The Q2 2023 Financial Statements and Management's Discussion and Analysis are available on SEDAR+ at www.sedarplus.ca and on the Corporation's website at www.athabascaminerals.com.
Q2 2023 HIGHLIGHTS
Signed multi-year transload agreement for the delivery of silica sand into the
Signed an 18-month sand supply agreement with a leading North American oilfield services firm for a total minimum commitment of 360,000 tons, subject to pricing adjustments.
Closed a definitive sale agreement with an arm's length purchaser to divest of certain non-core assets within the aggregates division for total cash consideration of
Q2 2023 FINANCIAL RESULTS
In the second quarter of 2023, Athabasca reported consolidated revenue of
ANNUAL GENERAL & SPECIAL MEETING UPDATE
The Corporation received an order from the
On
The consummation of a transaction as part of the Process may require shareholder approval at a special meeting of shareholders (the 'Potential Special Meeting') pursuant to one or more provisions of the Act, applicable securities laws and the policies of the
Contact:
Tel: 587-392-5862
Email: cheryl.grue@athabascaminerals.com
FORWARD-LOOKING STATEMENTS
This news release contains certain statements or disclosures relating to Athabasca that are based on the expectations of its management as well as assumptions made by and information currently available to Athabasca which may constitute forward-looking statements or information ('forward-looking statements') under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results, or developments that Athabasca anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words 'focus', 'intended', 'opportunity', 'plans', 'potential', 'will', 'would' and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the Meeting and Potential Special Meeting; the Corporation's filings on SEDAR+; shareholder value; the Process and the Corporation's operational position, potential, growth, success, commitments and strategy.
The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Athabasca including, without limitation: that costs, expenses, and inflationary pressures faced by Athabasca will not continue; availability of debt and/or equity sources to fund Athabasca's capital and operating requirements as needed; certain cost assumptions; Athabasca will continue to conduct its operations in a manner consistent with past operations; that Athabasca's capital resources will be sufficient to meet its forecasted and budgeted expenses and that such expenses will not exceed the level of capital resources available; the ability of Athabasca to obtain and retain qualified staff, equipment, and services in a timely and cost efficient manner; continuity in the management of Athabasca and the general continuance of current or, where applicable, assumed industry conditions.
Athabasca believes the material factors, expectations, and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations, and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: the required shareholder and regulatory approvals; general economic, market, and business conditions; shareholder value may not be maximized in the manner suggested by Athabasca or at all; Athabasca may be unable to resolve mechanical or operational issues in the timelines anticipated, in the manner anticipated, or at all; increased costs and expenses; reliance on industry partners; that Athabasca will have sufficient working capital to meet its existing contractual obligations, including without limitation certain production commitments that may limit Athabasca's ability to ensure operations are profitable and operational requirements; future co-operation of the creditors of Athabasca and the ongoing willingness of its lenders to provide funds to Athabasca; the ability to maintain relationships with suppliers, customers, employees, shareholders, and other third parties in light of Athabasca's current liquidity situation and certain other risks detailed from time to time in Athabasca's public disclosure documents including, without limitation, those risks identified in this news release and in Athabasca's annual information form dated
(C) 2023 Electronic News Publishing, source