CanAm Coal Corp. announced it has completed the acquisition of a 100% interest in an Alberta Metallic and Industrial Minerals Permit covering approximately 1,200 acres (567 ha) of land containing high quality silica sand (or Frac Sand) in Central Alberta. The aggregate purchase price of the acquisition is $1.5 million which will be settled by $215,000 in cash and the issuance of 25.7 million common shares of the company at a deemed price of $0.05 per common share.

At closing of the transaction, and including the portion of the purchase price that was paid at signing of the binding letter of intent, $165,000 in cash was paid and 5,940,000 common shares were issued. The remaining portion of the purchase price, comprised of 19,760,000 common shares of the company, were escrowed and will vest in accordance with the achievement of the following milestones and/or performance criteria: 4,940,000 common shares upon completion of a NI 43-101 resource report, 6,175,000 common shares upon completion of a Preliminary Economic Assessment and 8,645,000 common shares upon receipt of final permits. A final cash payment of $50,000 is due on February 1, 2015.