Announcement • Apr 10
Canadian Premium Sand Inc. announced that it has received CAD 1 million in funding from Paramount Resources Ltd. and other investors
On April 9, 2026, Canadian Premium Sand Inc. has closed the transaction. The transaction includes participation from returning investor, Paramount Resources Ltd. for CAD 275,000. Prior to the private placement and the conversion price adjustment, Paramount had direct ownership and control of 17,946,964 common shares, representing approximately 19.38% of the 92,627,156 common shares issued and outstanding, and CAD 900,000 in principal amount of 2020 convertible debentures. If Paramount would have converted the 2020 convertible debentures, excluding accrued interest thereon, held by it prior to the private placement and the conversion price adjustment, it would have acquired an additional 1,200,000 common shares, representing 1.28% of the common shares that would have been issued and outstanding following such conversion. Accordingly, Paramount would have held a total of 19,146,964 common shares, representing 20.41% of the common shares that would have been issued and outstanding following such conversion. Following the private placement and the conversion price adjustment, Paramount has direct ownership and control of 17,946,964 common shares, representing approximately 19.38% of the 92,627,156 common shares issued and outstanding, CAD 900,000 in principal amount of 2020 convertible debentures and CAD 275,000 in principal amount of 2026 convertible debentures. If Paramount were to convert all of the 2020 convertible debentures and all of the 2026 convertible debentures held by it, excluding accrued interest thereon, it would acquire an additional 7,833,333 common shares, representing 7.80% of the common shares that would be issued and outstanding following such conversion. Accordingly, Paramount would hold a total of 25,780,297 common shares, representing 25.66% of the common shares that would be issued and outstanding following such conversion. All the securities are subject to a statutory hold period expiring on August 10, 2026. Accrued interest on the 2020
convertible debentures and the 2026 convertible debentures may, subject to the approval of the TSX Venture Exchange.
