Select Sands (TSE:SNS) has released an update.
Select Sands Corp. is ceasing operations at its subsidiary, Select Sands America Corp., due to industry downturns, including weak oil and gas activity, lower sales, and an inability to secure additional financing. The company is exploring strategic alternatives to address its current financial challenges and ensure long-term survival. Amidst these challenges, Select Sands has acknowledged its non-compliance with the going concern standard, affecting its financial reporting and filings.
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