Progressive Planet Finalizes 50% Purchase of Bromley Creek Mine with International Zeolite Corp.

Bromley Creek Zeolite BC

Kamloops, August 3, 2022, – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), a dominant manufacturer of agricultural, household and industrial products whose pioneering blue-sky tech turns post-consumer glass into high-performance cement using CO2 sequestration, is pleased to announce finalization of our amended agreement with International Zeolite Corporation (IZ)  to purchase 50% interest in IZ’s Bromley Creek Zeolite Mine. The agreement creates a systematic payment schedule over the next 5 years.

The amended agreement outlines the payment details for the 50% interest for $725,000. $101,933.76 has already been paid to IZ, with PLAN now holding a 7.03% interest in the Bromley Creek Zeolite Mine, located in Princeton, British Columbia. The remaining $623,006.24 is payable in 20 equal quarterly installments to March 2027, for the remaining 42.97% interest. In addition, IZ will receive a net royalty payment of $4.50 per metric tonne of product mined and removed from the mine. Progressive Planet Products remains the operator of the Bromley Creek Mine.

The amended agreement also formalizes the option granted to PLAN by International Zeolite to acquire up to a 50% interest in a separate group of mineral claims known as the “Sun Group” also located in Princeton, British Columbia, for an additional purchase price of $725,000.00, exercisable until July 26, 2027. To date, PLAN has acquired a 2.5% interest by paying $36,250.00.  PLAN has operated the Bud Bentonite Mine, also near Princeton, for over 24 years, so Princeton is a major operational hub for PLAN.

“With the Canadian government’s recently announced efforts to reduce greenhouse gas emissions from fertilizer use, zeolite holds massive potential for development of slow-release fertilizers and fertilizer optimization,” says Stephen Harpur, CEO of PLAN.

Prior to 2021, Progressive Planet’s zeolite sales comprised a small portion of our revenue. Since then, sales are increasing and one of PLAN’s top-10 customers now purchases Z-Lite™ Feed Additive in 25-tonne truckloads.  Zeolite is also the major component of Hydr8™ Soil Amendment, which PLAN co-packages in partnership with EcoHealth Industries of White Rock, BC.

“The purchase of 50% of the Bromley Creek Zeolite Mine signifies PLAN’s commitment to developing zeolite-based fertilizer and soil-amendment products,” says Ian Grant, COO of PLAN. “We have a world-class development team, which is evaluating the efficacy of the Bromley Creek zeolite as a component of nitrogen, phosphorous and potassium fertilizer blends.”

Progressive Planet Announces Acceleration of Warrants

Progressive Planet Products Kamloops

Kamloops, July 27, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), a dominant manufacturer of agricultural, household, and industrial products introducing blue-sky tech that turns post-consumer glass into high-performance cement using CO2 sequestration, announces that is providing notice by way of press release to the holders of warrants issued under the Company’s private placement of units which closed on January 20, 2021, exercisable at $0.15 per share.   The expiry date of such Warrants has now been accelerated, such that such Warrants will expire at 5:00PM (Pacific Standard time) on August 26, 2022, being that date, which is thirty (30) days from today’s date of July 27, 2022.

The shares of Progressive Planet Solutions have closed at a price higher than $0.25 per share as quoted on the TSX Venture Exchange (the “Exchange“) and also on all other securities exchanges, quotation systems and markets on which the common shares are listed and where a majority of the trading volume of such common shares occurs) for a period of ten (10) consecutive trading days from today’s date.  In accordance with the terms of the Warrants, PLAN is accelerating the expiry date of aforementioned Warrants, which was originally January 20, 2023.

Funds received from warrant holders who chose to exercise their warrants before their accelerated expiry will be used to fund the purchase of industrial scale equipment used to produce PozDE™ SCM as well as additional equipment used to make non-chemical fertilizers and soil amenders and for general working capital.

PLAN ordered an industrial scale disk pelletizer in May 2022 and is expecting receipt of this new piece of equipment in August 2022. The disk pelletizer will be used to make non-chemical fertilizer and soil amender pellets.

