Monthly Archives :

April 2020

PLAN Announces Non-Brokered Private Placement

PLAN Announces Non-Brokered Private Placement 150 150 Progressive Planet Inc.

April 23rd, 2020, VANCOUVER, B.C. – PROGRESSIVE PLANET SOLUTIONS INC. (PLAN-TSX:V) (“Progressive Planet”, “PLAN” or the “Company”), a developer of natural pozzolan properties in BC, Canada, wishes to announce that it intends to proceed with a financing totaling $360,000 of up to 12,000,000 units.

The financing consists of a non-brokered private placement of $360,000 for 12,000,000 units @ $0.03 per unit with each unit consisting of one share and one-half warrant. Each warrant entitles the holder to acquire one common share of the Corporation for a period of 12 months following the closing date, at an exercise price of $0.05 per warrant share, subject to an acceleration clause if the shares trade at $0.08 or more for a period of ten consecutive trading days following the completion of the four month holding period.

The financing is subject to individual minimum subscriptions of $3,000, but the overall financing is not otherwise subject to any minimum aggregate subscription.

Subject to certain limitations discussed below, the financing is open to all existing shareholders of the Company as at April 23, 2020, in reliance on the “Existing Shareholder Exemption” pursuant to BC Instrument 45-534. The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless the subscriber has obtained advice from a registered investment dealer regarding the suitability of investment.  In addition, other investors who qualify under available prospectus exemptions will be allowed to participate in the financing.  Existing shareholders of the Company are directed to contact the Company for further information.

If subscriptions received for the financing based on all available exemptions exceed the maximum amount of $360,000, subscriptions will be accepted at the discretion of the Company on a pro rata basis.  It is thus possible for a subscription received from a shareholder may not be accepted by the Company if the financing is over-subscribed.

Assuming the financing is fully subscribed, the Company intends to allocate the proceeds as follows: $210,000 for general working capital, $100,000 for equipment procurement, and $50,000 to retire debt supplied by a company owned by the controlling shareholder of the company, Mr. David Richardson.

Although the Company intends to use the proceeds of the financing as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities.  If the financing is not fully subscribed, the Company will apply the proceeds to the above uses in priority and in such proportions as the Company’s board of directors may determine is in the best interests of the Company.

As required by Temporary Relief Bulletin issued by the TSX Venture Exchange on April 8, 2020, the company wishes to state that the majority of the funds will not be used to pay management fees or investment relations fees. Additionally, in accordance with BC Instrument 45-534, the Company confirms there is no material fact or material change related to the Company which has not been generally disclosed.

There are currently 26,854,711 common shares issued and outstanding before giving effect to the current financing.

Finders’ fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.  This offering is subject to TSX Venture Exchange acceptance. All securities issued under the Post-Consolidation financings are subject to a statutory four month hold period.

 

Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest on the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC.

 

ON BEHALF OF THE BOARD

Signed “Stephen Harpur”

Stephen Harpur, CPA, CGA, CEO

 

For further information or investor relations inquiries, please contact us:

1-800-910-3072
[email protected]
www.progressiveplanet.ca

 

Forward-Looking Statements:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

PLAN Achieves Technical Milestone on Fly Ash Alternative

PLAN Achieves Technical Milestone on Fly Ash Alternative 150 150 Progressive Planet Inc.

April 20th, 2020, VANCOUVER, B.C. – PROGRESSIVE PLANET SOLUTIONS INC. (PLAN-TSX:V) (“Progressive Planet”, “PLAN” or the “Company”), a developer of natural pozzolan properties in BC, Canada, is pleased to announce that its project to modify the rheology of zeolite from the Z-1 Zeolite Quarry has been successful.

On December 9, 2019, PLAN announced that it had signed an agreement with the University of Alberta to develop an alternative to fly ash for use in the cement industry. The project was to end on April 30, 2020. The goal of the project was to modify the rheology of its zeolite so that it possessed similar rheology to commercially available fly ash.

On March 10, 2020, PLAN released a shareholder update which disclosed that the rheology (slump) had been improved with a combination of various inputs which will remain proprietary; however, one input in the blend which was disclosed was pulverized, recycled glass.

PLAN is pleased to announce that it has received an additional update from the University of Alberta which revealed that our revised proprietary mix design achieved a slump that has exceeded the target slump of the fly ash based mix design.

“We are extremely excited to see the objective of this research project achieved. We will receive a final report at the end of April or shortly thereafter. The final step before having a product for commercial use is to conduct CSA tests on our proprietary blend.” stated Steve Harpur, CEO of PLAN.

The CSA tests which need be completed include Compressive Strength, Alkali-silica Reaction, Sulphate Resistance, and Freeze-thaw Resistance. In addition, one ASTM test will be completed to analyze air voids.

The longest test is the Sulphate Resistance and this test has a duration of 8 months. As a result, the company will be targeting the 2021 construction season to have a commercial product that it can offer as a competitive alternative to fly ash to the ready mix and pre-cast concrete industries in BC and Alberta.

 

Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% option on the Z2 Natural Pozzolan Property near Falkland, BC and a 100% interest in Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC.

 

ON BEHALF OF THE BOARD

Signed “Stephen Harpur”

Stephen Harpur, CPA, CGA, CEO

 

For further information or investor relations inquiries, please contact us:

1-800-910-3072
[email protected]
www.progressiveplanet.ca

 

Forward-Looking Statements:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

error: