Canadian Premium Sand Inc. Engages Fort Capital Partners and Peters & Co. Limited as Financial Advisors and Initiates Process to Capitalize the Construction of North America’s Only Patterned Solar Glass Manufacturing Facility
February 16 2022 - 7:00AM
Canadian Premium Sand Inc. (“
CPS”
or the “
Company”) (TSXV: CPS) is pleased to
announce the initiation of a formal process to raise external
capital to fund the development and construction of its planned
solar glass manufacturing facility (the
“
Project"). This decision is supported by the
Company’s recently completed Front End Engineering and Design
(FEED) study that was prepared by an internationally recognized
specialty glass manufacturing engineering firm.
“We are delighted to initiate the process to
fund our solar glass manufacturing facility, the only of its kind
in North America,” stated Glenn Leroux, President and CEO of CPS.
“This project is expected to generate significant value for our
shareholders while making a positive impact on the environment and
in the local community.”
Project Highlights
- Solar
Glass Demand Growth
- North American
demand for solar glass is expected to grow significantly over the
next several years in order to satisfy unprecedented growth in
solar energy infrastructure expansion
-
Strategic Location
- As the only
facility of its kind in North America, the Project will alleviate
logistical challenges and dependence upon Asia Pacific glass
producers, providing solar panel manufacturers with a domestic
source of solar glass
- Low
Carbon Intensity
- The Project’s
solar glass production is expected to have the lowest carbon
intensity in the industry due to the use of renewable
hydroelectricity, its close proximity to silica sand supply and
other supply chain advantages relative to offshore
manufacturers
- Positive
Community Impact
- The Project is
expected to create 600 jobs during construction and, once
operational, over 300 full-time employment opportunities for the
City of Selkirk, surrounding communities and the communities of
Hollow Water First Nation, Seymourville and Manigotagan
- Strong
Project Economics
- Attractive
capital and operating cost profile supported by the integration of
the Company’s 100% owned silica sand supply, access to low-cost
renewable energy and the potential for future expansion that will
utilize common infrastructure
The Company has retained Fort Capital Partners
and Peters & Co. Limited as co-financial advisors to assist in
its process of capitalizing the Project. When appropriate, the
Company will provide updates on the development of the Project.
About Canadian Premium Sand Inc.The Company is
developing manufacturing capacity for ultra high-clarity solar
glass through a Company-owned facility to be located in Selkirk,
Manitoba that utilizes the high-purity, low-iron silica sand from
its wholly-owned Wanipigow quarry leases and renewable Manitoba
hydroelectricity. 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.
COMPANY CONTACT
INFORMATION:
Canadian Premium Sand Inc. |
|
Glenn Leroux |
Cam Deller |
President and Chief Executive Officer |
Chief Financial Officer |
glenn.leroux@cpsmail.com |
cam.deller@cpsmail.com |
Investor
RelationsIR@cpsmail.com587.355.3714www.cpsglass.com
FINANCIAL ADVISOR CONTACT
INFORMATION:
Fort Capital Partners |
Peters & Co. Limited |
Kyle Rookes |
Callum Moore |
Managing Partner |
Principal |
kyle.rookes@fortcapital.ca |
cmoore@petersco.com |
Forward Looking Information
Certain statements contained in this press
release constitute forward-looking statements relating to, without
limitation, expectations, intentions, plans and beliefs, including
information as to the future events, results of operations and the
Company’s future performance (both operational and financial) and
business prospects. In certain cases, forward-looking statements
can be identified by the use of words such as “expects”,
“estimates”, “forecasts”, “intends”, “anticipates”, “believes”,
“plans”, “seeks”, “projects” or variations of such words and
phrases, or state that certain actions, events or results “may” or
“will” be taken, occur or be achieved. Such forward-looking
statements reflect the Company's beliefs, estimates and opinions
regarding its future growth, results of operations, future
performance (both operational and financial), and business
prospects and opportunities at the time such statements are made,
and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or
circumstances should change. Forward-looking statements are
necessarily based upon a number of estimates and assumptions made
by the Company that are inherently subject to significant business,
economic, competitive, political and social uncertainties and
contingencies. Forward-looking statements are not guarantees of
future performance. In particular, this press release contains
forward-looking statements pertaining, but not limited, to: the
expectation that the Project will be funded and constructed and
generate significant value for shareholders and make a positive
impact on the environment and in the local community; the North
American demand growth for solar glass and solar energy
infrastructure expansion; the benefits of the Project resulting
from its location; the expected emission intensity of the Project
relative to other projects and manufacturers; the number of jobs to
be created in connection with the Project; and the anticipated
economics of the Project including having an attractive capital and
operating cost profile supported by the integration of the
Company’s 100% owned silica sand supply, access to low-cost
renewable energy and the potential for future expansion that will
utilize common infrastructure; projections about the solar glass
market; future development plans; industry activity levels;
industry conditions pertaining to the solar glass manufacturing
industry; the ability of and manner by which the Company expects to
meet its capital needs; and the Company's objectives, strategies
and competitive strengths.
By their nature, forward-looking statements
involve numerous current assumptions, known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to differ materially
from those anticipated by the Company and described in the
forward-looking statements.
The forward-looking information and statements
contained in this document speak only as of the date hereof and the
Company does not assume any obligation to publicly update or revise
them to reflect new events or circumstances, except as may be
required pursuant to applicable laws.
Market, Independent Third Party and
Industry Data
Certain market, independent third-party and
industry data contained in this press release is based upon
information from government or other independent industry
publications and reports or based on estimates derived from such
publications and reports. Government and industry publications and
reports generally indicate that they have obtained their
information from sources believed to be reliable, but the Company
has not conducted its own independent verification of such
information. This press release also includes certain data derived
from public filings made by independent third parties. While the
Company believes this data to be reliable, market and industry data
is subject to variations and cannot be verified with complete
certainty due to limits on the availability and reliability of raw
data, the voluntary nature of the data gathering process and other
limitations and uncertainties inherent in any statistical survey.
The Company has not independently verified any of the data from
independent third-party sources referred to in this press release
or ascertained the underlying assumptions relied upon by such
sources.
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