Select Sands Faces Foreclosure and Asset Auction

Select Sands (TSE:SNS) has released an update.

Select Sands Corp. is facing significant financial challenges after its primary lender, First Community Bank, initiated foreclosure proceedings due to missed loan payments. The company’s physical assets have been auctioned to cover a debt of nearly $12 million, leaving the company without operations or cash reserves as it explores options for its remaining non-physical assets.

For further insights into TSE:SNS stock, check out TipRanks’ Stock Analysis page.