Ramaco Resources, Inc. Announces Expansion Of Future Production With Agreement To Acquire Maben Coal Llc And Expansion Of Elk Creek Coal Preparation Plant

Ramaco Resources, Inc. (NASDAQ: METC) ("Ramaco" or the "Company") announced that it has entered into a Securities Purchase Agreement with Appleton Coal LLC to acquire 100% of the membership interests in Maben Coal LLC for an aggregate purchase price of $30 million (the "Acquisition"). The purchase price will consist of (i) $9 million to be paid in cash at closing and (ii) $21 million to be paid from the proceeds of a secured note payable to Investec Bank, PLC (the "Lender") pursuant to a vendor loan facility between the Lender and the Company. The completion of the Acquisition remains subject to customary closing conditions, including obtaining certain consents and delivery of ancillary transaction documents. The Company anticipates that the closing will occur in August. The Acquisition is anticipated to be accretive to the Company over the next 12 months.