Vancouver, September 13, 2021 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or the “Company”), is pleased to announce the appointment of Peter Lacey as an independent member of its Board of Directors, effective immediately.
Peter has a proven track-record of building companies, most notably growing a single John Deere dealership into a leading global company, TSX-listed Cervus Equipment Corporation (“Cervus”). Cervus operates 64 dealerships across Canada, Australia, and New Zealand with 2020 revenue of $1.2 billion. Peter is the founder, the long-time Chairman, and largest shareholder of Cervus, which recently announced that it had agreed to be acquired by Brandt Tractor Ltd. for $19.50 per share in cash, creating one of the largest privately-held dealership groups in the world. The transaction values Cervus at approximately $302 million.
“I am proud to have founded, grown, and provided an exit for our shareholders at Cervus,” states Peter Lacey. “With this chapter of my life closing, I am focusing my current efforts on early-stage companies focused on sustainability and the mitigation of climate change. I am enthused to be both an investor and a director of PLAN and look forward to using my experience in growing another public company.”
PLAN has granted 400,000 stock options to Peter exercisable for a period of 3 years. The options have been granted in accordance with the Company’s stock option plan.
“We are pleased to welcome Peter Lacey and honoured he has accepted our invitation to join our board as we continue to add world-class talent to the Company,” says Steve Harpur, CEO. “Peter’s experience in rolling-up businesses at Cervus will assist PLAN as we grow organically while also evaluating opportunities to grow through potential acquisitions of other natural pozzolan businesses or companies.”
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 Natural Pozzolan Quarry in Cache Creek, 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 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.
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Vice President, The Howard Group
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