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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Affiliate of Merida Natural Resources, LLC Submits Irrevocable Bid to Acquire Kemmerer Mine out of Bankruptcy

February 14, 2019

KEMMERER, Wyo.--(BUSINESS WIRE)--Feb 14, 2019--Merida Natural Resources, LLC (“Merida”), a privately held company, announced its affiliate, Western Coal Acquisition Partners, LLC has submitted a $215 million irrevocable bid to acquire the Kemmerer coal mine, located in Lincoln County, Wyoming, and owned by Westmoreland Resource Partners, LP. The offer was submitted pursuant to the Bidding Procedures established by an Order of the United States Bankruptcy Court for the Southern District of Texas.

The bankruptcy court Sale Hearing for the sale of Kemmerer is scheduled on February 28, 2019, and if the successful bidder, Merida expects to close the purchase shortly thereafter. If acquired, Kemmerer will play a leading role as Merida’s western “Flagship” mine, as Merida continues its expansion throughout the western coal basins. Merida Chief Executive Officer, Tom Clarke, commented, “We are grateful to be a part of the process to sell the historical Kemmerer mine and, if we are the successful bidder, look forward to working with the employees, customers, and community in building a strong and stable future for Kemmerer.”

About Merida Natural Resources, LLC

Merida is owned by Tom and Ana Clarke and is affiliated with Clarke Investments, LLC, which operates investments in the mining, metals, energy, offshore construction and decommissioning, recycling, and insurance sectors. Ana Clarke was the largest shareholder of Westmoreland Coal Company common equity at the time of its bankruptcy filing.

Merida currently has minority and controlling investments in five thermal and metallurgical coal mines in Canada and the United States, producing 4.2 million tons annually. The Kemmerer mine is over 130 years old, commencing open pit mining in 1950. At one time Kemmerer was the largest open pit thermal coal mine in the world having produced over 200 million tons since opening. Kemmerer produced 4.0 million tons of coal in 2018 and currently employees 288 people.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190214005754/en/

CONTACT: Clarke Investments, LLC

Tom Clarke, 540-595-3908

KEYWORD: UNITED STATES NORTH AMERICA WYOMING

INDUSTRY KEYWORD: ENERGY COAL NATURAL RESOURCES MINING/MINERALS

SOURCE: Merida Natural Resources, LLC

Copyright Business Wire 2019.

PUB: 02/14/2019 01:05 PM/DISC: 02/14/2019 01:05 PM

http://www.businesswire.com/news/home/20190214005754/en