Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Advisory Board Member Dwayne Melrose was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Recent Insider Transactions • Mar 22
Chairman & CEO recently sold CA$112k worth of stock On the 18th of March, Stephen Harpur sold around 350k shares on-market at roughly CA$0.32 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Stephen has been a net seller over the last 12 months, reducing personal holdings by CA$124k. Reported Earnings • Mar 15
Third quarter 2026 earnings released: CA$0.01 loss per share (vs CA$0.001 profit in 3Q 2025) Third quarter 2026 results: CA$0.01 loss per share (down from CA$0.001 profit in 3Q 2025). Revenue: CA$5.82m (up 22% from 3Q 2025). Net loss: CA$1.07m (down CA$1.19m from profit in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Dec 31
Progressive Planet Solutions Inc., Annual General Meeting, Feb 26, 2026 Progressive Planet Solutions Inc., Annual General Meeting, Feb 26, 2026. Location: british columbia, vancouver Canada New Risk • Dec 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (CA$36.8m market cap, or US$26.6m). Reported Earnings • Dec 19
Second quarter 2026 earnings released: EPS: CA$0.009 (vs CA$0.006 in 2Q 2025) Second quarter 2026 results: EPS: CA$0.009 (up from CA$0.006 in 2Q 2025). Revenue: CA$4.96m (down 9.2% from 2Q 2025). Net income: CA$971.9k (up 56% from 2Q 2025). Profit margin: 20% (up from 11% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Oct 22
Progressive Planet Creates New Cement, Gladiator SCM Progressive Planet has developed a new supplementary cementing material named Gladiator SCM and has filed a US provisional patent application for its composition. The company has also initiated the trademark process for Gladiator SCM in both Canada and the USA. Gladiator SCM is designed to leverage the positive attributes of PozGlass while incorporating other abundant materials. A sample of Gladiator SCM was supplied to a global cement company for evaluation shortly after the provisional patent application was filed. Additionally, Progressive Planet has hired Dr. Gerhard Albrecht, a world-renowned polymer scientist with extensive experience in cement chemistry and admixture technology, to contribute to the commercialization of Gladiator SCM. Dr. Albrecht's expertise will help address challenges related to the increased water demand of cement replacement by pozzolanic materials. The company is also preparing to open its Calgary-based C-Quester Centre of Sustainable Solutions, which will focus on developing novel cementing materials aimed at sustainability and longevity. Reported Earnings • Aug 22
Full year 2025 earnings released: EPS: CA$0.015 (vs CA$0.004 loss in FY 2024) Full year 2025 results: EPS: CA$0.015 (up from CA$0.004 loss in FY 2024). Revenue: CA$19.5m (flat on FY 2024). Net income: CA$1.67m (up CA$2.06m from FY 2024). Profit margin: 8.6% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Aug 22
Progressive Planet Solutions Inc. to Report Q1, 2026 Results on Sep 11, 2025 Progressive Planet Solutions Inc. announced that they will report Q1, 2026 results on Sep 11, 2025 Announcement • Mar 27
Progressive Planet Solutions Inc. Secures $1.14 million from BC's Innovative Clean Energy Fund to Advance PozGlass Pilot Plant Progressive Planet Solutions Inc. announce it has been awarded a $1,140,000 grant from the British Columbia Innovative Clean Energy (ICE) Fund, supporting the continued development of its revolutionary PozGlass pilot plant.PozGlass represents a breakthrough in low-carbon cement technology, transforming post-consumer glass into a high-performance supplementary cementitious material (SCM). This funding represents another significant milestone as the company scales its solution to address cement's substantial carbon footprint. PozGlass offers a triple-bottom-line solution: Reducing emissions by replacing up to 50% of Portland cement, a major contributor to CO2 emissions. Sequestering carbon by permanently converting captured CO2 into limestone. Diverting waste by repurposing post-consumer glass into a valuable industrial material. Cement production accounts for over 7% of global CO2 emissions, and sources for traditional SCMs like fly ash and slag are transitioning out. With Lafarge Canada already committed to purchasing all PozGlass produced at the pilot plant, Progressive Planet is well-positioned to scale a viable, made-in-Canada solution that supports both industry and the environment. New Risk • Mar 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$14.3m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (CA$14.3m market cap, or US$9.96m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Large one-off items impacting financial results. New Risk • Mar 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (CA$17.0m market cap, or US$11.9m). Reported Earnings • Mar 14
Third quarter 2025 earnings released: EPS: CA$0.001 (vs CA$0.003 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.001 (down from CA$0.003 in 3Q 2024). Revenue: CA$4.78m (flat on 3Q 2024). Net income: CA$114.8k (down 67% from 3Q 2024). Profit margin: 2.4% (down from 7.2% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Mar 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (CA$16.0m market cap, or US$11.2m). New Risk • Dec 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 3.5% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (CA$20.4m market cap, or US$14.6m). Reported Earnings • Dec 05
Second quarter 2025 earnings released: EPS: CA$0.006 (vs CA$0.002 loss in 2Q 2024) Second quarter 2025 results: EPS: CA$0.006 (up from CA$0.002 loss in 2Q 2024). Revenue: CA$5.47m (flat on 2Q 2024). Net income: CA$623.5k (up CA$805.2k from 2Q 2024). Profit margin: 11% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Nov 07
Progressive Planet Solutions Inc. to Report Q2, 2025 Results on Dec 04, 2024 Progressive Planet Solutions Inc. announced that they will report Q2, 2025 results on Dec 04, 2024 Announcement • Nov 04
Progressive Planet Solutions Inc., Annual General Meeting, Dec 19, 2024 Progressive Planet Solutions Inc., Annual General Meeting, Dec 19, 2024. Location: british columbia, vancouver Canada New Risk • Sep 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Market cap is less than US$10m (CA$11.7m market cap, or US$8.68m). Reported Earnings • Aug 29
