VANCOUVER, British Columbia, April 27, 2018 (GLOBE NEWSWIRE) -- The board of directors of Select Sands Corp. ("Select Sands" or the "Company") (TSXV:SNS) (OTCQX:SLSDF) is pleased to announce the appointment of Mr. Daniel A. Gillett as Chairman of the Board.
Mr. Gillett brings over 30 years’ experience serving as a director, investment banker, consultant and senior executive, including serving as chief executive officer and chief financial officer. Throughout his career he has completed over $15 billion in financing, restructuring and merger and acquisition transactions, with the majority of those efforts being across all sectors of the oil and gas industry. Appointed to the board of directors of Select Sands in March, his business experience, leadership skills and commitment to work with both Select Sands’ board of directors and its senior management team, make Mr. Gillett the right choice to act as Chairman of the Board. Mr. Gillett received his MBA from Harvard Business School in finance and a BBA in accounting from Harding University.
Zig Vitols, President and CEO of Select Sands states, “Mr. Gillett’s leadership skills and business acumen have already made a significant impression within the board of directors and senior management. He has the commitment and skill to lead the board and interact with senior management to guide the future of the Company and increase shareholder value. We are delighted to have him appointed as Chairman of the Board and look forward to working more closely with him. We are confident Mr. Gillett’s experience in the oil and gas industry and his past successes in financing and recapitalization transactions will be beneficial to Select Sands' execution of its business strategy as it moves forward.”
As announced on April 10, 2018, the Company plans to immediately build a new stand-alone 400,000-ton-per-year production facility (comprising both wet and dry processing capability) to be located on the Independence property, and it is anticipated to be completed in the second half of 2018. The expansion project’s estimated cost of $4-million to $4.5-million USD is anticipated to be financed through bank financing.
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’ goal is to become a key supplier of premium industrial silica sand and frac sand to the North American markets. Select Sands’ Arkansas property has a significant logistical advantage of being significantly closer to oil and gas markets located in Oklahoma, Texas and Louisiana than sources of similar sands from the Wisconsin area.
For more information about Select Sands Corp., please visit www.selectsandscorp.com or contact:
Zigurds Vitols
President & CEO
Phone: (604) 639-4533
Investor Relations
Arlen Hansen
SNS@kincommunications.com
Phone: (604) 684-6730
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FORWARD-LOOKING INFORMATION
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 contained in this press release include statements relating to the construction of the 400,000-ton-per-year production facility and the timing and financing thereof. 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. 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.
