Rhino Resource Partners LP (OTCPK:RHNO) announced that it entered into a security purchase agreement for a private placement of 60,000,000 common units at a price of $0.03333 for gross proceeds of $2,000,000 and will issue a promissory note for gross proceeds of $7,000,000 with existing investor Royal Energy Resources, Inc. on March 21, 2016. The promissory note is payable in three tranches, on July 31, 2016, the company will issue $3,000,000, on September 30, 2016, the company will issue $2,000,000, and December 31, 2016, the company will issue $2,000,000.