Full year 2024 earnings released: CA$0.004 loss per share (vs CA$0.012 loss in FY 2023) Full year 2024 results: CA$0.004 loss per share (improved from CA$0.012 loss in FY 2023). Revenue: CA$19.6m (flat on FY 2023). Net loss: CA$392.8k (loss narrowed 66% from FY 2023). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Announcement • May 03
Progressive Planet Solutions Inc. Announces Superb 28 Day Compressive Strength for New Low Carbon Cement Progressive Planet Solutions Inc. announced the results of 28-day compressive strength tests recently completed on PozPyro. In an exciting development for the building materials sector, Progressive Planet Solutions has announced remarkable results from recent compressive strength tests of PozPyro, a revolutionary new cement alternative. Designed in collaboration with Pyrogenesis Canada, PozPyro aims to provide a partial replacement alternative for Portland cement. PozPyro, a supplementary cementing material (SCM), was developed to partially replace traditional Portland cement, using plasma technology to transform quartz silica, a widely available material, into a SCM, without offassing CO2 from the production process. This innovation comes at a critical time, as the cement industry seeks more sustainable practices without compromising quality or performance. Portland cement emits substantial amounts of CO2 during its production. After rigorous testing, which involved preparing four separate batches of cement mortar cubes, the results are in: PozPyro's Strength Activity Index (SAI) averaged 110.38% at 28 days for the initial two tests (Series A) initiated in March 2024. The average particle size was modified for the Series B tests which resulted in higher strength. Progressive Planet will not disclose particle sizing for competitive reasons. The early success of PozPyro signals a significant step forward in creating more greenhouse gas friendly building materials. As Canada moves towards shutting down coal-fired power plants by 2030, the need for alternatives to fly ash, a common SCM, becomes more pressing. PozPyro not only fills this gap but does so by tapping into one of the earth's most abundant materials, crystalline silica, offering a promising and sustainable solution for the future of construction. According to the IMARC Group, the North American cement market size reached 194.2 million tons (US tons) in 2023. Looking forward, IMARC Group expects the market to reach 279.8 million tons by 2032, which shows a growth rate of 4% per annum between 2024 and 2032. With the ability to substitute 20% of Portland Cement with pzzolanic cements, the total addressable North American market is projected to reach over 55 million tons by 2032. At a projected price of $200 per ton by 2032, the potential market is over $11 billion USD per annum by 2032. For many decades, fly ash has been the product used to partially replace Portland cement in cement blends specified by engineers to increase durability and chemical resistance. Furthermore, PozPyro demonstrated excellent workability, with water demand rates between 99% and 109%, ensuring it is easy to use in various concrete applications. Reported Earnings • Mar 10
Third quarter 2024 earnings released: EPS: CA$0.003 (vs CA$0.005 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.003 (up from CA$0.005 loss in 3Q 2023). Revenue: CA$4.81m (up 5.8% from 3Q 2023). Net income: CA$348.7k (up CA$804.6k from 3Q 2023). Profit margin: 7.2% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Announcement • Feb 09
Progressive Planet Solutions Inc. announced that it has received CAD 0.37 million in funding from Next Generation Manufacturing Canada Progressive Planet Solutions Inc. announced a private placement for the gross proceeds of CAD 370,000 on February 8, 2024. The transaction included participation from new investor Next Generation Manufacturing Canada. Reported Earnings • Dec 07
Second quarter 2024 earnings released: CA$0.002 loss per share (vs CA$0.001 profit in 2Q 2023) Second quarter 2024 results: CA$0.002 loss per share (down from CA$0.001 profit in 2Q 2023). Revenue: CA$5.44m (flat on 2Q 2023). Net loss: CA$181.7k (down 323% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Oct 31
Progressive Planet Solutions Inc., Annual General Meeting, Dec 19, 2023 Progressive Planet Solutions Inc., Annual General Meeting, Dec 19, 2023. New Risk • Oct 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.1m (US$9.51m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 16% per year over the past 5 years. Market cap is less than US$10m (CA$13.1m market cap, or US$9.51m). Minor Risk Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Reported Earnings • Sep 07
Full year 2023 earnings released: CA$0.012 loss per share (vs CA$0.047 loss in FY 2022) Full year 2023 results: CA$0.012 loss per share (improved from CA$0.047 loss in FY 2022). Revenue: CA$19.5m (up 410% from FY 2022). Net loss: CA$1.16m (loss narrowed 65% from FY 2022). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 30
Progressive Planet Solutions Inc. to Report Fiscal Year 2023 Results on Sep 01, 2023 Progressive Planet Solutions Inc. announced that they will report fiscal year 2023 results on Sep 01, 2023 Announcement • Jun 23
Progressive Planet Appoints Steve Gurney as President Progressive Planet optimizes leadership team by naming Steve Gurney President as it enters commercialization phase of low carbon and carbon sequestering innovations for the cement and agriculture industries. Gurney was previously President of Progressive Planet Products Inc., the Company's wholly owned manufacturing subsidiary, and brings 33 years' experience within operations that scaled from startup to production of millions of packaged products annually. Gurney steps into an expanded role as President of the parent Company. The move comes following Progressive Planet announcing it will break ground on a PozGlass(TM) 100G pilot plant in 2023 and scale manufacturing operations for CARBON PK(TM) natural fertilizer in 2024. PozGlass replaces cement, sequesters CO(2), and is made from post-consumer glass diverted from landfills using a patent-pending process. CARBON PK's proprietary formulation is reducing fertilizer application by 50% on 617 acres in Western Canada in 2023. As President, Gurney will use his extensive experience to lead the expansion of both technologies. Concurrently, Progressive Planet announces Ian Grant as VP of Strategy and Investor Relations. Grant, previously COO, shifts his focus externally while remaining a key part of the leadership team. Board Change • Jun 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 7 experienced directors. No highly experienced directors. Member of Technical Advisory Board Earl Jenson is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • May 12
