Calgary-based sand miner Source Energy Services has filed a preliminary prospectus to list on the Toronto Stock Exchange in a bid to capitalise on the booming proppant market.
Source, which is backed by private equity firm TriWest Capital Partners, is the Canada's largest distributor of frack sand, a key ingredient in completing unconventional oil and gas wells.
In the prospectus filed late on Monday, Source said it would use proceeds from an initial public offering to pay for the acquisition of a new sand facility near Blair, Wisconsin, pay down debt and other capital expenditures.
It
