May 24, 2016 - Rhino Resource Partners LP (OTCQB: RHNO) announced that on May 13, 2016, Rhino completed an amendment with its existing creditors to extend the term of its senior secured credit facility to July 31, 2017.  Per the amendment, the credit facility will be automatically extended to December 31, 2017 if revolving credit commitments are reduced to $55 million or less on or before July 31, 2017.  The amendment immediately reduces the revolving credit commitments under the credit facility to a maximum of $75 million and maintains the amount available for letters of credit at $30 million, with further reductions to the revolving credit commitments as outlined in the amendment.  Details of the credit facility amendment are included in Rhino’s Form 8-K as well as the Partnership’s first quarter 2016 Form 10-Q, which were both filed with the Securities and Exchange Commission on May 16, 2016.  

Joe Funk, President and Chief Executive Officer of Rhino’s general partner, stated, “The amendment to our existing credit agreement provides us with the opportunity to operate the cash generating assets from our existing platform and further reduce our debt, which we were able to reduce by approximately $13 million last year despite the challenging coal market conditions.  We continue to explore new sales opportunities with the previously announced Encore Global Commodities LLC joint venture with ION Carbon & Minerals, LLC, an wholly owned subsidiary of AMCI Holdings, Inc., which we believe will increase our future cash flows.  The support provided by Royal Energy Resources, Inc. (OTCQB: ROYE) (“Royal”), the owner of our general partner and majority stakeholder in Rhino, was instrumental in the completion of this credit facility amendment and shows the long-term commitment Royal has for the Partnership.” 

About Rhino Resource Partners LP  

Rhino Resource Partners LP is a diversified energy limited partnership that is focused on coal and energy related assets and activities, including energy infrastructure investments. Rhino produces metallurgical and steam coal in a variety of basins throughout the United States and it leases coal through its Elk Horn subsidiary.