Select Sands Corp. (OTCQX: SLSDF) is engaged in the acquisition, exploration, development, and extraction of mineral properties. Shares of the mineral mining company is jumping 12.87%, during afternoon trading on Friday, March 17, 2017. Over the past three months, Select Sands Corp. has seen average daily volume of 170,250 shares. However, volume of 145,656 shares or dollar volume of $166,047, has already exchanged hands Friday.
Shares of Select Sands Corp. are rallying Friday, after the company announced it has entered into a multi-year frac sand supply agreement with Liberty Oilfield Services, LLC. Volumes are expected to increase in 2018 and 2019, as the company completed its initial rail shipments in February 2017. Here is the full press release detailing of the supply agreement:
Select Sands Corp. Press Release:
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Mar 17, 2017) – Select Sands Corp. (“Select Sands” or the “Company”) (TSX VENTURE:SNS) (SLSDF) announces that its wholly-owned subsidiary, Select Sands America Corp., has entered into a multiyear frac sand supply agreement with Liberty Oilfield Services, LLC of Denver Colorado. Initial rail shipments were completed in February, 2017 and are anticipated to continue throughout 2017 with volumes expected to increase in 2018 and 2019 to surpass a total of one million tons per year. The 40/70 and 100 mesh products to be supplied under the agreement will be sourced from the Company’s facilities in Arkansas.
Select Sands Corp. President and CEO, Zig Vitols commented: “Liberty Oil & Gas is a valued partner and we look forward to the continued supply of their proppant needs into the future. This agreement is another milestone in our strategy to optimally expand capacity and become a supplier to a diverse customer base.”
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 significant logistical advantage of being approximately 650 rail-miles closer to oil and gas markets located in Oklahoma, Texas, New Mexico, and Louisiana.
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. Such statements in this press release include statements regarding the future shipments of frac sand to Liberty Oil Field Services, LLC and the anticipated increase in volumes of such shipments as well as statements regarding the expansion of the Company’s capacity. 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. These risks and uncertainties include, among other things, the ability of Liberty Oil Field Services to satisfy its obligations under the supply agreement and the ability of the Company to execute on its plans to expand capacity together with the risk factors set forth in the Company’s Management’s Discussion and Analysis for the period ended September 30, 2016 under the heading “Risks & Uncertainties”, a copy of which is filed on SEDAR at www.SEDAR.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. 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 forwardlooking 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 forwardlooking 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.