Progressive Planet Announces Board Changes Progressive Planet announced the appointment of Randy Gue as an independent member of its Board of Directors, effective immediately. Randy is a global industry leader in the fields of recycling, reuse, and sustainability. Throughout his career, including 32 years with Lafarge North America, he oversaw or was directly involved with diverting almost one million tonnes of material from landfills for use in renewable energy streams or to replace conventionally mined raw materials. Randy is also dedicated to helping companies developing cutting-edge technologies in environmental and waste management fields scale into commercially viable businesses. The appointment of Randy coincides with the resignation of Dwayne Melrose from Progressive Planet's Board of Directors, as he transitions into an Advisory Board Member role where he remains a Qualified Person (QP) to the Company. Randy Gue is the President of Better Planet Consulting, working with clients in various industries to divert by-products and so called "waste materials" from landfills. Randy worked for Lafarge for 32 years in various capacities ranging from engineering, project management to quality and process control. For the last 18 of those years, he worked as the Director of Business Development with primary responsibility for implementation of alternative fuel and raw material projects at Lafarge's plants in Western Canada and the USA, developing business relationships with numerous companies including Fortune 500 firms. Throughout his career, Randy was either directly involved or oversaw the beneficial reuse of almost one million tonnes of material used for either fuels or raw materials that would have otherwise gone to landfills. Randy holds an MBA from Simon Fraser University and a Bachelor of Science in Mechanical Engineering from McMaster University. Recent Insider Transactions • May 05
Chief Financial Officer recently bought CA$75k worth of stock On the 28th of April, Chris Halsey-Brandt bought around 300k shares on-market at roughly CA$0.25 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Chris has been a buyer over the last 12 months, purchasing a net total of CA$99k worth in shares. Recent Insider Transactions Derivative • Jan 30
Member of Technical Advisory Board exercised options to buy CA$189k worth of stock. On the 26th of January, David Richardson exercised options to buy 725k shares at a strike price of around CA$0.25, costing a total of CA$181k. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. Since March 2022, David's direct individual holding has increased from 20.45m shares to 25.95m. Company insiders have collectively bought CA$449k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Oct 22
Progressive Planet Solutions Inc. Announces the Resignation of Scott Jenkins from Board of Directors Progressive Planet Solutions Inc. announced that Scott Jenkins, CEO of ZS2, has agreed to step down from the Board of Directors of Progressive Planet as a matter of ensuring appropriate independence and governance with respect to the growing commercial and technology development partnership between the two growing companies. His departure is effective October 20, 2022. Recent Insider Transactions • Oct 19
Member of Technical Advisory Board recently bought CA$140k worth of stock On the 12th of October, David Richardson bought around 500k shares on-market at roughly CA$0.28 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$147k more in shares than they bought in the last 12 months. Announcement • Oct 06
Progressive Planet Solutions Inc., Annual General Meeting, Dec 01, 2022 Progressive Planet Solutions Inc., Annual General Meeting, Dec 01, 2022. Announcement • Sep 23
Progressive Planet Solutions Commences Field Trials and Ag-Tech Plant Construction Progressive Planet Solutions Inc. announced the commencing of low-carbon cement field trials and Ag-Tech plant construction. Commencing Field Trials Earlier this month, PLAN received and commissioned a custom-designed batch ball mill ordered in January 2022. In the past, PLAN could only produce lab scale quantities of 100 grams per day. The new mill allows PLAN to produce 500kg of material per day, which is ample quantity for field trials in both the cement and agriculture industries. Immediately upon receiving this mill, PLAN produced and dropped off 500kg of PozGlass(TM) SCM, PozDE(TM) SCM, and PozZeo(TM) SCM samples requested by three companies in Calgary. PozZeo SCM is a zeolite-based SCM designed for the magnesium cement industry. Early Field Trial ResultsZS2 Technologies Inc. ("ZS2"), one of the three companies provided samples, shared 7-day test results for a 33 weight- percent incorporation of PozGlass SCM and PozZeo SCM samples into their magnesium-based cement showing more than twice the required structural capacity of Portland cement. Announcement • Aug 30
Progressive Planet Solutions Inc. to Report Q1, 2023 Results on Sep 29, 2022 Progressive Planet Solutions Inc. announced that they will report Q1, 2023 results on Sep 29, 2022 Recent Insider Transactions Derivative • Aug 11
Member of Technical Advisory Board exercised options to buy CA$260k worth of stock. On the 9th of August, David Richardson exercised options to buy 1m shares at a strike price of around CA$0.15, costing a total of CA$150k. This transaction amounted to 4.1% of their direct individual holding at the time of the trade. Since December 2021, David's direct individual holding has increased from 20.15m shares to 24.45m. Company insiders have collectively bought CA$250b more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jun 30
