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Canadian Premium Sand Inc. Executes Multiple Commercial Off-take Agreements, Signs Turn-Key EPC Agreement, Enhances Executive Team and Board and Initiates Financing Process
Canadian Premium Sand Inc. Executes Multiple Commercial Off-take Agreements, Signs Turn-Key EPC A...
About this update from Canadian Premium Sand, Inc.
[{"type":"text","content":"\n \n \n \n Canadian Premium Sand Inc. Executes Multiple Commercial Off-take Agreements, Signs Turn-Key EPC Agreement, Enhances Executive Team and Board and Initiates Financing Process\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES OF AMERICA\n \n /\n \n \n \n \n \n \n Three binding commercial off-take agreements have been signed representing a minimum of 62% of planned output capacity, with optionality to increase to 77%\n \n \n \n \n \n \n Multiple memorandums of understanding (\"MOU\") have been signed, representing an additional 170% of planned output capacity, that are expected to convert into commercial off-take agreements such that the Project (defined below) is 100% contracted\n \n \n \n \n \n \n Pre-construction engineering and design is complete and a turn-key EPC agreement has been signed providing capital cost certainty and operational performance guarantees\n \n \n \n \n \n \n Off-take agreements and fixed cost certainty underpin attractive project economics (>18% unlevered before-tax IRR)\n \n \n \n \n \n \n Environmental Act Licence issued by the province of\n \n Manitoba\n \n to construct and operate a patterned solar glass manufacturing facility\n \n \n \n \n \n \n Vice President, Glass Operations appointed and board of directors enhanced with solar energy industry expertise\n \n \n \n \n \n \n Formal financing process initiated with Fort Capital Partners (\"Fort\") and Peters & Co. Limited (\"Peters\") engaged as co-financial advisors (the \"Advisors\")\n \n \n \n \n \n \n CALGARY, AB\n \n ,\n \n May 11, 2023\n \n /CNW/ -\n \n Canadian Premium Sand Inc.\n \n (\"\n \n CPS\n \n \" or the \"\n \n Company\n \n \") (TSXV: CPS) is pleased to provide an update regarding its development of\n \n North America's\n \n first vertically integrated patterned solar glass manufacturing facility (the \"\n \n Project\n \n \").\n \n \n \"We are excited to have reached this important stage in th...