PLAN Closes Flow-Through Private Placement

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

or investor relations inquiries, please contact us: 1-800-910-3072, [email protected], www.progressiveplanet.ca