Canadian Premium Sand Inc V.CPS

Up to $272 million in Indications of Financial Support V.CPS

[Betteryear2]

CALGARY, Alberta, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to announce that the Province of Manitoba and the Government of Canada intend to support the Company’s integrated patterned solar glass manufacturing facility in Selkirk, Manitoba (the “Project”) with up to $272 million in financial assistance.

Canadian Premium Sand Inc. Announces Up to $272 million in (globenewswire.com)

[longrun86]

It's hard to really put a value on this yet. Grants and other government commitments/loans are so tricky. What I do see in the new corporate presentation is that they need to raise $168 million in equity. Will the market ascribe value to the government funding in a way current shareholders will benefit or will the current shareholders be wiped out from massive dilution at low prices? My

[thedave2006]

let's go.

[SimmsandKings]

Very good news. If their ducks are in a row, and they certainly should be, it shouldn't take long to complete their financing.  

[longrun86]

So far today the shares have increased from $0.20 to $0.30. Based on 83.42 million shares outstanding, the news release has added $8.342 million in market capitalization or 3% of the announced funding of $272 million. I am not trying to be a pumper here but I believe that the increase should be quite a bit higher than 3%; granted, some of this is in the form of loans. If your view is that the

[1dollarinto2]

This announcement is very exciting to me. I believe the funding commitments from the Government of Manitoba and the Government of Canada virtually guarantee this project will be developed. Hopefully CPS can put a funding package together quickly to start construction; however, I can also imagine a scenario where a larger company or two pursue a purchase of CPS rather than investing or partnering.