Vancouver, Sep 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 the closing of its two financings
for aggregate gross proceeds of $304,750.
There were 3,150,000 non-flow through units issued under the private placement at $0.065 per
unit, for gross proceeds of $204,750. Each unit consisted of one share and one half warrant
exercisable at $0.10 per share for a period of twelve months from issuance.
There were 1,250,000 flow-through units issued under the private placement at $0.08 per unit for
gross proceeds of $100,000. Each flow through unit consisted of one “flow through” common
share and one half warrant exercisable at $0.10 per share for a period of twelve months.
Use of proceeds for the flow-through units will be for continued exploration on the Company’s
100% owned Heffley Creek Metals and Pozzolan Property in BC. PLAN recently announced it
had discovered nickel in bedrock at the Heffley Creek Property and announced its intention to
accelerate its exploration program for Heffley Creek for the remainder of 2020 (see the Company’s
news release dated August 17, 2020).
A cash finder’s fee of $7,800 was paid and 120,000 finder’s fees warrants were issued. Finder’s
fee warrants have an exercise period of 12 months, and an exercise price equal to $0.10 per share.
All securities issued under these financings are subject to a statutory four month hold period.
Progressive Planet originally announced that it would offer up to 6.5 million units in total, but
received funds from the exercise of outstanding warrants at 5 cents issued from a prior financing
since announcing the financing. As such, and to minimize shareholder dilution, management
decided to limit the units sold under the private placement.
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 onehour 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:
[email protected]
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.