Select Sands Corp. Announces Issuance of Cease Trade Order and Suspension of Trading
Houston, May 13, 2024 - Select Sands Corp. ("Select Sands", "We", or the "Company") (TSXV:SNS), (OTC:SLSDF) announces that the British Columbia Securities Commission (the "BCSC") issued a cease trade order against the Company effective May 8, 2024, for failing to file audited annual financial statements, management's discussion and analysis and annual certifications for the year ended December 31, 2023 (collectively, the "Required Filings") within the time period prescribed by securities regulation. In addition, as a result of the BCSC cease trade order, the trading of the Company's common shares on the TSX Venture Exchange was also suspended on May 8, 2024. The Required Filings have been delayed due to going concern issues resulting from the shuttering of the Company's subsidiary, Select Sands America Corp., and as further detailed in the Company's previous news release of April 29, 2024. Upon filing the Required Filings and revocation of the cease trade order, the Company will submit the required materials to the TSX Venture Exchange requesting the reinstatement of trading. About Select Sands
Select Sands is a provider of high-quality industrial sand products for various applications. With a focus on innovation and customer satisfaction, Select Sands is dedicated to delivering excellence in the sand industry.
Forward-Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. The forward-looking statements in this press release relate to comments that include, but are not limited to, statements related to the expected current and future state of operations, the unique market position of the Company, opportunities being explored for the Company's future, the Company's ability to repay or restructure its existing debt, a reopening timeline for the Company's operations, the Company's ability or timing to file the Required Filings, the possible future lifting of the cease trade order on the Company's securities and its ability to continue as a going concern. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
Company Contacts
Please visit www.selectsands.com or contact:
| Zigurds Vitols President & CEO Phone 844-806-7313 info@selectsands.com |
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.
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