Yearly Archives :

2020

PLAN Provides Shareholder Update

PLAN Provides Shareholder Update 150 150 Progressive Planet Inc.

VANCOUVER, BC / August 14, 2020 / Progressive Planet Solutions Inc. (TSXV:PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, is pleased to provide a shareholder update.

Research Partnership with University of Alberta

Throughout the world, fly ash is generated as a by-product of burning coal for electricity generation. Fly ash is used as a supplementary cementing material in blended cement mixes. The supply of fly ash is directly related to the amount of coal which is combusted in power plants which in many parts of Canada, and the world, are scheduled for decommissioning or are already being decommissioned.

In December 2019, PLAN announced a strategic relationship with the University of Alberta to conduct work with respect to improving the slump of the natural pozzolan from its Z-1 Quarry so that it possesses similar rheology to commercially available fly ash.

We have now received the final report from the University of Alberta. The report was originally anticipated in May 2020 but was delayed due to restricted access to University of Alberta’s research facilities due to the Covid-19 pandemic.

The research was focused on improving the rheology of concrete which substituted 20% of Portland Cement with 20% of our proprietary blend of Z-1 Zeolite and pulverized post-consumer glass. The target compressive strength was 30 MPA.

The original testing intended to test both the rheology and the compressive strength of our proprietary blend after 28 days of curing and 56 days of curing.

Final rheology results of the Z-1/pulverized glass blend were superior to the rheology of the fly ash blend.

The 56 day compressive strength tests were unable to be completed due to the restricted access. The second set of cylinders were crushed at 98 days once access was restored. The cylinders had a range of compressive strength from 37 to 41 MPA.

“We were pleased that we were able to exceed the rheology of the benchmark fly ash blend and extremely pleased to see the compressive strength significantly higher than 30 MPA at 98 days. Pozzolanic concrete is known to continue gaining strength over time as it cures and these tests confirmed our belief that we have an excellent product to bring to market once final CSA and ASTM protocol testing is completed,” stated Steve Harpur, CEO.

The CSA and ASTM tests which we expect to complete over the next nine months include the following:

  • Compressive strength (CSA A3004-E1),
  • Alkali-silica reaction (CSA A23.3-28A),
  • Sulphate resistance (CSA A3004-C8),
  • Air void (ASTM C462), and,
  • Freeze thaw resistance (ASTM C666, as referenced in CSA A3004-E1).

Comminution Toll Processing

PLAN has now completed the design and construction of its comminution plant. The plant was built to enable easy disassembly and has functional capability to size reduce rocks from six inches down to 5 microns.

The new plant is expected to deliver its rock powder order next week to a customer in Alberta. The customer owned the product and delivered it for processing. As a result, PLAN has no inventory carrying costs for this third party comminution order.

In addition, our first delivery of rock dust made from our own inventory of glacial moraine will be delivered to a customer in BC next week.

PLAN intends to use this same equipment to produce its proprietary blend of Z-1 Zeolite and pulverized post-consumer glass after it completes final testing of this product.

Resignation of COO

We wish to announce that our COO, Mike Wypych, has resigned his part-time position with PLAN to accept a full-time position as a Mining Engineer. We wish Mike the best in his new position and are grateful for the valuable contribution he made during his time at PLAN.

ABOUT PROGRESSIVE PLANET

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Metals and Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

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 Announces Anomalous Nickel Over a 500 Metre Strike Length at Heffley Creek Property in BC

PLAN Announces Anomalous Nickel Over a 500 Metre Strike Length at Heffley Creek Property in BC 150 150 Progressive Planet Inc.

VANCOUVER, BC / August 5, 2020 / Progressive Planet Solutions Inc. (TSXV:PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, is pleased to announce additional results from its systematic soil geochemical and outcrop sampling program on its precious-base metal and natural pozzolan property in Heffley Creek.

PLAN originally optioned the Heffley Creek Property based on its potential as a source of alumino-silicates as a component of cementitious materials. Canada’s largest cement producer conducted significant work on the property in 1998. The work was focused on defining the quality and quantity of alumino-silicates located on a specific portion of the property. This work included geophysics mapping, geological mapping, topographical mapping, grab sample analysis, a drill program, and alumino-silicate reserve calculations. PLAN has access to this data.

