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Plan Announces Amendment to Private Placement
Plan Announces Amendment to Private Placement Canada NewsWire VANCOUV...
About this update from Progressive Planet Solutions Inc.
[{"type":"text","content":"\n \n \n \n Plan Announces Amendment to Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 7, 2021\n \n /CNW/ - Progressive Planet Solutions Inc. (TSXV: PLAN) (\"PLAN\" or \"Progressive Planet\"), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, is pleased to announce that the size of the non-brokered private placement financing previously announced on\n \n December 22, 2020\n \n , has increased from 3,500,000 units to up to 7,500,000 units, at\n \n $0.10\n \n per unit, for aggregate gross proceeds of up to\n \n $750,000\n \n .\n \n \n \n \n \n \n \n \n \n Each such unit will consist of one share and one warrant exercisable at\n \n $0.15\n \n per share for a period of 24 months from issuance. In the event that the closing price (or closing bid, if no sales were reported on a trading day) of the Company's common shares as quoted on TSX Venture Exchange (or such other securities exchange, quotation system or market on which the common shares are listed and where a majority of the trading volume of the common shares occurs) exceeds\n \n $0.25\n \n per Share for a price of ten consecutive trading days, the Company may, within five days of such event, provide notice by way of news release of early expiry, in which event the warrants will expire 30 days from the date of such news release.\n \n \n Use of proceeds will be for general working capital. Countryman Investments Ltd., a company of which\n \n David Richardson\n \n is the principal is expected to participate in this financing. Mr. Richardson is a \"control person\" of the Company by reason of holding, directly and indirectly, more than 20% of the Company's issued and outstanding shares.\n \n \n There are currently 42,255,711 common shares issued and outstanding. 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...