VANCOUVER, BC / ACCESSWIRE / October 18, 2019 / PROGRESSIVE PLANET SOLUTIONS INC. (TSXV:PLAN) ("PLAN" or the "Company") is pleased to announce it has received TSX Venture Exchange approval of its option agreement with Jeremy Marlow on the Z2 Zeolite property near Falkland, BC.
To maintain and exercise the option granted, the Company will pay Mr. Marlow a total amount of $26,000 over a period of 36 months, issue a total of 500,000 common shares over a period of 36 months, and incur a total of $200,000 in exploration expenditures on the zeolite property over a period of 36 months. Additionally, Mr. Marlow will retain a royalty of $8.00 per tonne of mineral products produced from the property, subject to a 50% buyback right in consideration of $75,000. All shares issued under the option agreement will be subject to a 4 month hold period. A finder's fee of 50,000 shares of the company will be issued to Jacques Levesque of Ashcroft, BC.
On a separate note, PLAN completed its first ever toll processing contract whereby it used existing equipment to size reduce limestone for a third-party client.
"Our business model of building capacity to size reduce glacial moraine rock into rock dust and to micronize zeolite involves procuring additional equipment which can also be used to size reduce limestone, gypsum, basalt, soft rock phosphates, and other industrial minerals. As we grow our company, we will be seeking additional opportunities to complete toll processing for third parties," stated Steve Harpur, CEO.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in Cache Creek, British Columbia. Progressive Planet is committed to using mineral resources to provide solutions for a livable planet.
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:
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/563459/PLAN-Announces-Exchange-Approval-of-2nd-Zeolite-Property-in-BC-and-Announces-First-Toll-Processing-Contract-Completed
