VANCOUVER, BC, Dec. 29, 2020 /CNW/ - 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 that is has closed the "flow-through" financing it
announced on December 22, 2020. The
financing was fully subscribed.
There were 2,500,000 flow-through units issued under the private
placement at $0.10 per flow-through
unit, for gross flow-through proceeds of $250,000. Each flow-through unit consisted of one
"flow-through" common share and one-half of a warrant, each whole
warrant exercisable at $0.15 per
share for a period of twelve months.
Use of proceeds will be for continued exploration on the
Company's 100% owned Heffley Creek Metals and Pozzolan Property in
BC. A director of the Company subscribed for 800,000 units of this
flow through financing. There were no finder's fees paid on the
flow through financing.
All securities issued under these financings will be subject to
a statutory four month hold period.
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 Natural Pozzolan
Quarry in Cache Creek, BC 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.
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