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.

ABOUT PROGRESSIVE PLANET

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 one-hour 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:

1-800-910-3072
Investors@progressiveplanet.ca
www.progressiveplanet.ca

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.

SOURCE: Progressive Planet Solutions Inc.

View source version on accesswire.com:
https://www.accesswire.com/608623/PLAN-Closes-Private-Placements

News Provided by ACCESSWIRE via QuoteMedia

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less

It’s been just over a year since recreational cannabis was legalised in the Australian Capital Territory (ACT), home to the nation’s capital city of Canberra.

Announced on September 25, 2019, and brought into effect on January 31, 2020, the rules make it legal to possess and personally use small amounts of cannabis.

Keep reading... Show less

Pac Roots Cannabis Corp. (CSE: PACR) (“PacRoots” or the “Company”), announces the closing of its previously announced non-brokered private placement (see press release dated January 25, 2021).

Aggregate gross proceeds of $1,340,685.90 were raised through the issuance of 7,448,255 units (each a “Unit”). Each Unit consists of one common shares and one share purchase warrant. Each warrant is exercisable at a price of $0.30 per share until February 23, 2024.

Keep reading... Show less