At the time, no deal was reached with the prospector who owned the mineral rights to the property. The property’s mineral rights were maintained by the prospector and other family members until an option was announced with PLAN in Feb 2020. Currently reported sample results include nickel values as high as 3,330 PPM nickel.

A total of 190 soil samples have been collected to date. PLAN has received results for 109 of these samples with 56% of the samples returning values above 300 PPM nickel while 19% of the samples returned values above 1,000 PPM nickel and 6% of the samples returned values over 2,000 PPM nickel.

The soil survey has defined a nickel-in-soil anomaly, greater than 300 PPM nickel, for a strike length of just over 500 metres. The nickel-in-soil anomaly is open along strike to the south and north, plus uphill to the east. A map is attached which shows assay range values and the strike length in the main area of interest.

“I am very pleased with the strike length, the consistency and the grade of the nickel over the entire soil anomaly,” indicated Dwayne Melrose, Director and Technical Advisor for PLAN. “PLAN will continue to extend the soil sampling along strike to the north and south and to the east of the nickel soil anomaly. In addition, we will begin rock sampling in the area of interest to locate a potential bedrock source.”

“Although our initial intent was to systematically test the soil for precious metals, the soil assays to date have now broadened our focus to include searching for nickel. Additional samples of soil and outcrop in the defined nickel-in-soil anomaly have been placed on a rushed testing schedule and we anticipate that our soil geochemistry testing program will continue into the Fall of 2020 until the weather prohibits soil sampling. With the announcement on July 30, 2020 that we had increased our optioned area from 20 claims to 69 claims, we have significantly more ground to explore before winter,” stated Steve Harpur, CEO.

Analyses were completed by the Geochemistry division of ALS Canada. Base metal contents were measured by aqua-regia digestion and analysis on ICP-AES.

The Precious Metals analyses were completed on all samples using fire assay fusion followed by AA finish (Au) or ICP finish (Pt and Pd) to measure gold, platinum, and palladium. Silver was measured using aqua regia digestion.

All samples were grab samples and are not necessarily representative of the mineralization

hosted on the property. PLAN is actively completing additional soil and outcrop sampling and will release additional results as they are received.

Dwayne Melrose, P. GEO, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the contents of this news release.

 

ABOUT PROGRESSIVE PLANET

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Metals and Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

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 Increases Claims at Heffley Creek Precious Metal and Natural Pozzolan Property in BC

PLAN Increases Claims at Heffley Creek Precious Metal and Natural Pozzolan Property in BC 150 150 Progressive Planet Inc.

Vancouver, July 30, 2020 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, is pleased to announce that it has increased the number of claims it has optioned from Jeremy Marlow at its precious metal and natural pozzolan property in Heffley Creek, BC.

The original option included 20 mineral claims. Mr. Marlow staked an additional 49 mineral claims contiguous to the original 20 claims and optioned them to PLAN.

The original agreement was amended to include the new claims. As consideration for the increased option, PLAN covered the cost of staking the new claims and increased the number of days in 2020 for which it would contract Mr. Marlow to complete exploration on the Heffley Creek Property from 28 days to 31 days.

Systematic soil and outcrop sampling activities are ongoing at Heffley Creek and assay results will be reported as they are received.

“I wish to thank Mr. Marlow for completing this transaction whereby PLAN increased the size of its option. It is our intention to evaluate this property for both its pozzolanic and precious metals potential,” stated Steve Harpur, CEO.

Dwayne Melrose, P. GEO, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the contents of this news release.

 

ABOUT PROGRESSIVE PLANET

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning a 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Precious Metals and Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

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 Announces Initial Results and Start of Work On Heffley Creek Precious Metal And Natural Pozzolan Property in BC

PLAN Announces Initial Results and Start of Work On Heffley Creek Precious Metal And Natural Pozzolan Property in BC 150 150 Progressive Planet Inc.

Vancouver, July 23, 2020 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, is pleased to announce that it has commenced exploration work on its precious metal and natural pozzolan property in Heffley Creek, BC and has received initial exploration results.

