Mohegan Energy Trustees Acquires West Virginia Metallurgical Coal Operation from Met Resources through a $100 Million Strategic Partnership with Orion Energy Partners

PRINCETON, W. Va.–(BUSINESS WIRE)–Mohegan Energy Trustees, LLC (ÔÇ£MoheganÔÇØ), through its wholly
owned subsidiary Cornerstone Minerals, LLC (ÔÇ£CornerstoneÔÇØ),
announced today the acquisition of a low vol metallurgical coal
operation and related equipment in West Virginia from Met Resources, LLC.

Following the acquisition, Mohegan is focused on ramping-up production,
lowering costs, improving existing infrastructure, and constructing a
350 ton/hour processing plant and additional rail out facility.

CornerstoneÔÇÖs mining operations are led by Greg Jessee, Managing Partner
and Head of Operations, who is recognized in West Virginia for his
leadership of world class mining facilities and award-winning land
reclamation efforts. Rick McCormick, Managing Partner, and a renowned
global expert in coal processing techniques, will oversee MoheganÔÇÖs
commercial activities.

To fund the transaction, Mohegan has entered a strategic partnership
with Orion Energy Partners (ÔÇ£Orion EnergyÔÇØ), a New York-based
private equity firm that provides creative capital solutions to North
American middle market energy infrastructure businesses. Together with
its affiliate funds, Orion Energy is providing a $100 million facility
for the acquisition and related infrastructure investments.

ÔÇ£Our partnership with Orion Energy provides Mohegan with the long-term
strategic and financial support we need to safely and efficiently
maximize the value of our acquisition,ÔÇØ said Rick McCormick, MoheganÔÇÖs
Managing Partner.

ÔÇ£MoheganÔÇÖs management is well positioned to implement industry leading
extraction and polishing techniques and assure exceptional performance
during this critical time of rising metallurgical demand,ÔÇØ said Gerrit
Nicholas, Co-Founder and Managing Partner of Orion Energy. ÔÇ£Orion Energy
expects to quickly deploy the $100 million facility to support the
modernization and expansion of the Mohegan mines to maximize production
while assuring the highest quality and safest operational practices.
WeÔÇÖre pleased to be partnering with metallurgical coalÔÇÖs premiere
operating team, and look forward to a prosperous and collaborative
relationship.ÔÇØ

Flaherty Sensabaugh Bonasso PLLC and Jackson Kelly PLLC acted as legal
counsel and Riverside Management Group, LLC of Westport, CT acted as
sole financial advisor to Mohegan.

Latham & Watkins LLP and Bowles Rice LLP acted as legal counsel to Orion
Energy.

About Mohegan Energy Trustees

Mohegan is a newly formed, private company that responsibly and
efficiently operates a low vol metallurgical coal operation in West
Virginia. Following its acquisition of Cornerstone, Mohegan is focused
on ramping-up production, lowering costs, and improving existing
infrastructure.

About Orion Energy Partners

Orion Energy Partners is a credit-oriented private equity firm with over
US$ 1 billion of investable capital. Orion Energy is focused on
providing creative capital solutions to middle market energy
infrastructure businesses across North America and select international
markets with a focus on downstream, midstream, conventional electric
power, renewable energy and storage, asset-heavy energy services and
other energy subsectors. Its management has substantial experience
leading successful energy companies and energy infrastructure
investments. For more information, visit www.OrionEnergyPartners.com.

Contacts

For Mohegan:
Richard McCormick
Managing Partner
[email protected]
or
For
Orion Energy:
Gerrit Nicholas
Managing Partner
[email protected]