Ormet Corporation filed a motion in the US Bankruptcy Court for the sale of certain assets on June 18, 2014. The debtor seeks the Court's approval for the sale of certain 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.

After marketing the debtors' assets, the debtors identified Triad Hunter as submitting the highest and best offer for the mineral rights assets. The buyer has made a deposit of $2.5 million. Larry A. Levick of Singer & Levick, P.C. acted as legal advisor for Triad.

As per the notice of revised sale of certain assets for Ormet Corporation filed on July 1, 2014, there are no substantial changes in the sale.