Select Sands Announces Approval CAPEX Loan for Arkansas Expansion Project $3.89 Million USD
03 Mayo 2018 - 8:21AM
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.
Forward-Looking Statements
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:
Zigurds VitolsPresident & CEOPhone: (604)
639-4533
Investor RelationsArlen
HansenSNS@kincommunications.comPhone: (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.
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