Progressive Planet’s share buyback program starts strong and increases long-term shareholder value – Company announcement

/NOT FOR DISTRIBUTION IN THE USA/

849,500 shares purchased below book value in June

KAMLOOPS, BC
, July 11, 2024 /CNW/ – Progressive Planet Solutions Inc. (TSXV: PLAN) (OTCQB: ASHXF) (“Progressive Planet”, “PLAN” or the “Company”)a leading company in the development CleanTech Solutions for the Planet, announces the results for the first month of active use of its normal issuer offering (the “NCIB“).

At June 3, 2024Progressive Planet announced that the TSX Venture Exchange had accepted its notification to proceed with a normal issuer offer.

In June, the company purchased 849,500 shares for cancellation. The average purchase price was 0.100088 USD per share.

“In June, we completed our first month of share repurchases under the approved normal course offering program. With the long-term goal of increasing shareholder value, we view the opportunity to repurchase shares from voluntary sellers below book value per share as adding value to remaining shareholders. This month’s activities reflect management’s confidence in the present and future of Progressive Planet,” said Steve HarpurCEOs.

Progressive Planet regularly provides information for investors on its website: progressiveplanet.com/investors/This includes press releases and other information regarding financial developments, patent applications and corporate governance information.

Neither the TSX Venture Exchange nor its regulatory service provider (as this term is used in the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this publication.

About Progressive Planet:

Progressive Planet SolutionsA CleanTech and manufacturing company based in Kamloops, British Columbiais thinking about what is possible when we put the health of our planet first. Our expertise lies in developing critical low-carbon and carbon sequestration solutions using our own mineral resources and recycled materials to create environmentally friendly products that combat climate change and protect the health of our planet.

Our C-Quester™ Centre of Sustainable Solutions is revolutionising the cement, agriculture and animal care industries with its efforts to create low carbon and carbon sequestering products. Our products are developed with the express intention of reducing carbon footprints and improving soil health, using naturally occurring minerals and recycled materials, and are available in over 10,000 retail stores across North America.

Forward-looking statements:

Certain statements in this press release are forward-looking statements that reflect management’s expectations with respect to the matters described herein, including statements with respect to the NCIB and the repurchases under that program and the impact of those repurchases, statements with respect to the future of the Bromley Creek Zeolite Mine and statements regarding the development of future products. Forward-looking statements are statements that are not purely historical in nature, including statements regarding beliefs, plans, expectations or intentions regarding the future. These statements are subject to risks and uncertainties that could cause actual results, performance or developments to differ materially from those contained in the statements. There can be no assurance that the events anticipated in the forward-looking statements will occur or, if they do occur, what benefits the Company will derive from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions that may prove to be incorrect. A number of risks and uncertainties, including factors beyond the Company’s control, could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements are made as of the date of this press release.

Disclaimer:

This press release does not constitute an offering of securities under Canadian law and is not for distribution or dissemination outside Canada.

SOURCE Progressive Planet Solutions Inc.