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North America Frac Sand, Inc. (NAFS)
North America Frac Sand, Inc. is a development stage company listed on the OTCQB. It owns renewable land leases with the right to extract frac sand from significant mineral deposits situated in Saskatchewan, Canada. Frac Sand is a proppant used in the oil and gas industry as a part of the hydraulic fracturing process - a method to increase flow to the wellhead. North America Frac Sand has 39,000 acres of contiguous frac sand leases. North America Frac Sand is based in North Vancouver, British Columbia.
On September 9, 2015, North America Frac Sand announced the acquisition of North America Frac Sand (CA) Ltd. and its acres of leases. On February 29, 2016, North America Frac Sand announced completion of the due diligence required preceding the decision to close on the acquisition of North America Frac Sand (CA) Ltd. (NAFS-CA). North America Frac Sand's short-term intention is to prove out the balance of its major resource. Its long-term intention is to start shipments of frac sand as soon as possible.
Pertaining to frac sand, it must have specific characteristics. This includes reaching certain levels of crush resistance, sphericity, as well as roundness. Consequently, it is a relatively rare commodity. North America Frac Sand has established relationships with all the major well service companies. This includes several large oil & gas companies. The company also has government and municipality support.
The company's strategy is to attain a significant presence in the frac sand industry through developing a long term, high quality, and secure supply of frac sand for the oil & gas industry in Western Canada and the Northwestern U.S.
Furthermore, its strategy is to develop and maximize the mineral deposit under its land and optioned leases, and develop a long-term relationship with well service and oil & gas companies, which focuses on quality service and product. Additionally, the company's strategy involves providing a year-round supply of frac sand to customers.
Recently, North America Frac Sand's Chief Executive Officer, Mr. David Alexander, confirmed that the company engaged Norwest Corporation to complete a NI-43-101 report. The purpose of the report is to evaluate the quantities and quality of the mineral resources on North America Frac Sand's frac sand leases positioned in Saskatchewan.
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