PLAN has commenced a systematic soil geochemical and outcrop sampling program. The overall program will be a systematic property wide soil geochemical and outcrop sampling program, which will focus on precious metals.  Previous anomalous gold and silver soil samples were reported in PLAN’s February 24, 2020 press release.  The previously reported samples have been confirmed from outcrop immediately below the soil samples with grab samples reporting 0.16 and 0.05 ppm of gold and resampling of the soil horizon resulted in values of 0.28, 0.25 and 0.15 ppm of gold. All sample results received (28 rock samples and 5 soil geochemical samples) are listed and have confirmed the presence of anomalous gold and nickel on the property.

The exploration program is being led by Dwayne Melrose, P. Geo. Dwayne has over 30 years of international mining experience in senior management in Central Asia, China, Africa, and North and South America.  As the former CEO of True Gold Mining, Dwayne oversaw activities including pre-PEA and Bankable Feasibility Study through to a financed, permitted project which commenced construction in under 4 years. As former CEO of Gold Reach Resources, Dwayne oversaw the completion of a positive PEA on the company’s copper project.  As the Exploration Manager at the Kumtor Gold Mine in Kyrgyzstan, Dwayne was instrumental in the discovery of the high-grade SB Zone. Kumtor is now owned by Centerra Gold and has produced over 11.5 million ounces of gold since commencing commercial production in 1997.

“With a stellar international career, we are pleased to have Dwayne involved as both a director of PLAN as well as his involvement supervising the exploration program at Heffley Creek. PLAN optioned this property after reviewing prior exploration work completed on the property in 1999 by the largest cement company in Canada. It was our intention to develop this property as a source of alumino-silicates for use in the production of cementitious products. This is still our intention; however, with the discovery of anomalous gold and nickel in the soil, we also intend to continue testing the soil geochemistry,” stated Steve Harpur, CEO.

“I am very pleased with the initial sampling results to date as they have confirmed the presence of gold and base metals in the bedrock” said Dwayne Melrose, Director and Technical Advisor of PLAN.  “I am looking forward to the summer sampling program progressing and receiving more results from the work”.

Grab samples within the property resulted in nickel values up to 1,885 ppm. See the tables below for the complete list of precious metal and nickel and copper results. Note: Samples with “R” are outcrop grab samples, Samples with “S” are soil geochemical samples.

Analyses were completed by the Metallurgy and Geochemistry divisions of ALS Canada.  Base metal contents were measured by aqua-regia digestion and analysis on ICP-AES.

The Precious Metals analyses were completed on all samples using fire assay fusion followed by AA finish (Au) or ICP finish (Pt and Pd) to measure gold, platinum, and palladium. Silver was measured using aqua regia digestion.

All samples were grab samples and are not necessarily representative of the mineralization hosted on the property. PLAN is actively completing additional soil and outcrop sampling and will release additional results as they are received.

Dwayne Melrose, P. GEO, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the contents of this news release.

 

ABOUT PROGRESSIVE PLANET

 

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Precious Metals and Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

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.

Progressive Planet Announces New Credit Facilities

Progressive Planet Announces New Credit Facilities 150 150 Progressive Planet Inc.

Vancouver, June 01, 2020 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, announces that it has arranged for new credit facilities for up to an aggregate of  $300,000 in principal amount from the Bank of Montreal.

The facilities include a fixed rate term loan for up to $200,000 to finance the purchase of equipment to increase PLAN’s capacity to produce fine rock powders (comminution) from both its own mineral assets as well as the ability to complete toll processing contracts for third parties. This loan is for a five-year term with an interest rate equal to prime plus 3%.

In addition, Bank of Montreal has provided an Operating Demand Loan of up to $100,000 with an interest rate of prime plus 2.5%.

Both loans have been personally guaranteed by Mr. David Richardson, the controlling shareholder of Progressive Planet. As consideration for guaranteeing the loan, PLAN intends to issue a total of 6 million non-transferable warrants to Mr. Richardson. The exercise price is set at $0.05 per warrant with 2 million warrants having a term of one year and 4 million warrants having a term of 3 years, subject to acceleration if and as any indebtedness is repaid on the fixed rate term loan, in accordance with TSXV policies.  Issuance of the warrants is subject to TSXV approval.

“We wish to thank Mr. Richardson for his continued commitment to Progressive Planet. This debt financing will assist PLAN in its move towards monetizing its natural pozzolan assets from the Z-1 Quarry near Cache Creek, BC while also enabling PLAN to begin generating revenue from third party comminution toll processing. Mr. Richardson began investing in Progressive Planet in early 2018 and has remained a supporter of our vision to create pozzolan-based cementitious products,” stated Steve Harpur, CEO.

