VANCOUVER, British Columbia, Sept. 04, 2018 — Select Sands Corp. (“Select Sands” or the “Company”) (TSXV: SNS | OTCQX: SLSDF), announces that it has received notice from Liberty Oilfield Services, LLC (“Liberty”) of Liberty’s intention to terminate its current frac sand supply agreement (the “Agreement”) with Select Sands. It is anticipated that such termination will take effect in late November. Although it is possible that Liberty will purchase frac sand from the Company following termination of the Agreement there are no assurances that any such relationship will continue.
Zig Vitols, Select Sands’ President and CEO, commented, “Over the past 18 months, we have worked closely with Liberty to help serve their frac sand needs and appreciate their support as we ramped up operations. Over the past year the Company has been refocusing its efforts into broadening the markets it serves and diversifying its customer base. These efforts will continue, and we look forward to further leveraging our premium product offering from our strategically located operations in Arkansas with the goal of becoming a key supplier to North American markets.”
The Company also wants to take this opportunity to provide an update on its third quarter sales volumes. At the present time it is anticipated that the Company’s sales volumes for the third quarter will be between 65,000 to 90,000 tons of frac and industrial sand. Mr. Vitols noted, “Although the expected sales volumes for the third quarter are below what the Company was anticipating, we view this as a short-term industry wide dip in demand, and we continue to build the business with a bullish long-term mindset by growing the sales team, increasing our marketing efforts, while continuing to lower our production costs.”
About Select Sands Corp.
Select Sands Corporation 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. Such statements in this release include statements relating to future supply arrangements and third quarter sales volumes. 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.
