CLIENT TRANSACTIONS

Republic Metal Corporation

Company
Republic Metals Corporation and its affiliates (collectively “RMC” or the “Company”) operate a highly respected, internationally accredited, primary precious metals refinery and mint located in Miami, Florida. The Company’s services include stone removal, diamond acquisition, vaulting, assaying, risk management and hedging. RMC also operates a state-of-the-art carbon sampling and processing facility.

Situation
In 2013, the Company invested in a new silver refinery to expand its silver production and complement its existing gold refining business. The refinery required a significant investment of capital to finance the start-up and ongoing operations, as well as to ramp up to profitability. RMC struggled with constrained liquidity and increased financial and operational complexities related to the new refinery and defaulted on its debt obligations in July 2018.

Solution
After evaluating alternatives, the Company determined that filing for Chapter 11 protection provided the best opportunity to effectuate a transaction and properly capitalize the business for future growth. SSG conducted a comprehensive marketing process that led to a stalking horse buyer, multiple bids from international strategic buyers and a competitive auction that lasted 28 rounds. Asahi Holdings, Inc.’s bid was ultimately deemed the highest and best price for substantially all of the Company’s assets. SSG’s experience in identifying buyers and running a thorough sale process enabled stakeholders to maximize value while preserving jobs.