Inter-Rock Announces the Sale of Mill Creek Dolomite

TORONTO, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Inter-Rock Minerals Inc. (TSX-V: IRO) (“Inter-Rock” or the “Company”) announced today that it has sold its Oklahoma based dolomite business, Mill Creek Dolomite LLC (“Mill Creek”) to United States Lime & Minerals Inc. (“USLM”) for U.S.$6.40 million in cash, excluding Mill Creek debt and accrued interest of U.S.$2.24 million that was repaid at closing on February 9, 2022 with a portion of the proceeds of the sale in accordance with the terms of the sale agreement. After the repayment of debt and initial working capital adjustments, the Company will receive net cash of U.S.$3.53 million, subject to further working capital and other adjustments, if any.

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