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Progressive Planet (TSXV:PLAN) announced both regular and flow-through non-brokered private placements

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The company is looking to raise gross proceeds of up to $227,500 from the placement of up to 3.5 million units priced at $0.065 per unit. The company is also looking to raise gross proceeds of up to $240,000 from the placement of up to 3 million flow-through units priced at $0.08 per unit.

Additional Information:

Company: Progressive Planet
Website: http://www.ProgressivePlanet.ca
Stock Symbol: TSXV: PLAN
Date Published: Aug 25, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Progressive Planet has announced both regular and flow-through non-brokered private placements.

The company is looking to raise gross proceeds of up to $227,500 from the placement of up to 3.5 million units priced at $0.065 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.10 for 12 months.

The company is also looking to raise gross proceeds of up to $240,000 from the placement of up to 3 million flow-through units priced at $0.08 per unit.

The flow-through units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.10 for 12 months.

The shares are currently trading at $0.07, with approximately 33.6 million shares outstanding prior to this offering.

The company intends to use the proceeds for general working capital, repayment of loans and for continued exploration on the company’s properties.

The company operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC as well as 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.

The zeolite industry has sustained growth due to the extraordinary adaptability, flexibility and eco-friendly nature of the mineral, which can be applied in a wide range of industrial, consumer and environmental applications.

Newer market applications include agricultural and horticultural solutions, soil remediation, and high-tech clean-tech applications.

Progressive Planet is 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.

Fly ash, which is generated globally as a by-product of burning coal for electricity generation, is used as a supplementary cementing material in blended cement mixes.

You may be surprised to know that the production of Portland Cement is a significant global generator of CO2 emissions.

Pozzolans, a class of industrial minerals which are used as cement replacements rather than cement additions, can feasibly result in a reduction of 40 percent of Portland cement in the concrete mix.

Following initial research by the University of Alberta, the company recently signed a second Collaborative Research Agreement with the University in order to complete final testing on the company’s Natural Pozzolan Blend which the company intends to produce to compete with fly ash as a substantially greener supplementary cementing material.

Steve Harpur, CEO, started: “We were very pleased with the results achieved by Dr. Vivek Bindiganavile and his team of concrete experts on the first Collaborative Research Agreement. If we achieve successful results from these additional tests, we will have completed all the testing required to give the ready mix and pre-cast concrete industries confidence to use our Natural Pozzolan Blend. With a fully functional comminution plant in place to pulverize Natural Pozzolan from the Z-1 Quarry and to pulverize post-consumer glass, we intend to introduce this product during the 2021 construction season.”

For more information, please visit the company’s website at www.ProgressivePlanet.ca, contact Steve Harpur, CEO, at 800-910-3072 or by email at investors@ProgressivePlanet.ca.

I’m Megan Edwards for Investmentpitch Media