Canadian Premium Sand Inc. Announces Inaugural Option Grants Under Its New Omnibus Equity Incentive Compensation Plan
Canadian Premium Sand Inc. Announces Inaugural Option Grants Under Its
New Omnibus Equity Incentive Compensation Plan
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF
AMERICA
CALGARY, Alberta, April 25, 2022 -- Canadian Premium Sand Inc. ("CPS" or the "Company") (TSXV: CPS) is
announcing the inaugural grant of share options ("Options") to acquire common shares ("Common Shares") under its new
omnibus equity incentive compensation plan (the "Plan"). The Plan’s objective is to create an incentive compensation program
that is aligned with the Company’s long-term objectives. The Options are granted in accordance with Policy 4.4 – Security
Based Compensation of the TSX Venture Exchange (the “Exchange”) and the terms and conditions of the Plan.
The Plan provides for a "rolling" number of Options, Restricted Share Units ("RSUs"), Deferred Share Units ("DSUs"),
Performance Units ("PSUs") and other share-based awards that may be issued under the Plan of up to a maximum of ten
percent (10%) of the Company's issued and outstanding share capital from time to time. In no event will the maximum number
of Common Shares of the Corporation available for issuance under the Plan exceed ten percent (10%) of the Corporation's
issued and outstanding Common Shares from time to time, less the number of Common Shares reserved for issuance under
all other security-based compensation arrangements of the Corporation.
The Plan replaces the Company's previous Stock Option Plan and RSU Plan. Accordingly, the Company has terminated the
Option Plan and the RSU Plan and all outstanding stock options of the Company granted under the Option Plan, being
2,065,000 stock options, will be governed by the Plan on substantially the same terms.
The Plan was conditionally accepted, subject to final acceptance, by the Exchange on February 18, 2022 and approved by the
Company's shareholders at the Company's annual and special shareholder meeting held on March 31, 2022 (the "Shareholder
Meeting").
The principal terms of the Plan are summarized in the management information circular filed in connection with the
Shareholder Meeting and which is available under the Company's profile on SEDAR at www.sedar.com. A copy of the Plan is
also attached as Schedule "B" to this information circular.
With the adoption of the Plan, the Company announces the grant of 1,050,000 Options, including 400,000 granted to its
independent directors and 600,000 to its executive officers with the balance granted to employees and consultants. The
Options are exercisable at $0.42 per Common Share expiring April 25, 2027. As of the date hereof, there are 45,615,660
Common Shares issued and outstanding, and therefore, a maximum of 4,561,566 Options, RSUs, DSUs, PSUs and other
share-based awards that may be issued under the Plan on a combined basis are issuable under the Plan, of which an
aggregate of 3,115,000 Options have been granted.
About Canadian Premium Sand Inc.
The Company is developing manufacturing capacity for ultra high-clarity solar glass through a Company-owned facility to be
located in Selkirk, Manitoba that utilizes the high-purity, low-iron silica sand from its wholly owned Wanipigow quarry leases
and renewable Manitoba hydroelectricity. The Company is a reporting issuer in Ontario, Alberta and British Columbia. Its
shares trade on the TSXV 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 Cam Deller
President and Chief Executive Officer Chief Financial Officer
[email protected] [email protected]
Investor Relations
587.355.3714
www.cpsglass.com