Select Sands Corp.
TSX VENTURE : SNS
OTC PINK : CLICF

Select Sands Corp.

November 12, 2015 15:31 ET

Select Sands Closes First Tranche of Previously Announced $0.40 CDN Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Select Sands Corp. (TSX VENTURE:SNS)(OTC PINK:CLICF) (the "Company") is pleased to announce that it has closed the first tranche of its previously announced private placement of units ("Units") (see press release dated October 20, 2015) through the issuance of 2,712,500 Units at $0.40 per Unit raising gross proceeds of $1,085,000. Each Unit is comprised of one common share of the Company and one common share purchase warrant, with each whole warrant entitling the holder to purchase a further common share of the Company at a price of $0.60 for a period of three years after closing.

The Company has also announced that the overall size of the offering will be increased from a total of up to 3,750,000 Units for aggregate gross proceeds of up to $1,500,000 to up to 3,962,500 Units for aggregate gross proceeds of up to $1,585,000. The proceeds of this offering will be used to further develop the Sandtown property and for general working capital purposes.

In connection with the closing the Company paid finders fees of $60,000 and issued 200,000 compensation warrants. Each compensation warrant entitles the holder to acquire one common share in the capital of the company at a price of $0.40 for a period of three years after closing.

All securities issued in connection with the financing are subject to a four month hold period expiring on March 12, 2016.

About Select Sands Corp.

Select Sands' Sandtown property, located in northeast Arkansas, USA, is underlain by the Ordovician St. Peter sandstone formation, which is a major source of 'Ottawa White' Tier-1 frac sand/industrial sand selling into major US oil and gas basins as well as industrial and speciality end markets. The Sandtown property is located 3.1 miles from Highway 167 near a natural gas pipeline. The property has an active power line on the property and is located approximately 14.7 miles from the nearest rail system (see December 4, 2014 News Release). Compared to competitive sand mines located in Wisconsin owned by the largest US frac sand producers, Sandtown has a competitive location advantage as it is approximately 650 rail miles closer to the Texas/Louisiana oil/gas plays as well as the Houston port and industrial hub.

As per recently completed report by Tetra Tech of Golden, Colorado, USA and Vancouver, BC, Canada, 40% of the Sandtown property contains 22 million tons of Indicated resources of silica sand with a pre-tax NPV valued at US $160 million. This mineral resource is contained within 40% of the total property area (See June 10, 2015 News Release). The Company also owns the Preview SW Gold Project in the La Ronge Gold Belt, northern Saskatchewan. The Preview SW Gold Project hosts indicated resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and inferred resources containing 270,800 ounces (5.70 million tonnes grading 1.48 g/t Au) based on a 0.50 g/t Au cut-off grade (See October 31, 2013 News Release).

Douglas Turnbull, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this News Release.

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.

FORWARD-LOOKING INFORMATION

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. Such statements include statements regarding the anticipated completion of the proposed private placement. Information and statements which are not purely historical fact are forward-looking statements. 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. The assumptions on which the forward looking statements contained herein rely include the ability to complete the remainder of the financing. 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States absent such registration or an applicable exemption from such registration requirements.

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