Since announcing our first order to blend a non-chemical soil amender for Eco Health Industries Ltd. (“Eco Health”) on July 5, 2022, PLAN has received two additional orders from Eco Health to blend Hydr8™ Soil Amendment – a combination of biochar, zeolite sourced from the Bromley Creek Mine, and humates. The addition of Hydr8 to native soils increases the viability of transplants and improves plant resistance to drought and stress. The first additional order is for a BC municipality in the Lower Mainland for use in urban forestry. The second additional order is for a well-known winery located in the Naramata Bench.

“With the current heat domes experienced right now in BC, PLAN is pleased to be making a product for Eco Health Industries which is designed to address soil compaction and to improve water use,” stated Steve Harpur, CEO of PLAN.

Progressive Planet Announces Patent Application Filing for PozGlass™ 100G

Kamloops, July 20, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), a dominant manufacturer of agricultural, household, and industrial products whose blue-sky tech that turns post-consumer glass into high-performance cement using CO2 sequestration, announces filing of a 156 country PCT patent application (PCT/CA2022/05111) (the “Application”) for a method of improving the properties of ground glass pozzolan. The Application claims priority to, and benefit of, United States provisional patent application No. 63/222912 filed July 16, 2021.

Concrete is the most widely used building material in the world. The production of Portland cement (the binder in concrete) generates approximately 8% of the world’s greenhouse gas emissions.

Ground glass pozzolan (finely ground post-consumer glass) has historically been used to replace up to 30% of cement in concrete to improve the performance characteristics and reduce its carbon footprint; however, it contains sodium. Sodium is an undesired material in concrete. When sodium is reduced, the ground glass pozzolan is stronger and better able to reduce alkali-silica reactivity (ASR). PLAN’s patent application describes a process where PozGlass™ 100G permanently sequesters CO2 while reducing sodium. The end-product is a ground glass pozzolan with a low carbon footprint, better strength, and better resistance to ASR.

“Having moved production in-house with the commissioning of the PozGlass 100G Demonstration Plant in June, results came down to the wire with our best results to date coming just 4 days prior to our application deadline of July 16,” said Ian Grant, COO of PLAN. “Being able to include these results in the patent was significant and couldn’t have happened without the sacrifices and extra efforts of our team. We are excited about the future of PozGlass 100G and proud of our in-house team of engineers, scientists, technicians, millwrights, and management which worked tirelessly to meet this patent deadline at the same time that we scaled up from lab scale to our bench scale system at our head office in Kamloops, BC.”

The next phase towards commercialization will increase the production rate of PozGlass 100G from bench to pilot scale. During pilot, PLAN will measure parameters such as:

  • How fast we can process the post-consumer glass;
  • Total energy consumed in production;
  • Total CO2 sequestered by the process; and,
  • Concrete performance.

PLAN will test several equipment options at each stage of the process to ensure maximum optimization and finalize plant design. The pilot scale project is projected to take 9 months.

Progressive Planet Announces Update on Regenerative Fertilizer and Soil Amendment Production

custom fertilizer blending

Kamloops, July 5, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), a disruptive innovator for cement and agricultural tech, announces expansion into custom-blended regenerative fertilizers and soil amendments using new specialty-blending equipment.

PLAN has performed seasonal, single-ingredient toll-processing of regenerative fertilizer powders since August 2020 at its pilot plant. The pilot plant has now been fully disassembled with all industrial-sized equipment moved to Kamloops.

Utilizing new blending equipment that came fully paid for with the acquisition of Absorbent Products, PLAN can now uniformly mix up to 20 tonnes per hour of multi-ingredient custom fertilizer powders to exact customer specifications.

Custom blends of fertilizers are applied at different times and for a variety of desired outcomes. For example, Hydr8™ Soil Amendment is a combination of biochar, zeolite, and humates in one easy to apply blend. The addition of Hydr8 to native soils increases the viability of transplants and improves plant resistance to drought and stress. This week, PLAN commenced first commercial production of Hydr8 in partnership with Eco Health Industries Ltd. (“Eco Health”).

