NIAGARA Worldwide LLC entered into an asset purchase agreement to acquire aluminum smelting facility in Hannibal and real property interests from Ormet Corporation (OTCPK:ORMT.Q), Ormet Railroad Corporation, Specialty Blanks Holding Corporation, Ormet Primary Aluminum Corporation and Ormet Aluminum Mill Products Corporation(sellers) for $25.3 million in cash on June 26, 2014. Concurrent the agreement, NIAGARA Worldwide shall deposit the deposit amount of $1.6 million with Dinsmore & Shohl LLP, as escrow agent which shall be remitted to sellers at the closing as a credit against the purchase price or (2) if the agreement is terminated by sellers, the deposit amount shall be returned to NIAGARA Worldwide within two business days after any termination. NIAGARA Worldwide has sufficient cash, available lines of credit or other sources of available funds to pay the purchase price to sellers on the closing date.

The deal is subject to approval from bankruptcy court. The bankruptcy court approved the deal on July 18, 2014. Kim Martin Lewis of Dinsmore & Shohl LLP and Robert J. Dehney of Morris, Nichols, Arsht & Tunnell LLP acted as legal advisors to Ormet Corporation. Hillary Schumaker of Armstrong Teasdale LLP acted as legal advisor to NIAGARA Worldwide LLC. Toby Kreidler and Siegel of Calibre Group LLC acted as financial advisors to Ormet.

NIAGARA Worldwide LLC entered into an asset purchase agreement to acquire aluminum smelting facility in Hannibal and real property interests from Ormet Corporation (OTCPK:ORMT.Q), Ormet Railroad Corporation, Specialty Blanks Holding Corporation, Ormet Primary Aluminum Corporation and Ormet Aluminum Mill Products Corporation on August 20, 2014.