Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to announce that due to strong demand it has agreed with Peters & Co. Limited and Fort Capital Partners (together, the “Agents”) to increase the size of the previously announced best efforts private placement financing (the “Brokered Offering”). CPS will now issue up to 28,500,000 units of the Company (each, a “Unit”) at a price of $0.30 per Unit (the “Offering Price”) for gross proceeds to the Company of up to $8,550,000 pursuant to the Brokered Offering.
In conjunction with the Brokered Offering, the Corporation will complete, on a private placement basis, a non-brokered offering of up to 3,600,000 Units at the Offering Price for gross proceeds of up to $1,080,000 to certain shareholders, officers, directors, employees, and close associates of the Corporation (the “Non-Brokered Offering”).
In all other respects, the terms of the Brokered Offering and use of proceeds therefrom and from the Non-Brokered Offering will remain as previously disclosed in the Company’s earlier July 27, 2022 press release.
The securities being offered under the Brokered Offering and Non-Brokered Offering will be issued pursuant to applicable exemptions from the prospectus requirements under applicable securities laws and will be subject to a hold period that will expire four months and one day from the date of issue.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and accordingly may not be offered or sold within the United States or to “U.S. persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act (“U.S. Persons”), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
11.08.2022, Canadian Premium Sand Inc.
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