Calgary, Alberta--(Newsfile Corp. - April 30, 2019) - David J. Wilson (the "acquiror") announces that he has ceased to be a 10% securityholder of Canadian Premium Sand Inc. ("CPS"). An early warning report ("Report") in respect of this change in ownership has been filed.
A joint actor of the acquiror disposed of 411,771 common shares in the capital of CPS ("Shares") on April 22, 2019 (the "Disposition") by way of transfer to persons with whom the acquiror does not exercise trading authority nor voting power. After giving effect to the Disposition, the holdings of the acquiror together with joint actors decreased to less than 10% of the issued and outstanding Shares on a non-diluted basis.
Prior to the Disposition, the acquiror and joint actors held 2,365,808 Shares as follows: (i) the acquiror holding 820,000 Shares; (ii) 710719 Alberta Inc. holding 933,333 Shares; (iii) David and Penny Wilson Family Foundation holding 200,704 Shares; and (iv) David Wilson Family Trust holding 411,771 Shares. Such holding of 2,365,808 Shares represented 11.14% of the outstanding Shares. After giving effect to the Disposition, the acquiror and joint actors held 1,954,037 Shares or 9.20% of the outstanding Shares as follows: (i) the acquiror holding 820,000 Shares; (ii) 710719 Alberta Inc. holding 933,333 Shares; and (iii) David and Penny Wilson Family Foundation holding 200,704 Shares.
The Shares were disposed of pursuant to 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/44445