 

ABOUT PROGRESSIVE PLANET

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

 

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.

Progressive Planet Announces Stock Options

Progressive Planet Announces Stock Options 150 150 Progressive Planet Inc.

Vancouver, May 25, 2020 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, announces the grant of up to 950,000 options that will be granted to five insiders, one employee and one consultant of the Company, exercisable at a price of $0.05 for a period of two years from the date of grant.

The options have been granted in accordance with the Company’s stock option plan.

 

ABOUT PROGRESSIVE PLANET

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

 

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.

Progressive Planet Announces Scientific Advisor

Progressive Planet Announces Scientific Advisor 150 150 Progressive Planet Inc.

Vancouver, May 22, 2020 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, is pleased to announce the appointment of Dr. Doug Brown as a Scientific Advisor, effective immediately.

Doug is a Materials Scientist with over a decade of experience in the research and development of next-generation green technologies. Doug holds several patents, is the author of multiple peer-reviewed publications, and has received numerous academic, industry and research awards. Upon completing his B.Sc. in Chemistry at McGill University, Dr. Brown began working with David Keith and the team that founded Carbon Engineering (CE). In this role, Dr. Brown led significant research efforts relating to capturing carbon dioxide directly from the atmosphere. Investors in CE include Bill Gates, Murray Edwards, Chevron Technology Ventures, and BHP.

Doug holds a Ph.D. in Chemistry from the University of Calgary which he received in 2017. Since that time, Doug has worked in the private sector in the field of green building technologies. Doug has a proven track record of attracting funding for research and commercialization of technologies. Doug is also a board member of the Canadian Green Building Council (AB Chapter).

”Doug’s passion for sustainable technology and his proven track record in advancing early stage technologies is a tremendous benefit to Progressive Planet. As we focus on developing lower carbon footprint cementing products, Doug will be a trusted advisor in all our product development initiatives,” stated Steve Harpur, CEO.

 

ABOUT PROGRESSIVE PLANET

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

 

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.

Progressive Planet Announces New Director

Progressive Planet Announces New Director 150 150 Progressive Planet Inc.

Vancouver, May 20, 2020 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, is pleased to announce the appointment of Mr. Scott Jenkins as an independent member of its Board of Directors and member of its Audit Committee, effective immediately.

Scott has decades of experience with private and public technology companies as an executive and director. He is currently the President and CEO of ZS2 Technologies Ltd. Scott was previously the president of DIRTT Environmental Solutions Ltd., a TSX listed company whose annual revenues grew from $20 million to $297 million during Mr. Jenkins time there. Mr. Jenkins also served as a director of DIRTT for four years until December 2017. Scott is a Chartered Professional Accountant (CPA, CA) and a member of the Young Presidents’ Organization.

“Scott brings both private and public company experience to PLAN and understands the effort required to bring new products to the marketplace,” stated Steve Harpur, PLAN’s CEO. “Further, his experience and strategic relationships in the construction industry will benefit PLAN as we continue our efforts to introduce a competitive product to fly ash using our natural pozzolan assets to replace carbon intensive ingredients used in the production of Portland Cement.”

 

ABOUT PROGRESSIVE PLANET

Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.

 

 

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 Closes Non-Brokered Private Placement

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

May 12th, 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, announces that, further to its news release dated April 23, 2020, the Company has closed its non-brokered private placement comprising of 6,784,000 units at $0.03 per unit, for total proceeds of $203,520.

Each unit comprises one common share and one-half of a share purchase warrant, with each whole entitling the holder to purchase an additional common share of the Company for $0.05 a share on or before May 12th, 2021. The Company may accelerate the expiry date of the 3,392,000 Warrants by giving written notice to the holders thereof, and in such event the Warrants will expire on the 30th day after the date of such notice. Securities will bear legends restricting resale until September 13th, 2020.

The Company will use the proceeds from private placement for general working capital, equipment procurement and to repay unsecured indebtedness owing by the Company to David Richardson, a controlling shareholder of the Company.  See the Company’s news release dated April 23, 2020 for further details.

Insiders purchased an aggregate of 4,134,000 units totaling $124,020. There were no finder’s fees paid with respect to the private placement.

 

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 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.

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