Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/royal-energy-resources-to-acquire-interests-in-rhi.shtmlRoyal Energy Resources to acquire interests in Rhino Resource Partners
Royal Energy Resources, Inc. has entered into a binding term sheet agreement with Rhino Resource Partners LP and Wexford Capital LP , whereby Royal will acquire 6,769,112 issued
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Royal Energy Resources, Inc. has entered into a binding term sheet agreement with Rhino Resource Partners LP and Wexford Capital LP , whereby Royal will acquire 6,769,112 issued and outstanding common units of Rhino currently owned by Wexford.
The binding Term Sheet also includes the acquisition by Royal at a later date of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units of Rhino currently owned by Wexford.
Pursuant to the executed binding Term Sheet, Royal and Wexford agree to negotiate definitive agreements to finalize the contemplated transactions described above no later than January 15, 2016.
