21:03:56 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Progressive Planet Solutions Inc (2)
Symbol PLAN
Shares Issued 33,638,711
Close 2020-07-10 C$ 0.055
Market Cap C$ 1,850,129
Recent Sedar Documents

ORIGINAL: Progressive investor Richardson acquires 3 M warrants

2020-07-10 16:22 ET - News Release

Received by email:

File: '\\doc\emailin\20200710 131057 Attachment FINAL - News Release re Early Warning Report (Dave Richardson) July 10
--->, 2020.DOCX'


9160537.1
9160537.1
9160537.1

PLAN ANNOUNCES EARLY WARNING REPORT
 
July 10, 2020, VANCOUVER, B.C. - PROGRESSIVE PLANET SOLUTIONS INC. (PLAN-TSX:V) ("Progressive Planet", "PLAN" or the "
--->Company"), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement p
--->roduction, wishes to announce that it has filed an early warning report for George David Richardson ("Mr. Richardson")
--->, a controlling shareholder of the Company. 
As disclosed in the Company's news release dated June 1, 2020, the Company has been granted credit facilities for an a
--->ggregate of up to $300,000 in principal indebtedness from the Bank of Montreal (the "Loan Facilities").  The Company's
---> obligations to the Bank of Montreal with respect to the Loan Facilities have been guaranteed by Mr. Richardson.  

Pursuant to a Debtor-Guarantor Agreement, in consideration for Mr. Richardson providing the guarantee referred to abov
--->e, the Company issued 6,000,000 warrants to him.  As a result, Mr. Richardson beneficially owns or controls, directly 
--->and indirectly, an aggregate total of 9,310,333 common shares (including his deemed indirect control of 4,526,333 comm
--->on shares held by Countryman Investments Limited, a B.C. incorporated company of which Mr. Richardson is a principal) 
--->and 9,783,667 warrants (including his deemed indirect control of 666,667 warrants held by Countryman Investments Limit
--->ed) and 250,000  stock options (including his deemed indirect control of 100,000 stock options held by Countryman Inve
--->stments Limited), which collectively represent 44.3% of the Company's issued and outstanding common shares, calculated
---> on a partially-diluted basis assuming the exercise of such warrants and stock options.

Mr. Richardson intends to evaluate his investments in the Company and to increase or decrease his respective sharehold
--->ings as he may determine for investment purposes.

This news release is being disseminated as required by National Instrument 62-103, The Early Warning System and Relate
--->d Take-Over Bids and Insider Reporting Issues in connection with the filing of the early warning report (the "Early Wa
--->rning Report"). A copy of the Early Warning Report may be found on www.sedar.com under the Company's profile.

Progressive Planet operates its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% option on the Z2
---> Natural Pozzolan Property near Falkland, BC and a 100% interest in Heffley Creek Natural Pozzolan Property. All three
---> properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets
--->.

For further information or investor relations inquiries, please contact us:

1-800-910-3072
Investors@progressiveplanet.ca
www.progressiveplanet.ca

Forward-Looking 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. 




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