and advisory team who are proven leaders and innovators in the automotive sector," said PowerBand CEO Kelly Jennings. "Kevin will be crucial to introducing DRIVRZ to consumers and automotive dealerships across the U.S."

Kevin's MBFS accomplishments include the creation, development and launch of numerous initiatives designed to minimize consumer fraud, maximize customer/dealer brand loyalty, as well as supporting the development and initial field testing and launch of the MBFS eContracting Initiative.

Kevin began his automotive financial services career with Volvo Finance North America, where he progressed through several high-profile roles including Mid-Atlantic Regional Manager, National Lease Portfolio Manager, Western Zone Manager and VFNA Brand Director.

About PowerBand Solutions Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, funders and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smart phones or any other online digital devices, from any location. PowerBand's transaction platform – being trademarked under DRIVRZ – is being made available across North American and global markets.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

For further information, please contact:
Richard Goldman,
VP Corporate Development
P: 1-866-768-7653
rgoldman@powerbandsolutions.com

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

SOURCE: PowerBand Solutions Inc.

ReleaseID: 613441

TORONTO, ON / ACCESSWIRE / October 30, 2020 / Woori BMO Group has today commented on Chinese fintech giant Lufax Holding Ltd. as they raise $2.4 billion in a U.S. initial public offering which was priced at the top of its indicative range.

"Lufax sold 175 million American depositary shares at $13.50 apiece," commented Christian Harper, Director of EMEA Wealth Management at Woori BMO Group. "The amount raised makes the offering one of the biggest IPOs by a Chinese company in the U.S. this year," he added.

The business, controlled by China's largest insurer Ping An Insurance, marketed its American depositary shares at $11.50 to $13.50 apiece. Two ADS represents one regular share.

Originally launched as a peer-to-peer lending platform in 2011, Lufax has now evolved into a popular online wealth manager that facilitates loans from banks to retail borrowers, including small business owners.

According to researchers at Woori BMO Group, three years ago, Chinese authorities initiated a widespread crackdown on the unruly peer-to-peer industry, which forced Lufax to reinvent its business. In 2019, the company's assets under management fell by 6.1% due to "asset portfolio adjustment and restrictions on consumer finance products," Ping An said in February. Wealth management transaction volumes dropped by nearly 30%.

"In the six months to June, the company's net profits amounted to just over $1 billion, on a total income of $3.6 billion," commented Andrew Williams, Director of Institutional Equity at Woori BMO Group. "At $13.50 a share, Lufax has a valuation of $33 billion based on the outstanding shares listed in its prospectus," he added.

Lufax intends to use the IPO funds for investment in product development, sales and marketing initiatives, technology infrastructure, and acquisitions or investments, according to the company's prospectus.

Goldman Sachs, BofA Securities, UBS, HSBC and China PA Securities are the lead underwriters on the deal. Lufax shares are scheduled to begin trading Friday on the New York Stock Exchange under the ticker LU.

About Woori BMO Group

Founded in 2007, Woori BMO Group is a full-service wealth management company providing both corporate institutions and private clients a tailored financial advisory service from its retail office in Toronto, Canada.

Media Contact

Company: Woori BMO Group

Contact: Mr. Shinsato Masao, Chief Economist

Telephone: +1-647-946-8880

Email: shinsato.masao@wbginternational.com

Address: 25F Exchange Tower, 130 King Street West, Toronto, ON, Canada M5X 1E3

SOURCE: Woori BMO Group

ReleaseID: 613521

NEW YORK, NY / ACCESSWIRE / October 30, 2020 / Email deliverability is a growing concern for many that actively engage in email campaigns. High bounce rates occur when sending to email addresses that are not valid. Too many bounces cause the sender's email to get spam filtered, thus, never making it to the intended receiver's inbox. Less emails delivered to the inbox, means far less results campaign results. Hunter.io's email verifier tool helps eliminate bounced emails.

Hunter connects you with the people that matter for your business. Image Credit: 123RF.com / Melpomen.

Hunter Email Finder Overview

Hunter (hunter.io) allows you to find email addresses in seconds and connect with the people that matter for your business. Along with the email addresses, you can get the names, job titles, social networks and phone numbers. All the data has public sources detailed in the search results.

Founded in 2015 by Francois Grante and Antoine Finkelstein, their mission is to give professionals the power to create new connections with the people that matter. Hunter is used by 2,000,000+ professionals and chosen by leading companies to build more connections and grow their business.

Social media accounts include: Twitter @EmailHunter, Facebook @EmailHunter.co, Linkedin @hunterio, and others, including Hunter YouTube videos. The social hashtag commonly used is #Hunter or #Hunterio.

Hunter lets you find email addresses in seconds. Image Credit: Hunter.io.

