CALGARY, Alberta, April 27, 2026 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. ("CPS" or the "Company") (TSXV: CPS) announces the grant of an aggregate of 1,300,000 share options ("Options") to acquire common shares ("Common Shares") of the Company. The Options have been granted to CPS' executive officers and employees in accordance with the provisions of its omnibus equity incentive compensation plan (the "Plan").
The Options are exercisable at $0.12 per Common Share expiring April 24, 2031. As of the date hereof, there are 92,627,156 Common Shares issued and outstanding, and therefore, a maximum of 9,262,715 Options, RSUs, DSUs, PSUs and other share-based awards on a combined basis are permitted to be granted under the Plan, of which an aggregate of 6,097,000 Options are outstanding.
After consideration of the Company's historical compensation practices and retentions needs, the desire for alignment of employee and shareholder interests, CPS's annual Option grant practices and the previously disclosed strategic review process, the special committee of the independent directors of the Company (the "Special Committee") (of which no Options will be granted to the members thereof) determined that the grant of Options will promote management continuity and operational stability while the Company evaluates a range of strategic alternatives. The Special Committee also determined that the grant of Options are not intended to influence the outcome of the strategic review and that the terms and timing of the grant of Options are consistent with historical compensation practices and applicable legal and regulatory requirements. Further, the vesting of the Options is conditioned on continued service and is not contingent upon the consummation of any specific transaction, and the Company has not made any determination regarding the likelihood, timing, or form of any potential strategic outcome.
About Canadian Premium Sand Inc.
The Company is developing its Wanipigow silica sand resource in Manitoba to supply fracture proppant to the Western Canada Sedimentary Basin along with other applications for high purity and low iron silica sand including the manufacture of solar and float glass. The Company is a reporting issuer in Ontario, Alberta and British Columbia. Its shares trade on the TSX Venture Exchange under the symbol "CPS".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Canadian Premium Sand Inc.
Glenn Leroux
President and Chief Executive Officer
glenn.leroux@cpsmail.com
Investor Relations
IR@cpsmail.com
587.355.3714
www.cpsglass.com
