Press Release - North America Frac Sand reduces issued common shares by over 50%
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Ossian, Indiana--(May 2, 2019) - North America Frac Sand Inc. (OTCPink: NAFS) ("NAFS" or the "Company") is pleased to update its shareholders of recent corporate events.
In July 2015 the Company entered into an agreement to issue 37,800,000 common shares in exchange for the purchase of the lease of mineral rights on land located north of Saskatoon, SK known as Eagle Creek.
“As previously announced, I am pleased to confirm that the shares placed into escrow pending the finalization of the purchase has been cancelled and returned to treasury, thus reducing the issued common shares by over 50%”, stated Joe Kistler, NAFS CEO.
“It has taken much longer than anyone anticipated, however the exploration for high quality Frac Sand is underway and at full speed and with the assistance of Stantec, I hope to be able to bring new information regarding reserves and future plans in the very near future" Kistler continued.
About North America Frac Sand, Inc.”
North America Frac Sand, Inc., headquartered in Ossian, Indiana, USA. With the mineral rights lease, the Company's intent is to validate the true value of its significant resource of high quality (strategically located) Frac Sand.
About Frac Sand:
Frac Sand is a proppant used in the oil and gas industry as a part of the hydraulic fracturing process - a means of increasing flow to the wellhead. Frac sand must have particular characteristics including achieving certain levels of crush resistance, sphericity, and roundness. It is therefore a relatively rare commodity
Forward-Looking Information:
This news release contains certain forward-looking information. All information, other than information regarding historic fact that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. Forward-looking information contained in this news release includes, but is not limited to, the ability of the Company to continue selling Frac sand in the future, on a spot basis or otherwise. The forward-looking information contained in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. With respect to the forward-looking information contained in this news release, the Company has made assumptions regarding, among other things, future prices for Frac sand and byproducts, future demand for processed Frac sand and the ability of the Company to restructure its debts. The forward-looking information contained in this news release is subject to a number of risks and uncertainties that may cause actual results or events to differ materially from
current expectations, including the general volatility of Frac sand and by-product prices and demand, geological, technical, drilling and processing problems, future currency and interest rates, an unwillingness of the Company's lenders to refinance the Company's debts on terms favorable to the Company or at all and the ability of the Company to continue selling Frac sand. Additionally, if the Company is unable to obtain additional financing, the Company may be required to curtail activities and/or liquidate its assets or the Company's creditors may seek to seize its assets. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable law, the Company disclaims any obligation to update or modify such forward-looking information, either because of new information, future events or for any other reason. Although the Company believes that the assumptions inherent in the forward looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Contact Information North America Frac Sand Inc. (260) 490-9990
nafsand101@gmail.com www.northamericafracsand.online
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