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     894  0 Kommentare Select Sands Announces the Sale of the Assets of Canfrac Sands Ltd.

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 17, 2014) - Select Sands Corp. ("Select Sands" or the "Company") (TSX VENTURE:SNS) reports that a special meeting of shareholders of CanFrac Sands Ltd. ("the Corporation") was held on December 16, 2014 at the offices of Davis LLP, Suite 1000, Livingston Place, West Tower 250 - 2nd Street S.W. Calgary, Alberta, Canada.

    Canfrac Sands is in the business of producing 20/40, 40/70, 16/30, and 100 mesh fracturing sand used in conventional fracturing of oil and natural gas wells in the Western Canadian Sedimentary Basin. The Corporation's quarrying operations and processing facilities are located near the city of Lloydminster in Saskatchewan.

    Pursuant to an Offer to Purchase and Purchase and Sale Agreement dated November 25, 2014 (the "Purchase and Sale Agreement") entered into by the Corporation and a private 'Numbered' Alberta Company, the Numbered Company has agreed to purchase the properties, assets, and undertakings of the Corporation comprising its fracturing sand business, as a going concern, including the goodwill associated with the business (collectively, the "Assets"), for an aggregate purchase price of $3,500,000.

    Shareholders have approved the sale by a special majority. The Corporation will be and is hereby authorized to change its name and website from Canfrac Sands Ltd. to its designating number. The deal officially closed on December 16, 2014. The funds are held in a Davis LLP Trust Account to be distributed among shareholders on or before 60 days from December 16, 2014. Select Sands Corp. (formerly La Ronge Gold Corp.) owns 22% equity in CanFrac Sands Ltd.

    About Select Sands Corp.

    Select Sands is a Vancouver-based resource growth and development company. The Company recently entered into a binding letter of agreement for an option to acquire a 100% undivided right, title, and interest in an approximately 520-acre prospective Tier 1 frac sand property ("Sandtown") located in northeast Arkansas, USA.

    Select Sands has commenced a drill program on its Sandtown property. The property is underlain by the Ordovician St. Peter sandstone formation, the source of 'Ottawa White' frac sand selling into major US oil and gas basins. Sandtown sits 3.1 miles from a highway, has an active power line, and has access to an existing rail system about 15 miles away. (See December 4, 2014 News Release)

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    Select Sands Announces the Sale of the Assets of Canfrac Sands Ltd. VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 17, 2014) - Select Sands Corp. ("Select Sands" or the "Company") (TSX VENTURE:SNS) reports that a special meeting of shareholders of CanFrac Sands Ltd. ("the Corporation") was held on December 16, …