“We developed Hydr8 in our own lab with small-scale trials over the last three years. After receiving our first commercial order from a famous 40-year-old winery in the Okanagan, we searched for a company to blend Hydr8 at scale. We attended the premises of Progressive Planet Products to witness the blending of Hydr8 and were impressed with the throughput and quality of their new blending equipment,” stated Darcy Lepine, co-owner of Eco Health. “The blending equipment gives me great confidence that Progressive Planet Products can scale processing of this exciting new product for our company without us having to invest in new equipment ourselves.”

The next phase of product offerings will be the ability to convert fertilizer powders into pellets to enable application of specialty fertilizer pellets using traditional broadcast fertilizer spreaders. To enter the pelleted fertilizer market, PLAN ordered a 16-foot-wide disc pelletizer in May 2022 and expects delivery of this pelletizer in August 2022 with plans to begin producing both single-ingredient and custom-blend regenerative fertilizer pellets in Fall of 2022.

Progressive Planet Announces Top Selling Product Approved For Use In Canadian Organic Production

Activated Barn Fresh

Kamloops, June 29, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), a disruptive innovator for cement and agricultural tech, is pleased to announce its top selling product, ACTIVATED BARN FRESH™ Poultry Litter Ammonia Control (theProduct”), appears in the Organic Materials Review Institute (“OMRI”) Canada Products List© as of June 1, 2022, confirming it can be used in certified organic production in accordance with the Canadian Organic Standards.

ACTIVATED BARN FRESH™ is the only organic-appropriate acidifier used to reduce ammonia in commercial broiler barns (patent US11089760B2). Previously approved for use in US Organic Production, more than 90 million chickens in the US breathe easier and live healthier lives each year because of ACTIVATED BARN FRESH. An OMRI Canada listing opens ACTIVATED BARN FRESH for sale to organic broiler producers in Canada for the first time.

“Canadians consume more chicken than any other meat protein, and to fill that demand Canadian producers raise more than 750 million chickens each year”, explained Steve Harpur, CEO of PLAN. “As farming intensity increases, producers need new tools to keep their birds healthy while also mitigating environmental impacts both inside and outside the barn. ACTIVATED BARN FRESH does just that and as a result is our top selling product.”

In addition to ACTIVATED BARN FRESH, FRESH COOP™ Odour Control appears in the OMRI Canada Products List© as of June 9, 2022. FRESH COOP (patent CA2890146C) is a deodorizer specifically for backyard chicken coops that eliminates harmful ammonia odours and results in a safer environment.

“As more and more Canadians take steps to ensure food security for their households, the popularity of backyard poultry has increased to include major urban centers,” said Barry Baker, Director of Sales at Progressive Planet Products.

PLAN now holds 32 OMRI listings for use in organic and conventional agriculture practices.

Progressive Planet Unveils New, High-Performing Pozzolan Made From Unique Mineral Asset

Kamloops, June 7, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), a disruptive innovator for cement and agricultural tech, is pleased to announce PozDE™ SCM, PLAN’s new supplementary cementitious material (SCM) made from diatomaceous earth (DE) that has received exceptional initial test results.

PozDE is produced solely from material sourced from PLAN’s flagship Red Lake Mine, just 56 km from its head office in Kamloops, BC. The DE is a unique blend that includes calcium bentonite and is one of two mines in the world which contain diatomaceous earth with calcium bentonite, and the only one in North America.

In initial ASTM C311 tests under the direction of Dr. Michael Thomas, PozDE registered a 7-day Strength Activity Index (SAI) value of 101% and a 28-day SAI value of 120% compared to the Portland cement control. Additionally, PozDE registered at 98% water-demand indicating less water to achieve an equivalent flow to the Portland cement control.

“Concrete producers want SCMs that increase performance of their mix while lowering their carbon footprint, without sacrificing workability. It is uncommon to see SCMs exceed the 7-day strength of the control Portland, so we are excited to see better strength while indicating lower water demand” said Ian Grant, COO of PLAN.

In 2021, PLAN’s subsidiary, Progressive Planet Products Inc. (formerly Absorbent Products Ltd.), processed 30,000 tonnes of DE from its Red Lake Mine, creating a large supply of powder as a byproduct. Historically, much of this powder was extruded to make more rock, a step requiring high energy to extrude, dry, and re-crush the rock. Using the powder byproduct as a SCM offers an excellent growth vertical for PLAN.