Progressive Planet Solutions Inc. Announces Products Approval for Use in Canadian Organic Production Progressive Planet Solutions Inc. announced ACTIVATED BARN FRESH™ Poultry Litter Ammonia Control appears in theOrganic Materials Review Institute Canada Products List© as of June 1, 2022, confirming it can be used in certified organic production in accordance with the Canadian Organic Standards. ACTIVATED BARN FRESH™ is the only organic-appropriate acidifier used to reduce ammonia in commercial broiler barns Previously approved for use in US Organic Production, more than 90 million chickens in the US breathe easier and live healthier lives each year because of ACTIVATED BARN FRESH. An OMRI Canada listing opens ACTIVATED BARN FRESH for sale to organic broiler producers in Canada for the first time. In addition to ACTIVATED BARN FRESH, FRESH COOP Odour Control appears in the OMRI Canada Products List© as of June 9, 2022. FRESH COOP is a deodorizer specifically for backyard chicken coops that eliminates harmful ammonia odours and results in a safer environment. Announcement • Jun 08
Progressive Planet Solutions Inc. Unveils New, High-Performing Pozzolan Made from Unique Mineral Asset Progressive Planet Solutions Inc. announced PozDE™ SCM, PLAN's new supplementary cementitious material (SCM) made from diatomaceous earth (DE) that has received exceptional initial test results. PozDE is produced solely from material sourced from PLAN's Red Lake Mine, just 56 km from its head office in Kamloops, BC. The DE is a unique blend that includes calcium bentonite and is one of two mines in the world which contain diatomaceous earth with calcium bentonite, and the only one in North America. In initial ASTM C311 tests under the direction of Dr. Michael Thomas, PozDE registered a 7-day Strength Activity Index (SAI) value of 101% and a 28-day SAI value of 120% compared to the Portland cement control. Additionally, PozDE registered at 98% water-demand indicating less water to achieve an equivalent flow to the Portland cement control. Based on the exceptional ASTM test results, PLAN is now focused on commercializing two SCMs: PozDE™, which is made from 100% diatomaceous earth from the Red Lake Mine; and, PozGlass™ 100G, which is made from 100% post-consumer glass using a patent pending process which also sequesters CO2 during the production process. No further work will be conducted on blending glass with natural pozzolan and no further SCM work will be completed on natural pozzolan from the Z1 Quarry as the PozDE has superior attributes and the DE powder is already created as a byproduct of the legacy business of Progressive Planet Products Inc. Announcement • May 10
Progressive Planet Solutions Inc. Promotes Ian Grant to Chief Operating Officer Progressive Planet Solutions Inc. announced the promotion of Ian Grant to Chief Operating Officer. The promotion of Grant comes on the heels of the Company completing its successful acquisition and integration with Absorbent Products Ltd. and its expansion of regenerative fertilizer operations. Previously serving as Vice President of Business Development, Grant brings years of leadership and industry experience to the COO position driving commercialization of PLAN's initiatives in the low-carbon cement and regenerative fertilizer industries while collaborating with executive team members. In his new role, Grant will work closely with CEO Steve Harpur to oversee operations and development of its micronized mineral technologies in addition to supporting the growth of the Company's current lines of business. Grant has relocated his family to Kamloops, with Kamloops being the new joint head office for PLAN and Progressive Planet Products Inc. Executing on the Company's growth plan, Grant will be leading the shutdown of the seasonal regenerative fertilizer pilot plant in Spallumcheen, BC, moving key equipment to expand the full commercial plant in Kamloops, BC. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. Member of Technical Advisory Board Earl Jenson is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Feb 25
Progressive Planet Solutions Inc. announced that it has received CAD 6.114675 million in funding On February 23, 2022, Progressive Planet Solutions Inc. closed the transaction. The company issued 6,000,000 units for proceeds of CAD 2,100,000 in its second and final tranche. Announcement • Feb 24
Progressive Planet Solutions Inc. (TSXV:PLAN) completed the acquisition of Absorbent Products Ltd. for CAD 14.1 million. Progressive Planet Solutions Inc. (TSXV:PLAN) signed a binding share purchase agreement to acquire Absorbent Products Ltd. for CAD 16.3 million on December 24, 2021. The total consideration payable by Progressive Planet is CAD 16.3 million, and consists of (A) CAD 13.3 million in cash and assumption of debt, and (B) CAD 3 million in equity. The equity portion will be paid via issuing CAD 1.2 million in common shares of Progressive Planet at the time of closing, with CAD 0.9 million in equity being issued one year from the date of closing and CAD 0.9 million in equity being issued one year later. The cash component of the consideration will be funded by way of bank financing and from proceeds of a concurrent private placement financing. As per the filling on January 28, 2022, Progressive Planet Solutions has engaged the Bank of Montreal to provide CAD 8.683 million as new secured debt. Absorbent reported over CAD 20 million in its latest fiscal year. Completion of the acquisition is subject to numerous conditions, including the receipt of all necessary TSX Venture Exchange approvals and is also subject to Progressive Planet obtaining financing, including completion of private placement of CAD 3.15 million. As of January 10, 2022, Progressive Planet Solutions received conditional approval from the TSX Venture Exchange for the acquisition of Absorbent Products Ltd. The completion of the Proposed Transaction remains subject to, among other things, final approval by the TSXV and fulfillment of TSXV requirements. As of February 10, 2022, Progressive Planet has closed a non-brokered first tranche of its private placement financing of units (the "Offering") for gross proceeds of $4,014,675. Proceeds from the first tranche will be used toward payment of the cash consideration payable by the Progressive Planet.
