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Canadian Premium Sand Inc. Provides Corporate Update, Announces Extension of Convertible Debenture Maturity Date and Fiscal Year End 2025 Results
CALGARY, Alberta, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. (“ CPS &#...
About this update from Canadian Premium Sand, Inc.
[{"type":"text","content":"Canadian Premium Sand Inc. Provides Corporate Update, Announces Extension of Convertible Debenture Maturity Date and Fiscal Year End 2025 Results\nCALGARY, Alberta, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to provide a corporate update on its development activities and announces an extension of its convertible debenture maturity date and its fiscal year end 2024 financial results. The Company’s audited financial statements and notes thereto and Management’s Discussion and Analysis for the three months and year ended September 30, 2025, are available under CPS’s SEDAR+ profile. Corporate Update During fiscal year 2025 the Company focused its time and resources on advancing its pattern solar glass manufacturing strategy through the development of a planned 4 GW facility in the US and its flagship 6 GW Canadian project in Selkirk, Manitoba. The Company continued to advance customer discussions and negotiations toward long-term binding take-or-pay offtake agreements to support further development of the US project. While 30% of the planned US facility’s output has been secured in binding offtake agreements, uncertainty surrounding US solar energy policy has made it challenging to achieve the Company’s internal target of 80% contracted offtake agreements to advance the US project. In addition, continued uncertainty in Canada-US trade relations has inhibited progress on offtake discussions necessary to support advancement of the Canadian facility. As a result, the Company has elected to pause further development of the two pattern solar glass projects until there is stability in trade policy and the geopolitical landscape. Although the timing of increased policy stability remains uncertain, US policy developments could strengthen the investment climate for solar energy and the solar module supply chain. The US administration’s focus on establishing a domestic solar supply-chain, together with the recently introduced Prohibited Foreign Entity of Concern (“FEOC”) legislation, may create an environment where non-FEOC supply-chain participants have preferential access to the US market. The market demand for pattern solar glass continues to remain strong with solar installations in the US p...