PlasCred Circular Innovations Inc. Announces Q3 2023 Results

PlasCred's Ongoing Success in Patent-Pending PlasCred Primus Testing Paves Way for Plastic Credits and Enhanced Sustainability

CALGARY, AB , Dec. 5, 2023 /CNW/ - PlasCred Circular Innovations Inc. (the "Company" or "PlasCred") (CSE: PLAS) (Frankfurt: 304A), a transformative leader in the plastic waste upcycling sector, is pleased to release financial and operating results for the third quarter of 2023.

Troy Lupul, President, and CEO of PlasCred, stated, "This quarter has been transformative for PlasCred. Our registration with Verra and collaboration with Adelaide Capital are testaments to our growing influence in the plastic upcycling sector. The remarkable outcomes from our Primus pilot plant underscore our technological prowess and commitment to a sustainable future. We are not only addressing the global plastic waste challenge but also leading change in the industry."

Q3 2023 Highlights:

• Verra Registration and Commitment to Sustainability: PlasCred has registered with Verra, a global authority in certifying greenhouse gas reductions and sustainable development benefits, marking a significant step in PlasCred's entry into the plastic credits trading market.
• Strategic Collaboration with Adelaide Capital: The Company has formed a strategic partnership with Adelaide Capital, a leading investor relations and capital markets advisory firm. This alliance is expected to significantly boost PlasCred's market presence and facilitate its growth strategies.
• Progress in Patent Pending PlasCred Primus Operations: The commissioning of the patent-pending Primus pilot plant in Calgary is a significant landmark for PlasCred. With an impressive yield rate of approximately 80%, the plant is a testament to PlasCred's dedication to sustainable and efficient plastic waste upcycling. Currently, the plant is engaged in ongoing rigorous testing processes, using a wide range of mixed plastic waste sources. This diverse testing approach, verified by an independent third-party laboratory, ensures a comprehensive evaluation of PlasCred's innovative technology's effectiveness across various types of plastic waste, further showcasing the potential and versatility of the Primus pilot plant in advancing plastic waste transformation.

Operational Results:
For the nine months ending September 30, 2023, PlasCred reported the following:

• Net loss and comprehensive loss: $(6,023,155)
• Basic and diluted loss per common share: $(0.18)

Comparatively, for the quarter ending September 30, 2022:

• Net loss and comprehensive loss: $(119,003)
• Basic and diluted loss per common share: $(0.00)

Financial Position as of September 30, 2023:

• Cash on hand: $1,072,423
• Total assets: $2,615,923
• Current liabilities: $1,008,597
• Total liabilities and shareholders' equity: $2,615,923.

Shares Outstanding:
The company common shares outstanding totaled 62,396,605.

About PlasCred Circular Innovations Inc.
PlasCred is at the forefront of rebalancing the future of plastics. The company is transforming plastic waste by granting it a valuable second life. With a vision of advancing towards a climate-positive future, PlasCred aspires to be among the largest advanced plastic waste upcycler's in North America and globally. Their groundbreaking patent-pending technology is set to revolutionize the approach to plastic waste management and upcycling. PlasCred is also developing strategic partnerships with CN Rail and Fibreco Export Inc., providing PlasCred with unparalleled logistics support across North America and globally for transportation and handling of plastic waste. Further information on PlasCred, see their YouTube channel and website located at  www.youtube.com/@PlasCredInc and  www.plascred.com

ON BEHALF OF THE BOARD

Troy Lupul – President & CEO

Forward-looking Statements

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance, or achievements that PlasCred anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking statements are based on assumptions, including expectations and assumptions concerning the metaverse and the Company's growth plan. While PlasCred considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive and other risks set out in public disclosure recorded and filed under the Company's profile on www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Plascred Circular Innovations Inc. which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. PlasCred Circular Innovations Inc. disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

SOURCE Plascred Circular Innovations Inc.

PlasCred Circular Innovations Inc., Troy Lupul, [phone] - Email: [email protected]