VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 4, 2017) - Select Sands Corp. ("Select Sands" or the "Company") (TSX VENTURE:SNS)(OTCQX:SLSDF) is pleased to announce that it has signed a lease to purchase agreement with Newport Rail Loading Facility, LLC (Seller) of Arkansas, whereby Select Sands will acquire the rail loading facility for $2,050,000 (USD) paid over 5 years. The first-year payment of $500,000 has been made to the Seller. The balance will be paid out in equal amounts of $387,500 every year until March, 2021.
The loading facility located in Diaz, Arkansas is connected to the Union Pacific Railroad mainline and is 15 miles from the Company's dry processing plant. The current capacity allows for loading and shipping of one 25 car unit per day. Rail destinations for the company's Northern white 40/70 and 100 mesh products now include the Texas-Permian and Louisiana-Haynesville basins.
Zigurds Vitols, President & CEO, commented, "The Newport Rail Facility is a right-sized investment at this point of the Company's development. It will allow dedicated loading, as required, to meet current supply commitments while management considers expansion of the facility and other transportation infrastructure options."
About Select Sands Corp.
Select Sands Corp. and its fully owned subsidiary Select Sands America 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 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.
For more information about Select Sands Corp., please visit www.selectsandscorp.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.