Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), pronounces that, additional to its information releases dated December 22, 2020 and January 7, 2021 the Firm has closed its non-brokered personal placement financing comprising of seven,500,000 models, at $0.10 per unit, for complete gross proceeds of $750,000 .
Every such unit will consist of 1 share and one share buy warrant entitling the holder to buy an extra share within the Firm for $0.15 per share if exercised on or earlier than January 20, 2023 . Within the occasion the closing worth (or closing bid, if no gross sales have been reported on a buying and selling day) of the Firm’s widespread shares as quoted on TSX Enterprise Alternate (or such different securities trade, citation system or market on which the widespread shares are listed and the place a majority of the buying and selling quantity of the widespread shares happens) exceeds $0.25 per share for a worth of ten consecutive buying and selling days, the Firm might, inside 5 days of such occasion, present discover by the use of information launch of early expiry, during which occasion the warrants will expire 30 days from the date of such information launch.
The proceeds of the personal placement shall be used for common working capital. Two insiders participated on this personal placement. David Richardson , a “management individual” of the Firm by purpose of holding, instantly and not directly, greater than 20% of the Firm’s issued shares, bought 1,000,000 models by way of his firm Countryman Investments Ltd., for a complete of $100,000 . The Howard Group Inc., which gives investor relations companies to the Firm, bought 350,000 models for a complete of $35,000 .
The Firm has paid an combination complete of $27,750 in money finders’ charges and issued an combination complete of 277,500 finder’s charge warrants in reference to this personal placement to a few finders. Every finder’s charge warrant will entitle the holder to buy a standard share of the Firm at an train worth equal to $0.10 per share, on or earlier than January 20 , 2022.
All securities issued below the financing shall be topic to a statutory 4 month maintain interval and securities will bear legends limiting resale till Could 21, 2021 .
ABOUT PROGRESSIVE PLANET
Progressive Planet is an rising chief in supplying options for a livable planet by creating low carbon, pozzolan-based, cementing merchandise which exchange equal quantities of Portland Cement and fly ash in concrete. The manufacturing of Portland Cement is the second largest world generator of CO2 emissions.
Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is incomes an 100% curiosity within the Z2 Pure Pozzolan Property close to Falkland, BC and incomes a 100% curiosity within the Heffley Creek Metals and Pure Pozzolan Property. All three properties are inside a one-hour drive of Kamloops, BC , an industrial hub with rail entry to Canadian and US markets.
Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this launch.
SOURCE Progressive Planet Solutions
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