Progressive Planet Solutions Inc.: Announces Non-Brokered Private Placement
Progressive Planet Solutions Inc. (PLAN-TSX:V) (“Progressive Planet” or the "Company”) is pleased to announce the terms of a non-brokered private placement of up to 8,000,000 units at a price of $0.05 per unit for gross proceeds of up to $400,000. Each unit will be subject to a four-month holding period and be comprised of one ordinary share and one full share purchase warrant of the Company. Each warrant entitling the holder to acquire one common share of the Corporation for a period of 24 months following the closing date, at an exercise price of $0.10 per warrant share, subject to an acceleration clause if the shares are trading at $0.15 or more for a period of ten consecutive trading days following the completion of the four month holding period. Finders Fees may be payable.
The net proceeds from the private placement will be used to finance Progressive Planet’s drill program at the Buckingham Graphite property during the fall of 2018 and for general working capital.
Progressive Planet is a Canadian based mineral exploration company with a flagship Zeolite Mine in British Columbia, a 20% interest in a lithium project in Manitoba and a graphite property in Buckingham, Quebec.
ON BEHALF OF THE BOARD
Signed “Stephen Harpur”
Stephen Harpur, CPA, CGA
CEO
For further information or investor relations inquiries, please contact:
Derek Knight
VP Operations
1-800-910-3072
DKnight@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. (TSX Venture:PLAN, OTC Bulletin Board:ASHXF, FWB:ARB2)