Progressive Planet share buyback starts strong, building long-term shareholder value

/NOT FOR DISTRIBUTION IN THE USA/

849,500 shares purchased at below book value in June

KAMLOOPS, BC, July 11, 2024 /CNW/ - Progressive Planet Solutions Inc. (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company"), a leader in developing CleanTech solutions for the planet, announces the results for the first month of actively utilizing its normal course issuer bid (the "NCIB").

On June 3, 2024, Progressive Planet announced that the TSX Venture Exchange had accepted its notice to proceed with a normal course issuer bid.

During the month of June, the Company purchased 849,500 shares for cancellation. The average purchase price was $0.100088 per share.

"In June, we completed our first month of buying back shares using the approved normal course issuer bid program. With the long-term goal of growing shareholder value, we view the ability to buy back shares from voluntary sellers at below book value per share as adding value to the remaining shareholders. This month's activities reflect leadership's confidence in Progressive Planet's present and future," stated Steve Harpur, CEO.

Progressive Planet provides regular information for investors on its website: progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, and information on corporate governance. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

About Progressive Planet:

Progressive Planet Solutions, a CleanTech and manufacturing company operating out of Kamloops, British Columbia, is reimagining what's possible when we prioritize our planet's health.  Our expertise lies in developing critical low-carbon and carbon sequestering solutions using our owned mineral assets and recycled materials to create planet-friendly products that fight climate change and protect our planet's health.

Our C-Quester™ Centre of Sustainable Solutions is proudly disrupting the cement, agricultural and animal care industries with our low-carbon and CO2 sequestering efforts. Our products are developed with the express intent of reducing carbon footprints and improving soil health, using naturally occurring minerals and recycled materials, and can be found in over 10,000 retail stores across North America.

Forward-Looking Statements:

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein including statements regarding the NCIB and the repurchases thereunder as well as the effect of those repurchases, statements regarding the future of the Bromley Creek Zeolite Mine and statements regarding the development of future products. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.

Disclaimer:

This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.

SOURCE Progressive Planet Solutions Inc.

For further information or investor relations inquiries, please contact: Steve Harpur, CEO, 1 [phone], [email protected]