Hunter Google Chrome Extension

There is a Hunter Google Chrome extension plugin available to download and install from the Google Chrome web store.

Titled "Hunter: Find email addresses in seconds" and listed under the "Search Tools" category, Hunter has over 12,166 user reviews rating it 4.7 out of 5 stars on average. It also shows 400,000+ users of the Hunter plugin. With Hunter for Chrome, you can immediately find who to contact when you visit a website.

Hunter plugin from the chrome web store. Image Credit: Google Chrome.

Hunter Email Finder Products and Solutions

Hunter key features includes:

Domain Search: The Domain Search is perfect to quickly find who to contact in a business. In half a second, it lists the email addresses publicly available on the web, with confidence scores, department filters and detailed sources.

Email Finder: The Email Finder is all you need to connect with any professional. It puts data together in all email formats, email addresses found on the web, verifications and other signals, to find the right contact information in seconds.

Email Verifier: Hunter designed the Email Verifier to be as complete as possible, with validations made at multiple levels: format, domain information, response of the mail servers and comparison with their unique base of 100+ million professional email addresses.

Bulk tasks: Search or verify lists of email addresses in minutes with the powerful bulk tasks.

Campaigns: Compose, personalize and schedule follow-ups. Sent from your Gmail account.

The Top Best Hunter Alternatives

These are some of the top alternatives to Hunter for productivity contact finding tools for uncovering email addresses and cell phone numbers. Hunter was also ranked along with Swordfish AI and ZoomInfo in the Best Contact Finder Tools list.

Swordfish AI (swordfish.ai)
ZoomInfo (zoominfo.com)
DiscoverOrg (discoverorg.com)
Lusha (lusha.co)
ContactOut (contactout.com)
UpLead (uplead.com)
Clearbit (clearbit.com)
Voila Norbert (voilanorbert.com)

Hunter Review in Contact Finder

Hunter Review in Contact Finder magazine. Image Credit: Contact Finder.

Hunter.io Email Finder Tutorial Video

Video of Hunter from YouTube channel.

Alternatively, see Hunter's overview video directly on YouTube:  https://www.youtube.com/watch?v=Yk6cP8abn_E

About Campaign Writer™:

Campaign Writer™ is a leading sales and marketing content writing copywriting firm working with Top Professionals, Executives and Leaders in their field, to help tell their story more effectively through its Team of Award-Winning Copywriters, Wordsmiths, and Ghostwriters, for sales, marketing, public relations, direct response and email marketing campaigns. Campaign Writer is led by Chief Strategy Officer Marty Stewart.

For a strategic exploratory conversation on how your company can leverage content writing, visit https://CampaignWriter.com. Or, call toll-free +1-877-463-9777 within the United States, or +1-702-997-1222 if calling Internationally.

SOURCE: Campaign Writer

ReleaseID: 613678

TAIPEI, TAIWAN / ACCESSWIRE / October 30, 2020 / Professional editors and social media curators can allow customers to achieve KPIs quickly. Regardless of the medium used, Facebook, YouTube, Twitter, Blog… all kinds of social media require creative teams to create and maintain a reputation for the company, thereby establishing more emotional exchanges with consumers. Shirley Winslet has professional Public Relations and Chinese press release writing experience and can provide Asian customers with texts that move consumers.

Shirley Winslet used to be the chief editor and director of a public relations company. She has contact with various industries and has received the chairman of many companies, and can understand the corporate culture in a short time studied social media user psychology. She is the best candidate to connect the company and its customers. The WPR2 team warmly welcomed Shirley Winslet to join and said that the social media curatorial department is creating various advertisements for clients every day. After Shirley Winslet joins, they can write more creative and warm copywriting. WPR2 has a very outstanding Asian business team.

Why do you need an Asian editorial manager? "Social media is far-reaching. Different regions have different cultures and expressions. Shirley Winslet has received many Asian customers and can write Chinese press releases. These experiences can increase our professionalism in customer service. "The WPR2 team said.

"I am delighted to be the Asian editorial manager of WPR2. I have always maintained a reputation for clients and received VIPs at Public Relations. Next, I will work with the WPR2 team with 16 years of experience and look forward to creating performance and expanding business scale." Shirley Winslet said.

More information please visit: https://wpr2.com/

About WPR2

WPR2, an online marketing team, focused online news media and market reputation, dedicated to providing public relations services to multinational companies and private clients. We maintain customer reputation, create enterprise exposure through social media, and achieve KPIs quickly.

Contacts:

Company Name: WPR2
Email: care@wpr2.com
Telephone: +886-2-27854166
Website: https://wpr2.com/
Facebook: https://www.facebook.com/wpr2com
YouTube channel: https://www.youtube.com/channel/UCjrZ2MkzszbLVnOwcXH5hQA

SOURCE: WPR2

ReleaseID: 613612