Canadian Premium Sand Shows Strong Progress in Warrant Exercise

Canadian Premium Sand's Warrant Exercise and Year-End Results

CALGARY, Alberta — Canadian Premium Sand Inc. (CPS) is excited to share the successful conclusion of its recent warrant exercise and the impressive fiscal year-end 2024 financial results. Investors and stakeholders can access the company's audited financial statements and Management's Discussion & Analysis by reviewing CPS's SEDAR+ profile.

Successful Warrant Exercise

Following the announcement on December 16, 2024, regarding the exercise of common share purchase warrants and the extension of convertible debenture maturity dates, CPS has made significant strides. In December, a total of 9,206,404 warrants were exercised by major shareholders, board members, and management. Priced at $0.40 each, this exercise generated substantial gross cash proceeds of $3,682,562 for the company. With these funds, CPS now has 92,627,156 common shares outstanding. The proceeds are earmarked for advancing its solar glass manufacturing projects and supporting general corporate expenses.

Details of Warrant Expiration

Originally, CPS issued 32,100,000 warrants on August 31, 2022. Out of these, 14,811,496 were successfully exercised, leaving 17,288,504 unexercised warrants that expired on December 31, 2024.

Highlights of 2024 Fiscal Year

During the financial year ending September 30, 2024, Canadian Premium Sand made strategic investments totaling $0.52 million to advance its solar glass manufacturing facility located in Selkirk, Manitoba (referred to as the Selkirk Project). The company has also undertaken discussions with potential strategic partners to develop a solar glass manufacturing operation in the United States (the US Project).

Significant Support for Projects

The company has been proactive in securing substantial financial support. Notably, the Province of Manitoba and the Government of Canada indicated a combined financial backing of $272 million through various programs. CPS is currently progressing with a formal application for $100 million in non-dilutive support for the Selkirk Project, with the application now in the due diligence phase. Furthermore, CPS has engaged in discussions with local Indigenous groups regarding potential investments totaling $100 million utilizing the federal Indigenous Loan Guarantee Program.

Progress on Manufacturing Capacity

CPS has made significant strides towards cementing a $72 million financial support agreement from the Province of Manitoba for the Selkirk Project. Promisingly, the company has identified a suitable former glass manufacturing site in the US aimed at producing 4GW annually of specialized solar glass in collaboration with a strategic partner. To enhance their US operations, CPS has set up a wholly owned subsidiary and applied for a tax credit from the U.S. Department of Energy to support this venture.

Company Vision for Sustainable Growth

According to CPS President & CEO, Glenn Leroux, "2024 marked a pivotal year for us, as we broadened our strategic vision to deliver low-carbon products from the Selkirk Project alongside domestically produced glass from our US Project. In total, we aim for a remarkable production capacity of approximately 10GW of pattern solar glass yearly. The overwhelming support from our shareholders and management through warrant exercises clearly underscores their confidence in our strategic direction."

About Canadian Premium Sand Inc.

Canadian Premium Sand Inc. is on a mission to establish a robust manufacturing footprint in North America for ultra-high-clarity pattern solar glass, leveraging high-purity low-iron silica sand from their wholly owned Wanipigow quarry leases. The Selkirk facility in Manitoba is designed to utilize renewable hydroelectricity, aiming to generate 6GW of low-carbon solar glass, while a planned facility in the U.S. will add another 4GW of output. With an ambitious target of 10GW annual manufacturing capacity, CPS is positioning itself to become the leading supplier in North America. The company is publicly listed on the TSXV under the ticker "CPS."

Frequently Asked Questions

What is Canadian Premium Sand Inc. known for?

Canadian Premium Sand Inc. specializes in manufacturing ultra-high-clarity pattern solar glass, aiming to become a key supplier in North America.

How much funding did CPS secure for the Selkirk Project?

The company announced significant financial support amounting to $272 million from the provincial and federal governments for the Selkirk Project.

What is the future output capacity of CPS's solar glass manufacturing?

CPS plans a total manufacturing capacity of 10GW per year, combining efforts from both the Selkirk Project and the US Project.

What are the benefits of the warrant exercises for CPS?

The successful exercise of warrants generated over $3.6 million in gross cash for CPS, aiding in the advancement of core projects.

Where can I find more information about CPS?

More information about Canadian Premium Sand Inc. can be found on their SEDAR+ profile and their company website.

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