Progressive Planet Announces Expiry of Warrants
/NOT FOR DISTRIBUTION IN THE USA/
KAMLOOPS, Feb. 14, 2023 - Progressive Planet Solutions Inc. (TSXV: PLAN) (OTCQB: ASHXF) (Frankfurt: ARB3) ("Progressive Planet", "PLAN", or the "Company") announces three different sets of warrants expired on or before February 12, 2023.
The following warrants expired:
| Brokers warrants ($0.20) | 135,000 |
| Private placement warrants ($0.25) | 5,010,000 |
| Brokers warrants ($0.35) | 382,500 |
Prior to expiration, 395,000 broker warrants and 1,990,000 private placement warrants were exercised, bringing a total of $576,500 of new money into the treasury.
The following warrants remain outstanding:
| $0.35 (Expire Feb 25, 2023): | 119,267 |
| $0.60 (Expire Feb 10, 2024) | 11,470,500 |
| $0.60 (Expire Feb 25, 2024) | 6,293,140 |
| $0.36 Expiring March 2, 2025: | 8,333,332 |
| Total warrants outstanding: | 26,216,239 |
Fully Diluted:
| Shares Outstanding: | 102,354,087 |
| Warrants Outstanding: | 26,216,239 |
| Options Outstanding: | 9,295,000 |
| APL Acquisition (2nd tranche) | 2,571,429 |
| APL Acquisition (Final tranche) | 2,571,429 |
| Total (fully diluted): | 143,008,184 |
"We are grateful for the continued support of our investors for the warrants exercised while recognizing the fully diluted share total was reduced by over 5.5 million shares with the expiring warrants in a time where we are focused on generating cash via operational efficiencies versus dilutive capital raises," stated Steve Harpur, CEO.
PLAN 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.
Headquartered in Kamloops, British Columbia, we are an established manufacturing and innovation company engaged in the research, design, development, manufacture, integration, and sustainment of advanced absorbents, regenerative fertilizers, other farm products, and eco-friendly cement products. We are a group of passionate people who use disruptive innovation to have a positive effect on the environment by producing products to "live, grow, and build, better."
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. 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.
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
Contact
or investor relations inquiries, please contact: Steve Harpur, 1 (800) 910-3072, investors@progressiveplanet.ca