Receivership Auction of Mafic USA LLC

ROCKINGHAM,N.C.,July 26,2023 -- On August 22,2023,Iron Horse Auction Co.,Inc. ofRockingham,NC will conduct a two-part sealed bid auction of essentially all assets of Mafic USA LLC.

The assets include a state-of-the-art 45,780 +/- sq. ft. basalt manufacturing facility on 5.09 +/- acres and an adjoining 7.59 +/- acre tract. The facility is located at 119 Metrolina Dr.,Shelby,NC 28150. Personal property included in the sale consists of all machinery & equipment related to basalt fiber production,platinum & rhodium bushings/loose metals,basalt rock inventory,and basalt fiber inventory.

The North Carolina Business Court appointed Richard S. Wright of Moon Wright & Houston,PLLC as general receiver for Mafic USA LLC on May 11,2023. The receiver retained Iron Horse to conduct an orderly liquidation process.

Will Lilly,an executive with Iron Horse states,"It is a great honor to represent the Receiver in this very important transaction. We feel the custom-tailored orderly liquidation process is a rare opportunity to purchase a basalt plant that could be put in operation much faster than a startup project. The facility is truly a state-of-the-art basalt fiber manufacturing facility that has already gained the interest of international parties active in the industry."

For further information about the sale process,go to ironhorseauction.com/auction/mafic-68144/details or call: 800-997-2248.

For interviews,contact:

Will Lilly +1-704-985-9300 or

will@ironhorseauction.com

Iron Horse Auction Company,Inc.

174 Airport Road

Rockingham,NC 28379

910-997-2248

www.ironhorseauction.com