Canadian Premium Sand Inc. has secured firm commercial off-take agreements with three North American solar panel manufacturers including, Hanwha Solutions Corporation (Hanwha), Heliene Inc. (Heliene) and Meyer Burger Technology AG (Meyer Burger), for a combined total of 62% of planned output capacity and an average renewable contract term of over 4 years. These agreements include options to increase firm off-take volumes by an additional 15% of planned output capacity to a combined total of 77%, subject to mutual agreement. To further complement these contracted volumes, the Company is negotiating additional firm off-take agreements with nine other solar panel manufacturers.

The company has executed MOUs with these counterparties that represent an additional 170% of total planned output capacity and expects to convert several of these MOUs into formal off-take agreements such that 100% of planned output capacity is contracted to further de-risk the project.