Lexington, KY, April 20, 2015 (GLOBE NEWSWIRE) -- Rhino Resource Partners LP (NYSE: RNO) ("Rhino"
or the "Partnership") today announced a cash distribution of $0.02
per common unit, or $0.08 per unit on an annualized basis.
This distribution will be paid on May 15, 2015 to all common
unitholders of record as of the close of business on April 30, 2015
and no distribution will be paid on the subordinated units.
Joe Funk, President and Chief Executive Officer
of Rhino's general partner, stated, "The distribution reduction is
a decision made by the Board of Directors to conserve the liquidity
and cash flow of the Partnership. The prolonged weakness in
the coal markets has continued to adversely affect our cash flow
and we are taking the necessary steps to maintain the long term
value of the Partnership."
Rhino today also announced that it plans to
release its 2015 first quarter financial results on Thursday, April
30, 2015, before the market opens. In connection with the
earnings release, Rhino will host a conference call and webcast for
investors and analysts to discuss its results for the quarter on
Thursday, April 30, 2015, at 11:00 am (ET).
Participants should call 877-703-6105 (United
States/Canada) or 857-244-7304 (International) and utilize the
confirmation code 57204696. A telephonic replay will be available
for anyone unable to participate in the live call. To access the
replay, call 888-286-8010 (United States/Canada) or 617-801-6888
(International) and enter confirmation code 22871497. The recording
will be available from 3:00 pm (ET) on Thursday, April 30, 2015
through Thursday, May 7, 2015 at 11:59 p.m. (ET). A live broadcast
of the earnings conference call will also be available via the
Internet at www.rhinolp.com under 'Investor Relations'. The webcast
will be archived on the site for one year.
This press release is intended to be a qualified
notice under Treasury Regulation Section 1.1446-4(b). Brokers and
nominees should treat one hundred percent (100.0%) of Rhino's
distributions to non-U.S. investors as being attributable to income
that is effectively connected with a United States trade or
business. Accordingly, Rhino's distributions to non-U.S.
investors are subject to federal income tax withholding at the
highest applicable effective tax rate.
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 and it leases coal
through its Elk Horn subsidiary.
About Wexford Capital LP
Rhino's general partner, Rhino GP LLC, is an
affiliate of Wexford Capital LP ("Wexford"). Wexford is an
SEC registered investment advisor with approximately $3.5 billion
of assets under management. Wexford has particular expertise
in the energy/natural resources sector with actively managed
investments in coal, oil and gas exploration and production, energy
services and related sectors. Through Wexford's extensive
portfolio of energy, resource and related investments, it sees a
broad flow of potential new investment opportunities, many of which
could be suitable for Rhino. Although Wexford has no
obligation to provide such investment opportunities to Rhino, it
has made available several of these investments to Rhino and
expects to be in a position to continue to selectively source and
underwrite for Rhino new coal, energy and related investment
Additional information regarding Rhino and
Wexford is available on their respective web sites - RhinoLP.com
# # #
CONTACT: Scott Morris
Rhino Resource Partners LP