CALGARY, ALBERTA, SEPTEMBER 19, 2022 (GLOBE NEWSWIRE) — Canadian Premium Sand Company (“CPS” or “Company) (TSXV: CPS) announces that it has joined an international engineering, procurement and construction consortium (“EPC”) Company to complete the detailed design and pre-construction engineering associated with a patterned solar glass manufacturing facility under development in Selkirk, Manitoba.
The EPC Consortium consists of five complementary professional services companies.
- Henry F. Teichmann, Inc. (“HFT) – A specialist US engineering contractor with over 75 years of expertise in providing reliable turnkey glass manufacturing facilities. HFT has offices in the UK, China, the Philippines, Singapore and St. We have designed and built over 300 production lines in 47 countries for some of the industry’s most respected companies.
- Fives Group (“Fives) – French Industrial Engineering Group, operating in about 30 countries, its divisions include glass melting, roll pattern machinery and energy efficient technologies in annealing rails dedicated to the production of solar glass. Includes departments focused on the design and installation of Fives has designed and installed the technology in more than 20 of his solar glass projects over the past decade.
- Bottero SpA (“Bottero”) – Italian manufacturer of highly automated machines for glass production and cold-end processing lines. Often partnered with Fives and HFT, Bottero has extensive experience in designing, supplying and installing patterned solar glass installations in over 50 facilities since its inception.
- ELRUS Aggregate System (“Elulus”) – Professional manufacturer of aggregate processing equipment in Canada. Since 1975, Elrus has developed innovative and reliable solutions including a complete package of equipment, parts, service, engineering and design support to maximize efficient recovery of precious minerals. rice field.
- PCL Constructors Co., Ltd. (“PCL) – Canada’s largest contracting organization with diversified businesses in the civil infrastructure, heavy industry and construction markets. Backed by a strategic presence in over 30 major centers, including a significant presence in Manitoba, PCL has over 100 years of customer-focused service and an annual construction volume of $8 billion. is exceeded.
Combined expertise of EPC consortium to provide integrated design and process configurations utilizing the most capital efficient technology to meet current and future solar glass specifications received by the company from its growing customer base To do. Due to the strong interest expressed so far by our customers, we are investigating opportunities to increase Phase 1 solar glass production beyond what was envisioned in his FEED study. In addition to better serving noted customer demand, increased production will help improve the economics of an already attractive project.
Glenn Leroux, president and CEO of the company, said: “As we move the development of solar glass manufacturing projects to shovel-ready status, this expert group will continue to develop comprehensive designs to meet our goal of producing the highest quality, low-carbon solar glass available. In addition, a design process focused on value engineering for operational and capital cost efficiencies will enable CPS to maximize the economics of an already strong project.”
A key outcome of the pre-construction phase is a capital cost estimate with +/- 5% certainty, thereby anticipating reaching shovel-ready status in Q1 2023. Reduce project risk.
In addition to this, CPS has other development initiatives that contribute to the shovel-ready state, such as permits, silica sand resource upgrades and testing, and ongoing negotiations to convert formal expressions of interest into commercial offtake contracts. continue to promote
About Canadian Premium Sand
The company is developing manufacturing capabilities for ultra-high clarity patterned solar glass through its own facility located in Selkirk, Manitoba. The facility utilizes high-purity, low-iron silica sand from the lease of the wholly-owned Allipig Quarry and renewable Manitoba hydroelectricity. The company is the report publisher for Ontario, Alberta and British Columbia. Its shares are traded on TSXV under the symbol ‘CPS’.
