Canadian Premium Sand Inc. Announces Third Quarter 2024 Results
August 22 2024 - 5:30PM
Canadian Premium Sand Inc. (“
CPS”
or the “
Company”) (TSXV: CPS) is pleased to
announce its third quarter 2024 financial results. The Company’s
interim financial statements and notes thereto and Management’s
Discussion and Analysis for the three and nine months ended June
30, 2024, are available under CPS’s SEDAR+ profile.
Highlights
The Company devoted its time and resources
during the three-month period ended June 30, 2024, to advancing its
integrated patterned solar glass manufacturing facility in Selkirk,
Manitoba (the “Project”). Specifically, the
Company:
- Continued discussions with certain
debt and equity capital investors that have expressed interest in
financing the Project; and
- Remained engaged with both the
Province of Manitoba and the Government of Canada to progress
potential financial incentive packages.
“We look forward to securing financial incentive
packages from the Governments of Canada and Manitoba that will
enable the Company to move rapidly towards a successful financing
of the Project. The demand for patterned solar glass in North
America continues to accelerate with visibility for upwards of 65GW
of demand by 2030 which represents a 500% increase from current
levels. We remain focused on establishing North America’s first
source of patterned solar glass and to facilitating our customers’
stated goal of securing a low-risk and low-carbon solar energy
supply chain”, stated Company President & CEO, Glenn
Leroux.
About Canadian Premium Sand
Inc.
The Company is developing manufacturing capacity
for ultra high-clarity patterned 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.
CONTACT INFORMATION: |
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Canadian Premium Sand Inc. |
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Glenn Leroux |
Cam Deller |
President and Chief Executive Officer |
Chief Financial Officer |
glenn.leroux@cpsmail.com |
cam.deller@cpsmail.com |
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|
Investor Relations |
|
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IR@cpsmail.com |
|
587.355.3714 |
|
www.cpsglass.com |
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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 in 2024 and the
transition of the Company activities from development to
operational; the potential economic benefits of the Project and the
expected demand of solar energy; the anticipated market for the
Company's patterned solar glass and the ability to achieve the
goals of the Company's customers; 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.
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