PLAN announces that the Company has closed the first tranche of the private placement comprising of 2,705,000 “flow through” units at $0.07 per unit.
Progressive Planet Solutions Inc. (TSXV:PLAN) (“Progressive Planet”, “PLAN” or the “Company”) announces that, further to its news release dated December 4, 2019, the Company has closed the first tranche of the private placement comprising of 2,705,000 “flow through” units at $0.07 per “flow through” unit for total proceeds of $189,350.
Each unit comprises one common share issued on a “flow through” basis and a share purchase warrant entitling the holder to purchase an additional share in the Company for $0.075 a share if exercised on or before June 23, 2020. Securities will bear legends restricting resale until April 24, 2020.
The Company will use the proceeds from the private placement for qualifying exploration expenditures.
There were no finder’s fees paid with respect to the “flow through” tranche of the private placement.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia and is earning a 100% option on the Z2 Zeolite Property near Falkland, BC.
ON BEHALF OF THE BOARD
Signed “Stephen Harpur”
Stephen Harpur, CPA, CGA, CEO
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