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
PR for investors
Certain statements contained in this press release constitute, without limitation, forward-looking statements relating to expectations, intentions, plans and beliefs. This includes information about future events, results of operations and our future performance (both operational and financial) and developments. Planning and business outlook. In some cases, forward-looking statements are defined as “expects,” “estimates,” “predicts,” “intends,” “anticipates,” “believes,” “plans,” “seeks,” ” project” or variations of such words or phrases, or stating that a particular action, event, or outcome is “could” or “intended” or could be achieved. Such forward-looking statements represent our beliefs regarding future growth, operating results, future performance (both operational and financial) and business prospects and opportunities as of the date such statements are made. , estimates and opinions, without any liability. We will update any forward-looking statements if these beliefs, estimates, opinions or circumstances should change. Forward-looking statements are inevitably based on a number of estimates and assumptions made by the Company that are inherently subject to material business, economic, competitive, political and social uncertainties and contingencies. increase. Forward-looking statements are not guarantees of future performance. Specifically, but without limitation, this press release contains forward-looking statements regarding: Expected profits of the EPC consortium. The potential for increased solar glass production in Phase 1 and the benefits derived from it. Various development initiatives to bring solar glass projects to shovel-ready status, including permits, silica sand resource upgrades and testing, and ongoing negotiations to convert existing expressions of interest into additional commercial offtake contracts. industry activity levels; industry conditions related to solar glass manufacturing; The ability and method of meeting the company’s capital needs. Our Purpose, Strategy and Competitiveness. By their nature, forward-looking statements involve a number of current assumptions, known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or performance to differ. , or results may differ materially from those anticipated by us and described in the forward-looking statements. The statement you are looking for.
A number of factors, risks and uncertainties could cause results to differ materially from those projected and stated herein. Fluctuations in glass product prices and the impact of raw material input costs. risks associated with liabilities and liquidity, including our capital requirements; Risks related to interest rate fluctuations and exchange rate fluctuations. changes in general economic, financial, market and business conditions in the markets in which we operate; our ability to obtain, maintain and renew any required permits, licenses and approvals from regulatory authorities; Severe requirements and subject to change of applicable laws, regulations and standards. our ability to comply with unexpected costs from government regulations; Liabilities arising from our business. as a result of legal proceedings or regulatory proceedings that may be brought against us; Uninsured and underinsured losses. risks associated with the transportation of our products, including potential rail line disruptions or reduced rail vehicle availability; our geographic and customer concentrations; our ability to retain and attract talented management and staff in the markets in which we operate; Risks related to labor disputes, work stoppages, and employee health and safety. General risks, market losses, consumer and business spending and borrowing trends associated with the glass manufacturing and quarrying industries. Limited, unfavorable or absent access to capital markets. The uncertainty inherent in estimating product quantities. processing matters; use and suitability of our accounting estimates and judgments; Additional risk factors outlined in CPS’s latest Management’s Discussion and Analysis are available on SEDAR. www.sedar.comAlthough we have attempted to identify important factors that could cause our actual actions, events or results to differ materially from those set forth in the forward-looking statements, we do not anticipate or anticipate that our actions, events or results may differ. There may be other factors that cause it not to be estimated. or intended. There can be no assurance that forward-looking statements will materialize or prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Any forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Readers should not place undue reliance on forward-looking statements. These statements are made only as of the date of this press release. Except as required by law, we expressly disclaim any intention or obligation to revise or update any forward-looking statements or information, whether as a result of new information, future events or otherwise. Financial prospects and forward-looking financial information regarding future financial performance, financial position, cash flow or EBITDA projections contained in this press release are based on assumptions about future events, including economic conditions, and are subject to the Based on the proposed course of action based on the evaluation of Information currently available. Projected operating information includes forward-looking information and is based on a number of significant assumptions and factors, as discussed above. These projections may also be considered forward-looking financial information or projections. Actual results of our business in any period may differ from the amounts set forth in these forecasts and such variations may be material. Actual results differ from predicted results. Readers are cautioned that the financial forecasts and forward-looking financial information contained herein should not be used for any purpose other than as disclosed herein. Forward-looking information and statements contained in this document speak only as of the date hereof, and we do not publish them to reflect new events or circumstances, except as required by applicable law. under no obligation to update or revise.
Canadian Premium Sands has partnered with world-class EPC consortium, Canadian Business Journal.
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