American Resources’ American Infrastructure provides update on share exchange

American Resources (AREC) Corporation’s American Infrastructure has finalized its sale of AIC to CGrowth Capital. As part of the transaction, AIC is expected later this week to complete the distribution of approximately 60 million common shares and 10 million Series A Preferred shares of CGRA to its shareholders of record as of December 31, 2024. These shares represent the full equity exchange for the sale of 100% of AIC to CGrowth Capital. At the time of the transaction, American Infrastructure had 17,337,385 common shares outstanding, all of which were exchanged for a combination of Common stock and Series A Preferred Stock of CGrowth Capital. Each AIC shareholders will receive, for each common share held, 3.46073 common shares and 0.57679 Series A Preferred shares of CGrowth Capital, rounded to the nearest whole share. Each Series A Preferred share carries an initial conversion ratio of 1,256 shares of common share of CGrowth Capital.