Based on the exceptional ASTM test results, PLAN is now focused on commercializing two SCMs:
PozDE™, which is made from 100% diatomaceous earth from the Red Lake Mine; and,
PozGlass™ 100G, which is made from 100% post-consumer glass using a patent pending process which also sequesters CO2 during the production process.

No further work will be conducted on blending glass with natural pozzolan and no further SCM work will be completed on natural pozzolan from the Z1 Quarry as the PozDE has superior attributes and the DE powder is already created as a byproduct of the legacy business of Progressive Planet Products Inc.

About Progressive Planet
Progressive Planet is a B2B disruptive tech innovation company providing circular solutions using micronized minerals for cement and agricultural sectors. PLAN is developing and producing a portfolio of proprietary solutions focused on sequestering CO2 and minimizing the carbon footprint of our customers.

For further information or investor relations inquiries, please contact us:
1-800-910-3072
[email protected]
www.progressiveplanet.ca

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.

Forward-Looking Statements:
This news release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward looking information is typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” and similar expressions, or are those that, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including but not limited to: the Company’s ability to complete the acquisition as described; the Company’s ability to complete the proposed private placement; the general state of the industry in which the Company operates; the state of financial markets generally; and other risks and factors that the Company is not aware of at this time.

Progressive Planet Promotes Ian Grant to Chief Operating Officer

Progressive Planet Products Inc

Kamloops, May 9, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), a disruptive innovator for cement and agriculture, is pleased to announce the promotion of Ian Grant to Chief Operating Officer.

The promotion of Mr. Grant comes on the heels of the Company completing its successful acquisition and integration with Absorbent Products Ltd. and its expansion of regenerative fertilizer operations. The Company is also pleased to announce that, effective May 2, 2022, Absorbent Products Ltd has changed its name to Progressive Planet Products Inc, with a brand transformation rolling out over the next few months that will bring exciting new opportunities for growth.

Previously serving as Vice President of Business Development, Grant brings years of leadership and industry experience to the COO position driving commercialization of PLAN’s initiatives in the low-carbon cement and regenerative fertilizer industries while collaborating with executive team members.

In his new role, Mr. Grant will work closely with CEO Steve Harpur to oversee operations and development of its micronized mineral technologies in addition to supporting the growth of the Company’s current lines of business. Grant has relocated his family to Kamloops, with Kamloops being the new joint head office for PLAN and Progressive Planet Products Inc.

Executing on the Company’s growth plan, Grant will be leading the shutdown of the seasonal regenerative fertilizer pilot plant in Spallumcheen, BC, moving key equipment to expand the full commercial plant in Kamloops, BC.

“Ian is knowledgeable and an effective leader – key attributes that I value and need in a COO as we continue to build toward the future,” said Steve Harpur, CEO of PLAN. “He’s played a central role in growing client relationships and navigating a changing marketplace that fully embraces sustainable innovation. We’re excited and fortunate to have Ian step into this expanded role.”

“Progressive Planet is loaded with a professional team that represents a new era of innovation and environmental science tailor-made for the low-carbon economy,’ said Ian Grant. “I look forward to driving adoption of the Company’s low-carbon cement and regenerative fertilizer products.”

About Progressive Planet

Progressive Planet is a disruptive tech innovation company providing circular solutions and earth-friendly micronized minerals that naturally unlock sustainability benefits across the cement and agriculture sectors. PLAN is developing and producing a portfolio of proprietary solutions focused on sequestering CO2 and minimizing carbon footprints to help our customers build, grow and operate more responsibly.

Progressive Planet Announces Issuance of Stock Options

KAMLOOPS, BCApril 6, 2022 – Progressive Planet Solutions Inc(TSXV: PLAN) (“PLAN“, “Progressive Planet” or the “Company“), an innovative provider of eco-friendly micronized minerals and circular solutions for the construction, agricultural, and industrial sectors, announces  that the Board of Directors  has granted a total of 1,830,000 stock options.

Options include 1,650,000 issued to directors, officers, and insiders of the Company exercisable at $0.345 for a period of three years. In addition, 180,000 options were issued to employees and consultants of the Company exercisable at $0.345 for a period of three years. All options were granted in accordance with the Company’s stock option plan.

