Home > Boards > Canadian > Mining/Resources > Ashburton Ventures Inc. New name PLAN - PROGRESSIVE PLANET SOLUTIONS INC (TSXV:PLAN)

PP set for monies to drill properties

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Sam Dan Member Level  Monday, 07/30/18 07:51:35 PM
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PP set for monies to drill properties

"PROGRESSIVE PLANET ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Progressive Planet Solutions Inc. has set the terms of a non-brokered private placement of up to eight million units at a price of five cents per unit for gross proceeds of up to $400,000.

Each unit will be subject to a four-month holding period and will comprise one ordinary share and one full share purchase warrant of the company. Each warrant will entitle the holder to acquire one common share of the corporation for a period of 24 months following the closing date, at an exercise price of 10 cents per warrant share, subject to an acceleration clause if the shares are trading at 15 cents or more for a period of 10 consecutive trading days following the completion of the four-month holding period. Finders' fees may be payable.

The net proceeds from the private placement will be used to finance Progressive Planet's drill program at the Buckingham graphite property during the fall of 2018 and for general working capital.

Progressive Planet is a Canadian-based mineral exploration company with a flagship zeolite mine in British Columbia, a 20-per-cent interest in a lithium project in Manitoba and a graphite property in Buckingham, Que.


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