Murray Energy Corporation Posts Information to its Website Related to Murray Metallurgical
9.12.2019 18:46:00 EET | Business Wire | Press release
Beginning on December 2, 2019, Murray Energy Corporation (the “Company”) engaged in confidential discussions under separate confidentiality agreements with certain members of an ad hoc group of superpriority lenders related Murray Metallurgical Coal Holdings, LLC and its subsidiaries (collectively, “Murray Metallurgical”).
The confidentiality agreements require the Company to publicly disclose all material non-public information provided to such lenders on or prior to 8:30am (New York time) on December 9, 2019. The Company has posted certain previously undisclosed material to its website to satisfy its disclosure obligations under the confidentiality agreements. Such information can be viewed at the Investors portion of the Company’s website, located at murrayenergycorp.com/investors.
Further inquiries should be directed to media@coalsource.com.
Safe Harbor Statement
The materials referenced in this release and posted to our website include forward-looking statements. A variety of factors could cause actual results to differ materially from the expectations expressed in this release and in the materials, including (i) market demand for coal and electricity; (ii) geologic conditions, weather and other risks of coal mining that are beyond our control; (iii) claims and litigation brought against us, (iv) the coverage provided by our insurance against certain liabilities; (v) our ability to extend existing long-term coal supply agreements or enter into new agreements in the future; (vi) an increase in competition within our industry and with producers of competing energy sources; (vii) the accuracy with which we are able to estimate our coal reserves and changes in the value of our proven and probable coal reserves; (viii) availability and pricing of mining and other industrial supplies; (ix) negotiation of labor contracts, employee relations and workforce availability; (x) transportation availability, performance and costs; (xi) loss of key customers; (xii) our ability to obtain or renew surety bonds on acceptable terms; (xiii) possibility of strikes or other work stoppages at our one unionized mine; (xiv) obligations relating to benefits for retired employees and under pension plans; (xv) our ability to retain key executives and attract and retain qualified employees; (xvi) the impact of future legislation and changes in regulations, governmental policies and taxes, including those affecting permitting, mine safety and health, and land rights of mining operators and those aimed at reducing greenhouse gas emissions; (xvii) the Company’s ability to obtain approval by the United States Bankruptcy Court for the Southern District of Ohio (the “Bankruptcy Court”) of a Chapter 11 plan or any other plan of reorganization, including the treatment of the claims of the Company’s lenders and trade creditors, among others; (xviii) the Company’s ability to obtain approval with respect to motions in the Chapter 11 cases for the Murray Energy Holdings Co., the Company and its subsidiaries (collectively, the “Chapter 11 Cases”) and the Bankruptcy Court’s rulings in the Chapter 11 Cases and the outcome of the Chapter 11 Cases in general; (xix) the length of time the Company will operate under the Chapter 11 Cases; (xx) risks associated with third-party motions in the Chapter 11 Cases, which may interfere with the Company’s ability to develop and consummate a plan of reorganization; (xxi) the potential adverse effects of the Chapter 11 Cases on the Company’s liquidity, results of operations or business prospects; (xxii) the ability to execute the Company’s business and restructuring plan; (xxiii) increased legal and advisor costs related to the Chapter 11 Cases and other litigation and the inherent risks involved in a bankruptcy process.
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Contact information
Jason Witt
media@coalsource.com
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