KAMLOOPS, BRITISH COLUMBIA – Progressive Planet Solutions Inc. (TSXV: PLAN) (OTCQB: ASHXF) (Frankfurt: ARB3) (“Progressive Planet”, “PLAN”, or the “Company”) announces three different sets of warrants expired on or before February 12, 2023.
The following warrants expired:
Brokers warrants ($0.20) 135,000
Private placement warrants ($0.25) 5,010,000
Brokers warrants ($0.35) 382,500
Prior to expiration, 395,000 broker warrants and 1,990,000 private placement warrants were exercised, bringing a total of $576,500 of new money into the treasury.
The following warrants remain outstanding:
$0.35 (Expire Feb 25, 2023): 119,267
$0.60 (Expire Feb 10, 2024) 11,470,500
$0.60 (Expire Feb 25, 2024) 6,293,140
$0.36 Expiring March 2, 2025: 8,333,332
Total warrants outstanding: 26,216,239
Shares Outstanding: 102,354,087
Warrants Outstanding: 26,216,239
Options Outstanding: 9,295,000
APL Acquisition (2nd tranche) 2,571,429
APL Acquisition (Final tranche) 2,571,429
Total (fully diluted): 143,008,184
“We are grateful for the continued support of our investors for the warrants exercised while recognizing the fully diluted share total was reduced by over 5.5 million shares with the expiring warrants in a time where we are focused on generating cash via operational efficiencies versus dilutive capital raises,” stated Steve Harpur, CEO.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.