Select Sands Files Early Warning Report
04 Julio 2018 - 3:04PM
Select Sands Corp. ("Select Sands" or the "Company") (TSX
VENTURE:SNS) (OTC:CLICF) announced today that it has filed an early
warning report in respect of its acquisition of 2,635,400 units of
Comstock Metals Ltd. ("Comstock") pursuant to the non-brokered
private placement completed by Comstock on July 3, 2018. Each
unit is comprised of one common share in the capital of Comstock
and one common share purchase warrant of Comstock (a
"Warrant"). Each Warrant entitles the holder thereof to
purchase one additional common share at an exercise price of $0.10
per Share until July 3, 2020. The 2,635,400 units were issued at a
price of $0.05 per unit for total consideration of $131,770. After
giving effect to the acquisition by the Company of the 2,635,400
common shares, the Company holds common shares of Comstock
representing approximately 24.6% of the issued and outstanding
common shares of Comstock and after giving effect to the exercise
of the warrants the Company's holdings would represent
approximately 26.7% of the issued and outstanding common shares of
Comstock. Prior to filing this report Select Sands held
20,000,000 common shares representing approximately 25% of the
issued and outstanding common shares of Comstock. However, as a
result of prior issuances of common shares by Comstock since the
date of the Company's acquisition of its 20,000,000 common shares
the Company's ownership percentage has decreased from approximately
35.4% as at the date of the Company's previous early warning
report.
The Company completed the purchase of units for
investment purposes. The Company reviews its holdings from
time to time and has no intention of increasing or decreasing its
position in Comstock.
This news release is being issued in accordance
with National Instrument 62-103 - The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues in connection
with the filing of an early warning report dated July 4, 2018. The
early warning report respecting the Transactions has been filed on
System for Electronic Document Analysis and Review ("SEDAR") at
www.sedar.com under Comstock's issuer profile. To obtain a copy of
the early warning report filed by the Company, please contact
Darren Urquhart at (604) 639-4533 or refer to the SEDAR at
www.sedar.com under Comstock's issuer profile.
The head office of Select Sands is located at
363 North Sam Houston Parkway, Suite 1050, Houston, TX 77060 and
the head office of Comstock is located at Suite 310-850 West
Hastings St., Vancouver, BC, V6C 1E1.
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
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
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