Post by
phantom666 on Feb 22, 2023 8:13pm
Misrepresentation Of Sole Ownership Of Bromley Creek
since 2015.
Should have been "The Majority Owner Of" until Progressive Plant Solutions owns 50%.
On November 30, 2015, the Company entered into a mining operations agreement, with a purchase option, with Absorbent Products Limited (“APL”). Now PLAN - Progressive Planet Solutions
The purchase option terms grant APL (PLAN) the right to acquire a 50% interest in the Company’s Bromley Creek Zeolite Project for a total purchase price of $725,000.
The purchase price may be paid by APL (PLAN) through cash or earn-in by payment of royalties to the Company of $9.00 per metric ton mined and removed from the site. (Now down to $4.50)
The parties have also entered into an Agency Agreement pursuant to which APL (PLAN) will pay to the Company a commission (5% - 20%) on all applicable sales of mineral mined or zeolite processed from the Bromley Creek Zeolite Project.