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Progressive Planet raises C$450,000 for additional infrastructure at Advanced Materials Centre

Shares of Progressive Planet shot up over 11% to sit at $0.05 in Toronto at Friday’s close

zeolite quarry
Progressive Planet is a mineral exploration company with its flagship Z1 Zeolite Quarry in BC, and a 100% interest in the Buckingham Graphite Project in Quebec

Progressive Planet Solutions Inc (CVE:PLAN) closed a financing of C$450,000 to fund further infrastructure at the company’s Advanced Materials Centre in British Columbia.

Shares of Progressive Planet shot up over 11% to sit at $0.05 in Toronto at Friday’s close.

READ: Progressive Planet provides update on zeolite monetization plans

The Vancouver-based company issued 9 million units at $0.05 per unit for a total of $450,00.

Each unit comprises one share and one warrant, exercisable at a price of $0.055 per warrant for 12 months from closing.

The exploration company paid a finder’s fee of around $17,000 and 344,000 broker warrants to an arm’s length party, which are subject to a 4 month holding period.

Progressive Planet is a mineral exploration company with its flagship Z1 Zeolite Quarry in BC, and a 100% interest in the Buckingham Graphite Project in Quebec.

The company also announced that board member Stephen Pearce has resigned from his position effective immediately. In a statement, the exploration company thanked Pearce for his services and wished him the best in his future endeavours.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Progressive Planet Solutions Inc

Price: 0.06 CAD

TSX-V:PLAN
Market: TSX-V
Market Cap: $2.28 m
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