NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
August 05, 2015 – Vancouver, BC, Canada. – Select Sands Corp (TSXV: SNS, OTC: CLICF) (the “Company”) is pleased to announce that it has received subscriptions for an aggregate of 12,512,500 units (“Units”) for aggregate gross proceeds of $5.005 million pursuant to its non-brokered private placement announced July 15, 2015. Each Unit will be sold at a price of $0.40 and will be comprised of one common share of the Company and one-half of a share purchase warrant, with each whole warrant entitling the holder to purchase a further common share of the Company at a price of $0.60 for a period of 3 years after closing. The Company plans to immediately seek TSXV final approval and proceed to close the offering.
“These funds will enable us to complete the purchase of our Sandtown property, begin clearing the property to commence run of mine test production, and drill the remaining 60% of the property,” commented Select Sands CEO Rasool Mohammad. “Current industrial market demand as well as oil-and gas market demand is increasing for our high-purity finer-mesh industrial-silica products.”
The completion of the private placement and the payment of the finder’s fees remain subject to regulatory approval including that of the TSX Venture Exchange. All securities issued under the private placement will have a four-month statutory hold period from the date of issue.
About Select Sands Corp.
Select Sands Sandtown property, located in Northeast Arkansas, USA, is underlain by the Ordovician St. Peter sandstone formation, the source of ‘Ottawa White’ Tier-1 frac sand/industrial sand selling into major US oil and gas basins as well as industrial and speciality end markets. The Sandtown property is located 3.1 miles from Highway 167, near a natural gas pipeline, has an active power line on the property, and is about 14.7 miles away from the nearest rail system (See December 4, 2014 News Release). Sandtown has a competitive location advantage of 650 rail miles closer to Texas/Louisiana oil/gas plays and Houston port and industrial hub over Wisconsin sand mines.
As per Tetra Tech of Golden Colorado and Vancouver, BC, Canada, recently completed report, 40% of the Sandtown property contains 22 million tons of Indicated resources of silica sand with a pre-tax NPV valued at US $160 million (See June 10,2015 News Release).
The Company also owns high-grade gold deposits in the La Ronge Gold Belt, northern Saskatchewan.
Cameron Bartsch, M.Sc., P.Geo., of Tetra Tech, a Qualified Person as defined by National Instrument 43-101, has reviewed the scientific and technical information disclosed in this News Release.
For more information about Select Sands Corp., please visit www.selectsandscorp.com or contact Rasool Mohammad, B.Sc. (Mining), President & CEO.
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.
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. 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.