Canadian Premium Sand Inc. Announces Extension of Warrants Page 1

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

CALGARY, Alberta, August 23, 2024 (GLOBE NEWSWIRE) — Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to announce that it intends to expiration of an aggregate of 26,494,908 warrants (the “Commands“) to purchase a total of 26,494,908 ordinary shares (“Ordinary shares“) of the Company. The warrants were issued pursuant to a private placement unit offering that closed on August 31, 2022 and is currently set to expire on August 31, 2024. The Company intends to extend the expiration date by 4 months to December 31, 2024. All other terms of the warrants, including the exercise price of $0.40 per common share, remain unchanged.

In the event that the 30-day volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (the “TSXV“) is equal to or greater than $0.90 per common share, the Company may advance the expiration date of the Warrants by giving notice thereof to the holders. In such event, the Warrants shall expire on the 30th day after the date on which the Company gives such notice.