Progressive Planet Solutions Inc. (TSXV:PLAN) completed the acquisition of Absorbent Products Ltd. for CAD 14.1 million on February 22, 2022. At closing, Progressive Planet paid the former APL shareholders CAD 8.9 million, assumed CAD 2.1 million of debt, and issued 3.4 million common shares at a price of CAD 0.35 per share. The shares issued have a four month hold period expiring June 19, 2022. An additional CAD 1.8 million will be paid in equity consideration on an annual basis over the next two years, with shares to be issued at a deemed price per share equal to the greater of (a) CAD 0.35 per share or (b) the 50-day volume weighted average trading price of the Company's common shares in the days immediately preceding each issuance. Progressive Planet will continue to support current Absorbent Products business operations and eco-conscious product lines. With the completion of the acquisition, Progressive Planet will relocate its head office to Kamloops, British Columbia. Board Change • Jan 12
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. Member of Technical Advisory Board Earl Jenson is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Dec 25
Progressive Planet Solutions Inc. (TSXV:PLAN) signed a binding share purchase agreement to acquire Absorbent Products Ltd. for CAD 16.3 million. Progressive Planet Solutions Inc. (TSXV:PLAN) signed a binding share purchase agreement to acquire Absorbent Products Ltd. for CAD 16.3 million on December 24, 2021. The total consideration payable by Progressive Planet is $16.3 million, and consists of (A) CAD 13.3 million in cash and assumption of debt, and (B) CAD 3 million in equity. The cash component of the consideration will be funded by way of bank financing and from proceeds of a concurrent private placement financing. The equity portion will be paid via issuing CAD 1.2 million in common shares of Progressive Planet at the time of closing, with CAD 900,000 in equity being issued one year from the date of closing and CAD 900,000 in equity being issued one year later. Absorbent reported over $20 million in its latest fiscal year. Completion of the acquisition is subject to numerous conditions, including the receipt of all necessary prior TSX Venture Exchange approvals and is also subject to Progressive Planet obtaining financing, including completion of private placement of CAD 3.15 million. Announcement • Dec 07
An unknown buyer acquired an unknown minority stake in Snow Lake Resources Ltd. (NasdaqCM:LITM) from Progressive Planet Solutions Inc. (TSXV:PLAN). An unknown buyer acquired an unknown minority stake in Snow Lake Resources Ltd. (NasdaqCM:LITM) from Progressive Planet Solutions Inc. (TSXV:PLAN) on December 6, 2021.
An unknown buyer completed the acquisition of an unknown minority stake in Snow Lake Resources Ltd. (NasdaqCM:LITM) from Progressive Planet Solutions Inc. (TSXV:PLAN) on December 6, 2021. Board Change • Nov 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. Member of Technical Advisory Board Earl Jenson is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Oct 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. Member of Technical Advisory Board Earl Jenson is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Executive Departure • Aug 04
Consultant David Cross has left the company On the 1st of August, David Cross' tenure as Consultant ended after less than a year in the role. As of March 2021, David still personally held only 1.50m shares (CA$37k worth at the time). David is the only executive to leave the company over the last 12 months. Announcement • Jun 24
Progressive Planet Solutions Inc. Receives Positive Results in Pozglass™ SCM Testing Progressive Planet Solutions Inc. announced the positive accelerated-cure Resistance to Chloride Ion Penetration (RCP) test results for its PozGlass™ SCM product. The Company is focused on delivering economic and eco-friendly solutions for the cement and concrete industry. Based on the better-than-expected accelerated-cure RCP test results, management believes the market potential for the proprietary formulation and process in the blending of natural pozzolans and recovered post-consumer glass could be larger than originally expected. Measuring RCP is essential because permeability is a factor in the long-term durability of concrete. Lower permeability results in longer lasting concrete because the metal rebar in the concrete is better protected from outside chemical attack. This is especially important in coastal saltwater environments, where the bulk of the world's concrete is produced, and applications where de-icing salts are used. The 28-day accelerated-cure RCP testing was led by Dr. Michael Thomas from C&CS Atlantic. Announcement • Jun 23
Countryman Investments Ltd. acquired a 3.36% stake in Progressive Planet Solutions Inc. Countryman Investments Ltd. acquired a 3.36% stake in Progressive Planet Solutions Inc. on June 21, 2021. The Warrants were exercised at a price of $0.05 per share for proceeds of $100,000. The Warrants were exercised by the Countryman Investments Ltd. for investment purposes.
