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VANCOUVER, British Columbia, Sept. 12, 2017 -- Select Sands Corp. (“Select Sands” or the “Company”) (TSX-V:SNS) (OTC:SLSDF) today announced that the offer from SJ Strategic Investments, LLC, Gracetree Investments, LLC, Gregory Asset Partners, LLC and the Gregory Irrevocable Equalizing Trust (together referred to as the “Syndicate”) to purchase the 20,000,000 common shares of Comstock Metals Ltd (TSX-V:CSL) ("Comstock") held by the Company has been withdrawn.
The Company has been advised that the decision of the Syndicate to exercise its option to withdraw its offer to purchase the Comstock shares was made in light of the regulatory requirements, time and expense that were to be imposed in order to obtain the additional board representation that the Syndicate sought in connection with the proposed transaction. The decision not to proceed with the proposed transaction was not, however, made as a result of any due diligence matters uncovered. The Syndicate remains a significant shareholder of Comstock, and the Syndicate has confirmed that its overall view of its current investment, and support for, Comstock remains unchanged.
About Select Sands Corp.
Select Sands Corp. is an industrial Silica Product company developing its 100% owned, 520-acre Northern White, Tier-1, 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, Colorado and Louisiana than Wisconsin sources. The Tier-1 reference above is a classification of frac sand developed by PropTester, Inc., an independent laboratory specializing in the research and testing of products utilized in hydraulic fracturing & cement operations, following ISO 13503-2:2006/API RP19C:2008 standards.
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.
Contact
Please visit www.selectsandscorp.com or call:
Zigurds Vitols
President & CEO
Phone: (604) 639‐4533
