Canadian Premium Sand Inc. (“CPS” or the “Company”) announced that it has entered into a non-binding letter of interest with Hi-Crush Inc. (“Hi-Crush”). Letter of interest: The Company entered into a non-binding letter of interest with Hi-Crush on December 6, 2019, which outlines the key terms for Hi-Crush to assist in the design and construction of the Project. This includes sharing of Hi-Crush’s expertise in plant design, construction and operations through their NexStage™ equipment business. A variety of plant configurations for the Project are being jointly investigated, with the aim of a substantial reduction in capital cost while implementing the most cost-effective operational solution. The strategic relationship also addresses terms of a supply arrangement for CPS to continue delivering Northern White Sand into Western Canada that will be procured at agreed upon rates from Hi-Crush’s existing production facilities. The final terms and structure for a transaction between the Company and Hi-Crush is subject to negotiation of definitive documentation, completion of customary due diligence and receipt of any required regulatory approvals. A comprehensive news release will be issued if and when the Company and Hi-Crush enter into a definitive transaction.