Countryman Investments Ltd. completed the acquisition of a 3.36% stake in Progressive Planet Solutions Inc. on June 21, 2021. Announcement • Apr 28
Progressive Planet Solutions Inc. Announces the Successful Completion of Phase One of Two Phase Test Program for its PozGlassTM SCM Product Progressive Planet Solutions Inc. announced the successful completion of Phase One of a Two Phase test program for its PozGlassTM SCM product. The company is focused on delivering an attractive economic and environmentally advantageous solution to replace fly ash in concrete. Based on Phase One results, management believes this is achievable using proprietary formulations and processes in the blending of natural pozzolans and recovered post-consumer glass. Upon successful completion of Phase Two tests, management will move to a full-scale commercial roll-out of the PozGlass SCM product in Western Canada and the Pacific Northwest. The objective is to displace fly ash, a by-product of burning coal for electricity generation, with an environmentally friendly product that also enhances performance in ready mix and pre-cast concrete. Fly ash is the most widely used Supplementary Cementitious Material (SCM) for concrete. On January 25, 2021, PLAN announced that it had engaged C&CS Atlantic Inc. to complete testing required to commercially launch PozGlass SCM with Phase One testing projected to be completed by the end of April 2021. Dr. Michael Thomas leads C&CS Atlantic. He is a Professor in the Department of Civil Engineering at the University of New Brunswick (UNB), a registered Professional Engineer in the province of New Brunswick and has been working in the field of cement and concrete research since 1983. Prior to joining UNB in 2002, Michael was on the faculty at the University of Toronto and prior to 1994, worked as a concrete materials engineer with Ontario Hydro in Canada (1991-93) and as a research fellow with the Building Research Establishment in the UK (1986-1991). Dr. Thomas's main research interests are concrete durability and the use of industrial by-products including pozzolans and slag. He has authored more than 200 technical papers and reports including the book "Supplementary Cementing Materials in Concrete". Phase One testing focused on pin-pointing proprietary formulations that would enhance durability, workability, and usability factors when replacing portions of Portland Cement in concrete. Concrete is routinely produced with between 10-50% replacement of Portland Cement with SCMs such as fly ash. It is the company's objective to maximize potential environmental benefits with PozGlass SCM by using a blend of PLAN's natural pozzolans and a maximum amount of recovered post-consumer glass, while still mitigating Alkali-Silica Reactivity (ASR). Over 70% of post-consumer glass currently goes to landfill. PozGlass SCM diverts this glass from landfill while providing a CO2 offset of nearly 1 tonne for every 1 tonne of PozGlass SCM. Tests completed in Phase One in determining the ideal recipe included: ASTM C618/C311 tests to determine water demand and strength-activity index, CSA A23.2-25A tests to determine strength of mortar cubes produced with lime and pozzolan, ASTM C1897 R3 bound water tests for determining chemical reactivity of pozzolans, ASTM C1567 Alkali-Silica Reactivity (ASR) expansion tests, ASTM C441 ASR (Pyrex) tests, and concrete slump trials. Using the results from the above tests, PLAN has now finalized the recipe of natural pozzolan and post-consumer glass in its PozGlass SCM product and Phase One testing is now complete, ahead of schedule. Phase Two testing has commenced and focuses on testing concrete durability, including compressive strength, chloride permeability testing (RCP) and sulphate resistance. RCP testing determines the chemical resistance to chlorides such as de-icing chemicals and salt water. Less permeability also means reinforcing (rebar) is better protected from outside chemical attack, increasing the long-term durability of the reinforcing and thus increasing the life expectancy of the concrete. A lower RCP number is particularly important for concrete produced in coastal cities' saltwater environments. With testing ahead of schedule, PLAN expects to have in hand the accelerated RCP test results by late May. and the full results by end of July 2021. General Use (GU) Portland Cement and Portland Limestone Cement (GUL) are not resistant to sulphate attack without the addition of appropriate proportions of an SCM. Resistance to sulphate attack is required in many concrete and precast applications-such as pilings, slabs, walls, septic tanks, storm sewers, etc. that are exposed to sulphate-rich soils, groundwaters, manures, sewage, and/or silage. Successful test results would further increase the market potential for PozGlass SCM. The 6-month sulphate resistance test was commenced ahead of schedule on April 6, 2021 with results available in early October 2021. In addition, PLAN has kicked-off extensive compressive strength testing on its PozGlass SCM recipe and results will be gathered over the next two months. Full compressive strength testing information will be available in mid-June 2021. Information gathered in Phase Two will be used to facilitate early-discussions with concrete producers as PLAN moves to full-scale commercialization of PozGlass SCM. The initial target region is Western Canada and the Pacific Northwest with the speed of the roll-out determining timing of expansion into other areas in North America. Announcement • Feb 23
Progressive Planet Solutions Inc. Announces Advisory Board Appointments Progressive Planet Solutions Inc. announced the appointment of Randy Gue and Chris Halsey-Brandt, CPA, CA, CBV to the company's Advisory Board. Randy will advise on introducing Progressive Planet's developing product offerings into the marketplace with the initial focus on markets for PozGlass SCM. Randy spent 17 years with Lafarge Canada as the Director of Business Development and Resource Recovery where he led Lafarge's Western North American initiative to reduce variable operating costs by developing business-to-business relationships primarily related to the recovery and reuse of wastes and by-product streams from industries and institutions. Chris will assist in financial analysis of the first PozGlass SCM manufacturing plant and will also assist in evaluating opportunities to grow the company through strategic acquisitions. Chris is both a Chartered Professional Accountant (CPA) and a Chartered Business Valuator (CBV). Chris currently owns and operates a successful food processing business. Prior to becoming an entrepreneur, Chris was a Partner at Blair Mackay Mynett Valuations Inc., a leading independent firm in Vancouver providing business valuation services. Recent Insider Transactions Derivative • Feb 21
