VANCOUVER, British Columbia , May 03, 2018 — Select Sands Corp. (“Select Sands” or the “Company”) (TSXV:SNS) (OTCQX:SLSDF) is pleased to announce that it has secured a US$3.89 million capital expenditure line of credit (“CapEx Loan”) subject to a 5.25% annual interest rate to fund the Company’s previously announced expansion project to increase production capacity of its high quality silica sands to 1 million tons per annum to meet the growing demand of its existing client base.
Zig Vitols, President and CEO of Select Sands states, “We are very excited to secure financing for our latest expansion project. We are continuously striving to meet the growing demand from our expanding customer base and this project will be a significant step in meeting that demand while also increasing profitability of the Company.”
Based on the balance outstanding of the CapEx Loan, interest-only payments will payable during the first 6 months, after which the balance outstanding will be converted into a loan which will be repaid by way of 60 monthly payments of principal and interest payments of $74,450.00 per month.
About Select Sands Corp.
Select Sands Corp. is an industrial silica product company which owns a number of properties in Arkansas and is currently in production at its 100% owned, 520-acre Northern White, Tier-1, silica sands property located near Sandtown, Arkansas, U.S.A . Select Sands’ goal is to become a key supplier of premium industrial silica sand and frac sand to North American markets. Select Sands’ Arkansas properties have a significant logistical advantage of being significantly closer to oil and gas markets located in Oklahoma, Texas and Louisiana than sources of similar sands from the Wisconsin area.
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. The forward-looking statements in this press release relate to the expansion of the Company’s operations. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
For more information about Select Sands Corp., please visit www.selectsandscorp.com or contact:
President & CEO
Phone: (604) 639-4533
Phone: (604) 684-6730
Neither 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.