This Week’s Market Buzz
Published: Thursday, 10 September 2015 21:27
- North America Frac Sand Inc., Calgary, Alberta, Canada, has entered into a share exchange agreement to acquire 100 percent of the issued and outstanding shares of North America Frac Sand (CA) Ltd. through the issuance of 37.8 million shares of the company. The acquisition will be completed upon North America Frac Sand (CA) Ltd. providing additional due diligence which will include confirmation that there are at least 6.4 million tons of recoverable reserves of frac sand, and potential reserves of at least 66 million tons, on or before Oct. 15. With more than 30,000 acres of leases, it is the company's intent to prove out the balance of its significant resource of frac sand. The company intends to commence mining operations and shipments as soon as possible.
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