The US Bankruptcy Court gave an order approving the sale of certain of Ormet Corporation on July 1, 2014. The debtor has been authorized to sell its mineral rights assets to Triad Hunter, LLC for a purchase price of $22.32 million in cash pursuant to the asset purchase agreement June 17, 2014. The debtor's assets include certain mineral and mining interests with respect to oil and gas.

The sale of Mineral Rights assets shall be private sale withour further bidding procedures and auction process as the bidder offered the best value of the Mineral Rights assets. The Mineral Rights assets shall be transferred to the buyer upon consummation of the transaction documents. Larry A. Levick of Singer & Levick, P.C. acted as legal advisor for Triad.