VANCOUVER, BC / ACCESSWIRE / April 26, 2019 / PROGRESSIVE PLANET SOLUTIONS INC. (PLAN: TSX-V) ("Progressive Planet" or the "Company") is pleased to announce that further to its press release dated March 28th, 2019 the Company has closed the non-brokered private placement. The total raised in the financing issuing 9,000,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $450,000.00.
Each Unit is comprised of one common share (a "Share") and one Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") at a price of $0.055 per Warrant Share for a period of 12 months from the date of closing.
Finders' fees of $17,200.00 and 344,000 broker warrants were paid to an arm's length party. The shares and warrants comprising the units are subject to a 4 month hold period expiring August 27th, 2019.
Net proceeds of the Financing will be used for general corporate purposes and for additional infrastructure at the Company's Advanced Materials Centre (the "AMC") located in the Township of Spallumcheen, B.C.
Additionally, the Company announces the resignation of Mr. Stephen Pearce from the board of directors effective immediately. The Company wishes to sincerely thank Mr. Pearce for his contributions and wish him the very best in his future endeavours.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia, and a 100% interest in the Buckingham Graphite Project in Quebec.
ON BEHALF OF THE BOARD
Signed "Stephen Harpur"
Stephen Harpur, CPA, CGA
CEO
For further information or investor relations inquiries, please contact us:
1-800-910-3072
Investors@progressiveplanet.ca
www.progressiveplanet.ca
Forward-Looking Statements:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Progressive Planet Solutions Inc. Actual results may differ materially from those currently anticipated in such 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/543188/Progressive-Planet-Closes-Financing