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      Paramount Resources Ltd. Acquires Additional Securities of Canadian Premium Sand Inc.

      This press release is being issued pursuant to section 5.2 of National Instrument 62-104 -Take-Over Bids and Issuer Bids.

      CALGARY, AB, April 10, 2026 /CNW/ - Paramount Resources Ltd. ("Paramount") has acquired $275,000 in principal amount of 12.0% secured convertible debentures (the "2026 Convertible Debentures") of Canadian Premium Sand Inc. ("CPS"). The acquisition was made as part of a private placement completed by CPS on April 9, 2026 (the "Private Placement").

      The 2026 Convertible Debentures mature on February 26, 2027. The principal amount of the 2026 Convertible Debentures may be converted at the option of the holder into common shares of CPS ("Common Shares") at any time prior to maturity at a conversion price of $0.15 per Common Share. Concurrently with the completion of the Private Placement, CPS amended the terms of its outstanding 12.0% secured convertible debentures previously issued in February 2020 (the "2020 Convertible Debentures") to reduce the conversion price thereof from $0.75 per Common Share to $0.15 per Common Share (the "Conversion Price Adjustment"). Accrued interest on the 2020 Convertible Debentures and the ...

      Full story available on Benzinga.com


      Source: Benzinga
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