Select Sands Receives Offer to Purchase Its Ownership Position in Comstock Metals
VANCOUVER, British Columbia, Sept. 05, 2017 (GLOBE NEWSWIRE) -- Select Sands Corp. (“Select Sands” or the “Company”) (TSX-V:SNS) (OTC:SLSDF) announces that it has received an offer from SJ Strategic Investments, LLC, Gracetree Investments, LLC, Gregory Asset Partners, LLC and the Gregory Irrevocable Equalizing Trust (together referred to as the “Syndicate”) to purchase the 20,000,000 common shares (the "Comstock Shares") of Comstock Metals Ltd. (TSX-V:CSL) (“Comstock”) held by the Company.
On September 14, 2016, the Company sold the La Range Gold Belt and early stage Jacobson, Old Cabin projects to Comstock in exchange for the Comstock Shares. The Syndicate is offering to purchase all of Comstock Shares for an aggregate purchase price of Cdn$2.95 million or Cdn$0.1475 per Comstock Share. The Company is currently assessing the offer and will provide an update when a decision has been made.
About Select Sands Corp.
Select Sands Corp. is an industrial Silica Product company developing its 100% owned, 520-acre Northern White, Tier-1, silica sands project located in Arkansas, U.S.A. Select Sands’ Arkansas property has a logistical advantage of being significantly closer to oil and gas markets located in Oklahoma, Texas, New Mexico, Colorado and Louisiana than Wisconsin sources. The Tier-1 reference above is a classification of frac sand developed by PropTester, Inc., an independent laboratory specializing in the research and testing of products utilized in hydraulic fracturing & cement operations, following ISO 13503-2:2006/API RP19C:2008 standards.
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.
Contact
Please visit www.selectsandscorp.com or call:
Zigurds Vitols
President & CEO
Phone: (604) 639‐4533