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American Resources bolsters board with addition of financial industry executive

Layman currently serves as general partner and chief executive of Emerald Shoals Targeted Opportunities Fund LP

American Resources Corporation -
Layman previously worked for a private equity fund in New York, where he established a strong network of relationships with analysts and investment bankers

American Resources Corporation (NASDAQ:AREC) has bolstered its board with the addition of financial industry executive Michael Layman as an independent director.

In a statement on Monday, the group's CEO Mark Jensen, said he believed Layman's drive to build value for companies, along with his well-established network, would be invaluable to help American Resources grow its business.

READ: American Resources expands subsidiary American Metals and selects its Deane Mining facility in Kentucky to process metals

Layman currently serves as general partner and chief executive of Emerald Shoals Targeted Opportunities Fund LP, a hybrid growth fund backed by a network of ultra-high net worth individuals seeking novel opportunities to invest in high-growth catalyst driven companies.

Layman also became a recent significant shareholder in the firm, Jensen noted.

The company also noted that he has also served at a large top-four brokerage house where he was co-owner of a private wealth management group and was responsible for identifying attractive and undervalued investment opportunities.

Previously, it addded, Layman also worked for a private equity fund in New York where he established a strong network of relationships with analysts and investment bankers at a number of Wall Street firms.

American Resources is focused on economically delivering raw materials products to meet its customers' demands, notably, the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking.

"With the potential I believe this company will disrupt the industry and drive significant value, alongside the management team's vision and expertise, joining the board was an opportunity I couldn't pass up," Layman said.

"I look forward to closely working alongside the team and leveraging my expertise to create maximum value for American Resources, as well as its shareholders."

 Shares eased 3.34% in New York to $1.45.

Contact the author at giles@proactiveinvestors.com

Quick facts: American Resources Corporation

Price: 1.5 USD

NASDAQ:AREC
Market: NASDAQ
Market Cap: $39.38 m
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