Origin Mining Company, LLC entered into asset purchase agreement to acquire all assets of Mineral Park, Inc. and Bluefish Energy Corporation from Mercator Minerals Limited (OTCPK:MLKK.F) for $10 million in cash on January 7, 2015. $10 million will be paid in cash, plus the assumption of certain liabilities. Origin Mining will assume $9 million of environmental obligations. $1 million has been deposited in escrow. The consideration is subject to adjustments. Origin Mining is entitled to a termination fee of $0.3 million, which totals 3% of the cash or cash equivalent portion of the purchase price.

The transaction is subject to approval from bankruptcy court and assignment of leases and contracts. The transaction will close no later than January 23, 2015. All sale proceeds are to be retained by the estates of Mineral Park and Bluefish Energy pending further order of court. On January 20, 2015, the transaction was approved by a federal Bankruptcy Court.

David J. Beckman and Paul Hansen of FTI Consulting Inc. acted as advisor to Mineral Park. Evercore Group, L.L.C. acted as financial advisor and Jeremy V. Richards, Maxim B. Litvak, James E. O'Neill, Colin R. Robinson, Jeremy V. Richards and Maxim B. Litvak of Pachulski Stang Ziehl & Jones LLP acted as legal advisor to Mineral Park and Bluefish Energy. CIBC World Markets Inc acted as financial advisor and Mitchell Silk of Allen & Overy LLP acted as legal advisor to Origin Mining. Robert T. Kugler, Alisa C. Lacey and Edwin H. Caldie of Stinson Leonard Street LLP and Johanna M. Darby, Adam Hiller and Brian L. Arban of Hiller & Arban LLC acted as legal advisor to the official committee of unsecured creditors, which comprises Acton Welding Inc., Freiday Construction Inc. and ME Elecmetal. Evercore Group L.L.C. received approximately $1.13 million as advisory fee.

Origin Mining Company, LLC completed the acquisition of all assets of Mineral Park, Inc. and Bluefish Energy Corporation from Mercator Minerals Limited (OTCPK:MLKK.F) on January 20, 2015.