Canadian Premium Sand Inc. Announces Closing of US $1 Million Non-Brokered Private Placement
CALGARY, Alberta, July 22, 2021 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to announce that it has closed a non-brokered private placement (the "Offering"). Pursuant to the Offering, the Company issued an aggregate of 3,572,000 common shares (the "Common Shares") at a price of CAD $0.35 per Common Share for gross proceeds of CAD $1,250,200. After giving effect to the Offering, the Company will have 45,615,660 common shares issued and outstanding.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
CALGARY, Alberta, July 22, 2021 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to announce that it has closed a non-brokered private placement (the "Offering"). Pursuant to the Offering, the Company issued an aggregate of 3,572,000 common shares (the "Common Shares") at a price of CAD $0.35 per Common Share for gross proceeds of CAD $1,250,200. After giving effect to the Offering, the Company will have 45,615,660 common shares issued and outstanding.
“We are delighted to welcome Equinox Partners, a U.S. based asset manager, as a large shareholder in the Company. As a responsible steward of capital with a 25+ year track record, Equinox Partners specializes in public companies that combine value and quality,” says Glenn Leroux, President & CEO of CPS.
The Company paid no finder’s fees in connection with the Offering. The proceeds of the Offering will be used to fund key activities to progress the business plan, as well as for general working capital purposes.
The Offering is subject to the final acceptance of the TSX Venture Exchange. The Common Shares were distributed in reliance upon exemptions set forth in National Instrument 45-106 - Prospectus Exemptions. The Common Shares issued in the Offering are subject to a statutory hold period expiring November 23, 2021.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and accordingly may not be offered or sold within the United States or to “U.S. persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act (“U.S. Persons”), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
About Canadian Premium Sand Inc.
The Company is evaluating the potential for sustainable manufacturing of high clarity flat glass through a Company owned facility in the greater Winnipeg area that utilizes the high-quality silica sand from its wholly-owned Wanipigow silica sand deposit. The Company is a reporting issuer in Ontario, Alberta and British Columbia. Its shares trade on the TSXV under the symbol "CPS".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Canadian Premium Sand Inc.
Glenn Leroux
President and Chief Executive Officer
[email protected]
Investor Relations
[email protected]
587.355.3714
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the business prospects of the Company and the use of proceeds of the Offering are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements involving the use of net proceeds under the Offering, the receipt of TSXV final acceptancel for the Offering and statements regarding the Company's business plan and the timing thereof. Such statements are qualified in their entirety by the inherent risks and uncertainties in manufacturing and mining industry in general and such other factors outlined in the Company's continuous disclosure documents available on SEDAR at www.sedar.com, which are beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
