Cooper Standard(US:CPS) Globenewswireยท2024-12-16 12:00Core Viewpoint - Canadian Premium Sand Inc. has completed two financing initiatives to support the advancement of its solar glass manufacturing facilities in Canada and the US, indicating strong backing from major shareholders and insiders [1][2][3]. Financing Initiatives - The company raised $2,516,295 by the exercise of 6,290,737 common share purchase warrants at an exercise price of $0.40 per warrant, increasing the total common shares outstanding to 89,711,489 [1]. - Additional exercises of up to 1,650,000 warrants by other large shareholders could provide up to $660,000 in further cash proceeds [1]. Convertible Debentures - Key strategic investors have agreed to extend the maturity date of the company's outstanding convertible debentures by one year, from February 26, 2025, to February 26, 2026 [2][3]. Strategic Goals - The company aims to finalize terms for federal and provincial financial support and secure a lead investor to complete financing for the Selkirk Project [3]. - A positive decision from the US Department of Energy regarding the company's investment tax credit application for the US facility is anticipated in Q1 2025, which would significantly enhance development plans [3]. Manufacturing Capacity - Canadian Premium Sand Inc. is developing manufacturing capacity for ultra high-clarity pattern solar glass, with a facility in Selkirk, Manitoba, expected to produce 6GW of low-carbon solar glass, and a US facility projected to produce 4GW [4]. - The total proposed annual manufacturing capacity of 10GW positions the company to become a leading supplier in North America [4].