David J. Wilson Announces Filing of Early Warning Report in Respect of Canadian Premium Sand Inc.
Calgary, Alberta--(Newsfile Corp. - March 21, 2019) - David J. Wilson (the "acquiror") announces that he has filed an early warning report ("Report") in respect of his ownership of securities of Canadian Premium Sand Inc. ("CPS").
On August 2, 2018, joint actors of the acquiror acquired 17,000,000 common shares in the capital of CPS ("Shares") by way of private placement at a price of $0.10 per share and 6,187,121 Shares pursuant to the conversion of convertible debentures (collectively, such transactions being the "Acquisition").
Prior to the Acquisition, the acquiror held 12,300,000 Shares and joint actors held convertible debentures convertible into 6,187,121 Shares, which represented 6.52% of Shares outstanding before giving effect to any outstanding convertible debentures and 9.49% of the outstanding Shares assuming the conversion of the convertible debentures. After giving effect to the Acquisition, the acquiror and joint actors held 35,487,121 Shares or 11.14% of the outstanding Shares as follows: 12,300,000 Shares held by the acquiror; 14,000,000 Shares held by 710719 Alberta Inc.; 6,176,561 Shares held by David Wilson Family Trust; and 3,010,560 Shares held by David and Penny Wilson Family Foundation. Note, the Corporation has since effected a 15:1 consolidation of its outstanding Shares. The foregoing numbers of Shares are on a pre-consolidation basis.
The Shares were acquired for investment purposes. In the future, the acquiror and joint actors may, subject to applicable law, acquire or dispose of securities of CPS depending upon a number of factors, including but not limited to general market and economic conditions and other available investment opportunities.
A copy of the Report is filed under CPS's corporate profile on SEDAR at www.sedar.com. For further information regarding the Report, please contact the acquiror at 403-294-0154.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43585