Houston, Texas – TheNewswrie - July 28, 2021 – Select Sands Corp. (the “Company” or “Select Sands”) (TSXV:SNS) / (OTC:SLSDF) today provides an operations and corporate update. The Company is pleased to report that its Q2 2021 frac and industrial sand sales were 85,242 tons, representing a 42% increase from Q1 2021 sales of 59,970 tons and a 61% increase from Q4 2020.
Separately, Select Sands received confirmation that the Company’s second Payroll Protection Program relief loan of US$574,990 has been forgiven and will be reflected as such in Select Sands’ Q2 financials that are scheduled to be released next month.
The Company has also released an updated investor slide deck posted on the Company’s web site at www.selectsands.com.
Zigurds Vitols, President & Chief Executive Officer, commented, “We are delighted to see that our sales volume by tons increased by 42% in Q2 compared to sales in Q1. The steady increase in crude oil pricing and the continued improvement in the U.S. oil and gas sector seen over the past months has supported increased development activity by our customers. We believe that positive trend will continue in the second half of this year resulting in continued demand for our premium Northern White Sands product offering that provides superior quality, including crush characteristics, compared to in-basin frac sand sources. As important, is the strategic location of our mine operations in Arkansas compared to traditional Northern White Sands producers located in the Upper Midwest. The result is that Select Sands can offer its customers a higher quality product offering that can be secured in the lower Mid-West at a much lower landed cost. We look forward to continuing to work closely with our customers to meet their growing needs.”
Select Sands Corp. is an industrial silica product company developing its 100% owned, 520-acre Northern White, high quality 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, and Louisiana than Wisconsin sources.
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. 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. Forward looking statements include statements regarding growing demand for the Company's product offering, the expectation for continued improvement in the U.S. oil and gas sector and performance in future quarters. 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. Certain of the risks that may impact these statements include general economic conditions, the demand of the Company's customers as well as those that are included in the Company's continuous disclosure documents available on SEDAR at www.sedar.com. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Company Contact
Please visit www.selectsands.com or contact:
Zigurds Vitols President & CEO Phone 844-806-7313 | W. Joe O’Rourke Vice President Sales & Marketing Phone: (713) 689-8000 | Wesley Harris Investor Inquiries Phone: (832) 917-6030 |
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