Highlights
The Company devoted its time and resources during the three-month period ended
- Continued discussions with debt and equity capital investors that have expressed interest in financing the Project;
- Completed two financing initiatives in support of the ongoing process to raise project financing. On
December 11, 2023 , the Company’s insiders, including board members and management, as well as certain key strategic investors exercised 4,747,692 common share purchase warrants, at an exercise price of$0.40 per warrant, resulting in net cash proceeds of$1,899,042 . Additionally, the Company reached an agreement with the holders of its outstanding convertible debentures to extend the maturity date by one year fromFebruary 26, 2024 toFebruary 26, 2025 . All holders of the convertible debentures are insiders or key strategic investors in the Company; and
- Subsequent to the period, the Company announced on
February 15, 2024 an acknowledgement of the support it received for its Project from theProvince of Manitoba .
“We look forward to making continued progress in 2024 with our efforts to raise capital for the construction of our integrated patterned solar glass manufacturing facility. The pledge of support we received recently from the
About
The Company is developing manufacturing capacity for ultra high-clarity patterned solar glass through a Company-owned facility to be located in
Neither the
CONTACT INFORMATION:
Canadian Premium Sand Inc. | |
President and Chief Executive Officer | Chief Financial Officer |
glenn.leroux@cpsmail.com | cam.deller@cpsmail.com |
Investor Relations | |
IR@cpsmail.com | |
587.355.3714 | |
www.cpsglass.com | |
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking statements relating to, without limitation, expectations, intentions, plans and beliefs, including information as to the future events, results of operations and the Company’s future performance (both operational and financial) and business prospects. In certain cases, forward-looking statements can be identified by the use of words such as “expects”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “plans”, “seeks”, “projects” or variations of such words and phrases, or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Such forward-looking statements reflect the Company's beliefs, estimates and opinions regarding its future growth, results of operations, future performance (both operational and financial), and business prospects and opportunities at the time such statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or circumstances should change. Forward-looking statements are necessarily based upon a number of estimates and assumptions made by the Company that are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Forward-looking statements are not guarantees of future performance. In particular, this press release contains forward-looking statements pertaining, but not limited, to: the ability of the Company to make continued progress in 2024 with its efforts to raise capital for the construction of the Project; the meaningful level of job creation and the potential to attract other solar energy supply chain investments; the significant economic and strategic value of the Project to the
Source:
2024 GlobeNewswire, Inc., source