Continues selling byproduct as fertilizer ingredient with 192-tonne reorder
KAMLOOPS, BRITISH COLUMBIA – July 6, 2023 – Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) (“Progressive Planet”, “PLAN”, or the “Company”), a leader in developing CleanTech solutions for the planet, receives confirmed reorder from one of North America’s top three big box retailers to continue providing high-quality Wundercat® cat litter, one of its signature animal products, across British Columbia.
On February 21, 2023, Progressive Planet announced it entered a distribution partnership with the big box retailer and, at current reorder rates, the Company now projects the distribution partnership for British Columbia to add more than $1.2 million in new revenue annually.
“In our growing base business, we ship more than 2 million packaged products annually to retail stores across North America,” says Progressive Planet CEO Steve Harpur.
Added Harpur: “Natural animal products, like Wundercat®, are a vital part of our growth strategy – providing cashflow to fuel growth and opening doors into the largest retail chains as market access for launching new products like natural fertilizer and cement products.”
The Company has also received an additional 192-tonne order of the mineral byproduct generated during the production of Wundercat®, strategically marketed and sold as a natural fertilizer ingredient. The latest confirmed order is the third, and largest, commitment from the same major North American fertilizer manufacturer in the last 4 months totalling 328 tonnes.
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.
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