About Progressive Planet

Progressive Planet is a disruptive tech innovation company providing circular solutions and earth-friendly micronized minerals that naturally unlock sustainability benefits across the construction, agriculture and industrial sectors. Tapping into the earth’s inherent binding powers and properties, PLAN is developing and producing a portfolio of proprietary solutions focused on sequestering CO2 and minimizing carbon footprints to help our customers build, grow and operate more responsibly.

Progressive Planet Announces Sustainable Fertilizer and Agriculture Operations Expansion

Progressive Planet Announces Sustainable Fertilizer and Agriculture Operations Expansion

  • Secures purchase order increase from Fertoz Ltd. for additional soft rock phosphate production to fill market gap for sustainable fertilizer
  • Use of micronized minerals as fertilizer shown to substantially increase carbon sequestration in soil, reduce nitrous oxide emissions and improve overall crop yields
  • Completes successful operational integration with recently closed acquisition Absorbent Products Ltd.

 
Vancouver, BC, March 10, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), an emerging technology provider of innovative circular solutions and eco-friendly micronized minerals for agriculture, construction and industry, is pleased to announce it is leveraging recent R&D activity to expand operations and become a national toll processing provider of micronized minerals in the natural and organic fertilizer industry.

The Company also announces an expanding business relationship with Fertoz Ltd (ASX: FTZ) (“Fertoz”), having received a new Purchase Order for additional comminution services focused on micronizing soft rock phosphate for use as organic fertilizer. All processing and production will be carried out at the recently-acquired Absorbent Products manufacturing  facility in Kamloops, BC, which will support the Company’s plans to significantly scale customized toll processing and production work.

“We’ve identified carbon sequestration as a massive opportunity area across the agricultural industry. This is where science and technology come together and help break down, activate and release mineral nutrients and other building blocks essential to all agriculture practices,“ said Ian Grant, VP of Business Development, Progressive Planet. “Micronized mineral toll processing is a key that opens doors to everything from soil restoration to greenhouse gas reduction to reducing dependency on chemical fertilizers.”

When micronized minerals such as soft rock phosphate are applied to farming fields, there’s a correlation between increased yields and plant biomass, organic matter build up and carbon sequestration where carbon is effectively transformed and trapped in soil. Soil is the second biggest carbon sink after the oceans, and is not only considered by many experts to be the most logical place to put excess carbon, but also shows additional benefits such as increased crop yields and soil moisture retention.

Worth an estimated $170B, the global fertilizer industry is currently dominated by synthetic based fertilizers that incorporate nitrogen, phosphorus, potassium and other nutrients. However, the price of chemical-based fertilizers, in addition to herbicides, land, and labor have altered the supply chain. Raw materials and production costs have risen, and when combined with recent geopolitical events and strong demand, fertilizer prices are at an all-time high.

PLAN is working with customers who service the agricultural industry and are targeting end consumers who are looking for chemical free-soil additives and fertilizers that work just as well, or better, than chemical alternatives. Local regulations banning chemical soil additives, along with general health concerns, are also prompting many throughout the agricultural industry to move to natural and organic fertilizers.

“As companies move toward natural alternatives, they are looking for partners that can provide high-quality, low-carbon products while having flexibility to manufacture large quantities of multiple formulations without supply chain constraints,” Grant continued. “Equally important, to be certified as an organic micronized mineral, companies must certify that their comminution process is free of non-organic materials, and that the end product has not been contaminated.  PLAN enjoys a unique competitive advantage in these areas, making us a valuable supply chain partner.”

Progressive Planet specializes in custom toll processing services, offering clients a wide variety of precision particle configurations of varying sizes and tailored to their specifications. The Absorbent Product acquisition has brought two complementary companies together, unifying top-notch talent and state-of-the-art equipment and facilities under one shared vision to begin meeting the growing demands of the natural and organic fertilizer industry.

Progressive Planet’s mission is to strengthen industry through sustainable innovation, providing earth-conscious pathways and products that radically decarbonize concrete production and re-mineralize agricultural operations. Our circular solutions and portfolio of micronized minerals represent a new era of environmental science where natural raw materials are introduced to minimize carbon footprints, sequester greenhouse gasses and provide a safer and superior alternative to man-made byproducts.   