Independent Director exercised options and sold CA$109k worth of stock On the 19th of February, Dwayne Melrose exercised 367k options at a strike price of around CA$0.05 and sold these shares for an average price of CA$0.35 per share. This trade did not impact their existing holding. Since June 2020, Dwayne's direct individual holding has increased from 300.00k shares to 1.10m. This was the only transaction from an insider over the last 12 months. Announcement • Feb 13
Progressive Planet Solutions Inc. announced that it has received CAD 1.4 million in funding from Countryman Investments Ltd. On February 12, 2021, Progressive Planet Solutions Inc. (TSXV:PLAN) closed the transaction. The transaction included participation from David Richardson for 725,000 units for proceeds of CAD 145,000. The company has paid finder's fee of CAD 53,000 in cash and issued a total of 53,000 warrants to three finders. Each finder's warrant will entitle the holder to purchase a common share at a price of CAD 0.20 per share on or before February 12, 2023. Announcement • Feb 02
Progressive Planet Solutions Inc Announces Management Changes Progressive Planet Solutions Inc. announce the appointment of Brian Sheppard and Nicole Stefenelli to the company's Advisory Board, and Dr. Chad Vecitis to its research team.Sheppard will advise on marketing and communication efforts. He has over 25 years of experience at Canada's leading advertising agencies, working on many of the country's most powerful brands. Sheppard is currently the Executive Creative Director of Saatchi & Saatchi Canada. In addition to creating effective, award-wining advertising, he is also an instructor in the Advertising faculty of the Ontario College of Art & Design (OCADU) in Toronto. Stefenelli will advise on procurement of commercial amounts of post-consumer glass and other commodities required for the commercialization of PozGlass SCM. She is CEO and Founder of Urban Impact Recycling, a well-established recycling company serving customers in British Columbia'sLower Mainland. Stefenelli brings three decades of experience in the field of finding solutions to the growing problem of corporate and institutional waste. In 2010 she won the Ernst & Young CEO of the Year in the Cleantech category. Dr. Vecitis has been contracted to provide expertise and guidance in regard to carbon sequestration in cellular concrete. Dr. Vecitis is the CTO and Co-Founder of Nth Cycle that is redefining the metal supply chain by developing novel metallurgic technologies. Announcement • Jan 26
Progressive Planet Solutions Inc. announced that it expects to receive CAD 1.4 million in funding Progressive Planet Solutions Inc. (TSXV:PLAN) announced a non-brokered private placement of up to 7,000,000 units at a price of CAD 0.20 per unit for gross proceeds of CAD 1,400,000 on January 25, 2021. Each unit consists of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase a common share at a price of CAD 0.25 per share for a period of two years. The transaction will include participation from Countryman Investments Ltd for 500,000 units. The company may pay finder's fee of up to 5% and issue up to 10% warrants. Each finder warrant will entitle the holder to purchase a common share at a price of CAD 0.20 for a period of two years. All securities issued are subject to hold period of four months. Is New 90 Day High Low • Jan 23
New 90-day high: CA$0.26 The company is up 410% from its price of CA$0.05 on 23 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 2.0% over the same period. Announcement • Jan 22
Progressive Planet Solutions Inc. announced that it has received CAD 1 million in funding from Countryman Investments Ltd., The Howard Group Inc., and other investors On January 20, 2021, Progressive Planet Solutions Inc. (TSXV:PLAN) closed the transaction. The company has issued 7,500,000 hard dollar units for gross proceeds of CAD 750,000 in its second and final tranche. Each such unit will consist of one share and one share purchase warrant entitling the holder to purchase an additional share in the Company for CAD 0.15 per share if exercised on or before January 20, 2023. The transaction included participation from The Howard Group Inc. for 350,000 units for a total of CAD 35,000. The company has paid finder’s fee of CAD 27,750, and issued an aggregate total of 277,500 finder’s fee warrants in connection with this private placement to three finders. Each finder’s fee warrant will entitle the holder to purchase a common share of the company at an exercise price equal to CAD 0.10 per share, on or before January 20, 2022. All securities issued under the financing will be subject to a statutory four month hold period and securities will bear legends restricting resale until May 21, 2021. Is New 90 Day High Low • Jan 18
New 90-day high: CA$0.20 The company is up 242% from its price of CA$0.06 on 19 October 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. Announcement • Dec 23
Progressive Planet Solutions Inc. announced that it expects to receive CAD 0.55 million in funding from Countryman Investments Ltd. Progressive Planet Solutions Inc. (TSXV:PLAN) announced a non-brokered private placement of up to 3,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 300,000 and 2,500,000 flow through units at CAD 0.10 per flow through unit for gross proceeds of CAD 250,000, for aggregate gross proceeds of up to CAD 550,000 on December 22, 2020. The transaction will include participation from existing investor Countryman Investments Ltd. for 1,000,000 units and a director of the company for 800,000 flow through units. Each unit will consist of one common share and one common share purchase warrant of the company. Each warrant will entitle the holder to acquire one additional common share of the company at an exercise price of CAD 0.15 per share for a period of 24 months from the date of closing. Each flow through unit will consist of one flow through common share and one-half of a common share purchase warrant of the company. Each warrant will entitle the holder to acquire one additional common share of the company at an exercise price of CAD 0.15 per share for a period of 12 months from the date of closing. The company may pay 5% cash finders’ fee and 5% finder's fee warrants on the hard dollar financing only, subject to TSXV requirements. Finder's fee warrants will have an exercise period of 12 months, and an exercise price equal to CAD 0.10 per share. There will be no finder’s fees paid on the flow through financing. Announcement • Dec 20
