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December 27, 2017

Lexington, KY – Rhino Resource Partners LP (“Rhino” or the “Partnership”) (OTCQB: RHNO) has been recapitalized by Colbeck Capital Management (“Colbeck”). FocalPoint Securities, LLC (“FocalPoint”) served as the exclusive investment bank to Rhino.

Headquartered in Lexington, KY, Rhino is one of the nation’s leading miners of steam and metallurgical (“met”) coal. Rhino produces coal in four of the primary coal basins in the United States, serving as a supplier to utility providers and steel producers. Rhino’s new $80 million facility refinances existing debt, fully collateralizes the Partnership’s existing letters of credit, and funds general working capital purposes. Rhino plans to utilize the facility’s delayed draw feature for potential strategic acquisitions and accretive organic growth opportunities.

Rick Boone, President and Chief Executive Officer of Rhino’s general partner, commented, “Our new three-year financing agreement provides financial stability and flexibility to grow the Partnership as we look to capitalize on strong market conditions and expand in international met coal markets. We therefore look forward to working with Colbeck to increase the value of our Partnership for our unitholders along with the continued support of our sponsor, Royal Energy Resources, Inc. (OTCQB: ROYE), and financial partner, Yorktown Partners LLC.”

Mr. Boone added, “We found FocalPoint to be very professional and supportive throughout the process of securing a new financing agreement. The FocalPoint team presented us with a variety of financing options and helped us negotiate a structure that suits our diverse needs.”

Thomas Mills, Managing Director at FocalPoint, added, “We are proud to have worked with the Rhino team on this transaction. Colbeck quickly worked through diligence to deliver on their proposal in an expedited timeframe. We are confident that they will make an excellent partner for Rhino over the next three years.”

About Rhino Resource Partners

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.

About Colbeck Capital Management

Colbeck manages a strategic lending fund with operations in New York City and Los Angeles. Colbeck’s partnership approach with entrepreneurs, management teams, and equity sponsors delivers fully-underwritten financing solutions to borrowers.

About FocalPoint Partners

FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings and special situation transactions. With offices in Los Angeles and Chicago, the firm serves middle-market clients throughout the U.S. Since its inception in 2002, FocalPoint has completed approximately $6 billion in transactions. For more information about FocalPoint Partners, visit

Please contact Thomas Mills, Managing Director, at (312) 508-5777 with any questions about this transaction.