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Plan Closes Non-Brokered Private Placement
Plan Closes Non-Brokered Private Placement Canada NewsWire VANCOUVER,...
About this update from Progressive Planet Solutions Inc.
[{"type":"text","content":"\n \n \n \n Plan Closes Non-Brokered 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. 20, 2021\n \n /CNW/ - Progressive Planet Solutions Inc. (TSXV: PLAN) (\"PLAN\" or \"Progressive Planet\"), announces that, further to its news releases dated\n \n December 22, 2020\n \n and\n \n January 7, 2021\n \n , the Company has closed its non-brokered private placement financing comprising of 7,500,000 units, at\n \n $0.10\n \n per unit, for total gross proceeds of\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 share purchase warrant entitling the holder to purchase an additional share in the Company for\n \n $0.15\n \n per share if exercised on or before\n \n January 20, 2023\n \n . In the event 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 The proceeds of the private placement will be used for general working capital.  Two insiders participated in this private placement.\n \n David Richardson\n \n , a \"control person\" of the Company by reason of holding, directly and indirectly, more than 20% of the Company's issued shares, purchased 1,000,000 units through his company Countryman Investments Ltd., for a total of\n \n $100,000\n \n .  The Howard Group Inc., which provides investor relations services to the Company, purchased 350,000 units for a total of\n \n $35,000\n \n .\n \n \n The Company has paid an aggregate total of\n \n $27,750\n \n in cash finders' fees and issued an aggregate tota...