About Progressive Planet

Progressive Planet is a disruptive tech innovation company providing circular solutions and earth-friendly micronized minerals that naturally unlock sustainability benefits across the construction, agriculture and industrial sectors. Tapping into the earth’s inherent binding powers and properties, PLAN is developing and producing a portfolio of proprietary solutions focused on sequestering CO2 and minimizing carbon footprints to help our customers build, grow and operate more responsibly.

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

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

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.

Forward-Looking Statements:

This news release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward looking information is typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” and similar expressions, or are those that, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including but not limited to: the Company’s ability to complete the acquisition as described; the Company’s ability to complete the proposed private placement; the general state of the industry in which the Company operates; the state of financial markets generally; and other risks and factors that the Company is not aware of at this time.

Progressive Planet Closes Final Tranche of Private Placement for Total Proceeds of $6.22M

Vancouver, BC, February 28, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), an innovative provider of eco-friendly micronized minerals and circular solutions for construction, agricultural, animal health, and industrial sectors, is pleased to announce that it has closed the final tranche of its private placement, announced December 24, 2021.   The final tranche was comprised of 6,293,140 units for additional gross proceeds of $2.20 million.
Pursuant to the final tranche closing, the Company issued a total of 6,293,140 units, each unit comprised of one common share and one warrant exercisable at $0.60 for two years (expiring February 18, 2024), subject to acceleration in the second year if the Company’s shares trade at over $0.75 per share for a period of ten trading days. Together with the first tranche closing on February 10, 2022, the Company issued an aggregate total of 17,763,640 units for aggregate gross proceeds of $6.22 million.

A portion of the overall financing proceeds were used to complete the Company’s acquisition and February 18,2022 closing of Absorbent Products Ltd. (“APL”), a dominant manufacturer of mineral-based products derived from diatomaceous earth, zeolite, and bentonite. The remaining proceeds will be used to fund further APL mineral property development, to expand comminution business operations into APL’s premises as part of its head office relocation and for APL debt retirement purposes.

PLAN will continue to support current APL business operations and eco-conscious product lines, while retaining all patents and intellectual property rights to help further additional developments in sustainable cement, crop nutrition and other areas.
Four insiders participated in this private placement, including David Richardson, a “control person” of the Company by reason of holding, directly and indirectly, more than 20% of the Company’s issued shares. Mr. Richardson purchased 300,000 units through his company Countryman Investments Ltd., for a total of $105,000. Immediately prior to his participation, Mr. Richardson held 20,148,499 common shares of the Company and 5,725,000 share purchase warrants, directly and indirectly, representing 35.52% of the outstanding shares (calculated on a partially diluted basis assuming exercise of such warrants) prior to the completion of the private placement and aforementioned acquisition. With his participation, Mr. Richards’s direct and indirect shareholdings will represent 28.06% of the outstanding shares, on a partially diluted basis assuming exercise of his warrants.

Finder’s fees of $175,618 were paid to agents of the Company, alongside 501,767 agent’s warrants exercisable at $0.35 per share until February 18, 2023.The shares and warrants comprising the units sold in the offering, the agent’s warrants, and the shares underlying the warrants and agent’s warrants, are subject to a four month hold period expiring June 19, 2022.

About Progressive Planet  
Progressive Planet is an emerging company providing innovative circular solutions and earth-friendly micronized minerals that naturally unlock sustainability benefits across the construction, agriculture, and industrial sectors. Tapping into the earth’s inherent binding powers and properties, PLAN is developing and scaling a portfolio of proprietary solutions to help our customers build, grow, live, and operate more responsibly.
For further information or investor relations inquiries, please contact us:

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

or
 
Jeff Walker,
Vice President, The Howard Group
403-221-0915
888-221-0915
[email protected]

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.

Forward-Looking Statements:

This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the Company’s anticipated use of proceeds from the completed private placement financing. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward looking information is typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” and similar expressions, or are those that, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including but not limited to: the general state of the industry in which the Company operates; the state of financial markets generally; and other risks and factors that the Company is not aware of at this time.