Canadian Premium Sand Inc.: Warrant Exercise Boosts Finances, FY2024 Results Show Progress

Canadian Premium Sand Inc. (CPS) has announced the conclusion of its warrant exercise and the release of its fiscal year end 2024 results, marking significant progress for the company. The warrant exercise generated substantial cash proceeds, while the financial results demonstrated the company's commitment to its strategic vision of becoming the largest and preferred supplier of patterned solar glass in North America.



Warrant Exercise Conclusion
The completion of the warrant exercise has significantly bolstered CPS's financial position. A total of 9,206,404 Warrants were exercised at a price of $0.40 per Warrant, generating gross cash proceeds of $3,682,562. This influx of cash will support the advancement of CPS's pattern solar glass manufacturing projects and general corporate purposes. Following the exercise, CPS now has 92,627,156 common shares outstanding. The strong support from large shareholders, board members, and management demonstrates their confidence in the company's strategic direction and future prospects.

Fiscal Year End 2024 Results
CPS's fiscal year end 2024 results reflect the company's progress towards its strategic vision. Key highlights include:

1. Revenue and Financial Performance:
* CPS generated revenue of $1.35 million in 2024, compared to $0 in 2023 and 2022.
* Gross profit was -$0.08 million in 2024, compared to -$0.08 million in 2023 and -$0.08 million in 2022.
* Operating expenses were $13.66 million in 2024, compared to $2.43 million in 2023 and $1.71 million in 2022.
* Net income was -$13.51 million in 2024, compared to -$2.43 million in 2023 and -$1.71 million in 2022.
2. Shares Outstanding and EPS:
* Shares outstanding (basic and diluted) increased to 21 million in 2024 from 12.16% in 2023 and 61.82% in 2022.
* EPS (basic and diluted) was -$0.64 in 2024, compared to -$0.05 in 2023 and -$0.05 in 2022.
3. Free Cash Flow:
* Free cash flow was -$8.71 million in 2024, compared to -$2.48 million in 2023 and -$1.35 million in 2022.
* Free cash flow per share was -$0.41 in 2024, compared to -$0.12 in 2023 and -$0.06 in 2022.
4. Margins:
* Gross margin was -0.08% in 2024, compared to -0.08% in 2023 and -0.08% in 2022.
* Operating margin was -179.79% in 2024, compared to -179.79% in 2023 and -179.79% in 2022.
* Profit margin was -82.51% in 2024, compared to -82.51% in 2023 and -82.51% in 2022.
* Free cash flow margin was -183.65% in 2024, compared to -183.65% in 2023 and -183.65% in 2022.
* EBITDA margin was -178.47% in 2024, compared to -178.47% in 2023 and -178.47% in 2022.
* EBIT margin was -179.79% in 2024, compared to -179.79% in 2023 and -179.79% in 2022.



Strategic Vision for 10GW of Pattern Solar Glass Production
CPS's strategic vision for 10GW of pattern solar glass production aligns with market demand and competition. The Company's low-carbon facility in Selkirk, Manitoba, and its planned jointly owned facility in the U.S. would provide a competitive advantage by offering both low-carbon product and US-manufactured product. By establishing North America's first source of patterned solar glass, CPS aims to facilitate its customers' goal of securing a low-risk and low-carbon solar energy supply chain, further differentiating it from competitors.

In conclusion, CPS's warrant exercise has significantly strengthened the company's financial position and future growth prospects. The fiscal year end 2024 results demonstrate the company's progress towards its strategic vision of becoming the largest and preferred supplier of patterned solar glass in North America. With the support of its shareholders and the alignment of its strategic vision with market demand and competition, CPS is well-positioned to capitalize on the growing demand for patterned solar glass in North America.