Progressive Planet Solutions Inc. Completes the 2020 Summer Exploration Program with Positive Results on Its 100% Owned Heffley Creek Metals and Pozzolan Property in Bc Progressive Planet Solutions Inc. announced that it has completed the 2020 Summer Exploration program with positive results on its 100% owned Heffley Creek Metals and Pozzolan Property in BC. PLAN has progressively reported through the summer of 2020 the results and discovery of a nickel and chromium soil anomalies, which were then confirmed by detailed rock sampling. The nickel and chromium anomalous area ranges from 150 to 300 metres in width and 600 to 800 metres in length (PLAN October 28, 2020). The summer program consisted of soil sampling (459 soil samples), rock sampling (271 rock samples) and prospecting. A total of 271 rock samples have submitted for analysis and all results have been received to date. Of the 271 samples, 84 (31%) returned values greater than 0.1% nickel and 43 (15.9%) of those samples returned values greater than 0.2% nickel, with the highest value being 0.27% nickel. Of the 271 rock samples, 59 (21.8%) samples returned values greater than 0.2% chromium and 13 (4.8%) of those samples returned values greater than 0.4 % chromium with the highest values being 0.66% chromium. The anomalous nickel and chromium grab samples were collected in altered leuco-gabbro and serpentinite rocks. There are 2 anomalous nickel chromium samples (+ 0.1 % Ni and + 0.1% Cr) 500 metres to the south along this trend. The area between the 2 anomalous trends will be sampled in detail in the future, but with the lack of outcrop in this area and the beginning of snow fall at the high elevation of the area, this work will commence in the Spring of 2021. All rock samples were also analyzed for gold. A total of 9 (3.3%) grab samples returned values over 0.1 g/t gold with the highest grab sample returned 0.6 g/t gold. Figure 3 illustrates the location of the anomalous gold samples within an area approximately 200 metres wide by 800 metres long with abundant quartz boulders and gabbroic bedrock with quartz stringers and veins. There is no correlation with gold and the nickel chromium. As part of the check analysis program, 62 rock samples selected and were re-analyzed using Whole Rock Fusion/X-Ray Fluorescence Spectroscopy (XRF) at the ALS Canada metallurgical facility in Kamloops. XRF reported an increase of chromium content compared to the 4 acid digestion ICP that was initially used. To verify the chromium results and as a further check, all rock samples were then subjected to Whole Rock Fusion/X-Ray Fluorescence Spectroscopy (XRF) and conducted by ALS Canada Geochemical Division. The comparison of the XRF results with the original 62 XRF check samples have a very high repeatability. When comparing the two analytical methods for chromium results, the XRF values on average returned higher chromium values at an average ratio of 1.6 times. As the XRF method is a more precise method, all chromium results reported in this release and in the future will be based of the XRF analytical method. Analyses were completed by the Metallurgical division and also the Geochemical division of ALS Canada. Base metal contents were measured by aqua-regia digestion and analysis on ICP-AES. The Precious Metals analyses were completed on all samples using fire assay fusion followed by AA finish (Au) or ICP finish (Pt and Pd) to measure gold, platinum, and palladium. Silver was measured using aqua regia digestion. All rock samples were also analyzed by 14 element Whole Rock Fusion/X-Ray Fluorescence Spectroscopy (XRF). Announcement • Oct 05
Progressive Planet Solutions Inc. announced that it has received AUD 0.30475 million in funding On September 30, 2020, Progressive Planet Solutions Inc. (TSXV:PLAN) closed the transaction. The company issued 3,150,000 non flow through units for proceeds of CAD 204,750 and 1,250,000 flow through units for proceeds of CAD 100,000 for gross proceeds of CAD 304,750. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction includes participation from 12 placees including Harpur, Chairman and Chief Executive Officer for 125,000 shares, and Dave Cross, Chief Financial Officer, for 75,000 shares. The company paid finder's fees of CAD 5,250 in cash and 80,000 warrants to Mackie Research Capital Corp and CAD 2,600 in cash and 40,000 warrant to Canaccord Genuity Corp. Finder's fee warrants have an exercise period of 12 months, and an exercise price equal to CAD 0.10 per share. Announcement • Sep 04
Progressive Planet Solutions Inc. Auditor Raises 'Going Concern' Doubt Progressive Planet Solutions Inc. filed its Annual on Aug 28, 2020 for the period ending Apr 30, 2020. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Announcement • Aug 26
Progressive Planet Solutions Inc. announced that it expects to receive AUD 0.4675 million in funding Progressive Planet Solutions Inc. (TSXV:PLAN) announced a non-brokered private placement of 3,500,000 units at a price of CAD 0.065 per unit for gross proceeds of CAD 227,500 and 3,000,000 flow-through units at a price of CAD 0.08 for gross proceeds of CAD 240,000 for aggregate gross proceeds of CAD 467,500 on August 25, 2020. Each unit consists of one share and one half warrant exercisable at CAD 0.1 for a period of twelve months and each flow-through unit consisting of one flow-through common share and one half warrant exercisable at CAD 0.1 for a period of twelve months. The company may pay finder's fee in the transaction. Eligible finders may receive a 5% cash finders’ fees and 5% finder's fee warrants, subject to TSXV requirements. Finder's fee warrants will have an exercise period of 12 months, and an exercise price equal to CAD 0.10 per share in relation to the "hard dollar" financing and CAD 0.10 per share in relation to the "flow through" financing. All securities issued under these financings are subject to a statutory four month hold period.