SEPTEMBER 19, 2018, VANCOUVER, B.C. – PROGRESSIVE PLANET SOLUTIONS INC. (PLAN-TSX:V) (“Progressive Planet” or the “Company”) voluntarily makes a correction to our earlier news release regarding the closing of the private placement dated August 10, 2018.
On June 28, 2018, the TSX Venture issued a bulletin which defines a broad range of activities that provide a promotional role to TSXV issuers as defined by TSXV Policy 3.4. Based on the contents of this bulletin, PLAN is disclosing the following relationships.
Two digital media companies have been hired, both with one-year contracts. Proactive Investors were hired on July 30, 2018 and paid a fee of $15,000. Funds used to pay Proactive Investors came from a private placement completed in January 2018 where a total of $900,000 was raised.
Investor News Network (INN) was also hired for $70,650 on May 8, 2018. At the date of signing, $20,650 was paid and these funds came from the private placement completed in January 2018. The remaining $50,000 was paid after completion of the private placement on August 10, 2018. As part of the agreement with INN, INN sought to invest $50,000 in the next private placement completed by PLAN. Accordingly, INN invested $50,000 in our private placement and now own shares and warrants in our company. At the time of the closing of the private placement, INN owned approximately 2% of PLAN’s outstanding shares, 1 million shares out of 50.8 M shares outstanding.
Both promotional companies are exceptional in their areas of expertise and will provide comprehensive digital media services to our company. Proactive Investors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies daily. Investor News Network provides news and education for investors in over 40 targeted categories with the opportunity to connect educated investors with trusted companies.
Progressive Planet is a Canadian based mineral exploration company with a flagship zeolite mine in British Columbia, the right to earn a 20% interest in a lithium project in Manitoba and a graphite property in Buckingham, Quebec.
ON BEHALF OF THE BOARD
Signed “Stephen Harpur”
Stephen Harpur, CPA, CGA
For further information, please contact:
Derek Knight, COO
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Progressive Planet Solutions Inc. Actual results may differ materially from those currently anticipated in such 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.