/NOT FOR DISTRIBUTION IN THE USA/
- 531,000 shares purchased at below book value in August 2024
- 2,039,000 shares repurchased from June to August 2024
- All purchased shares have been cancelled
KAMLOOPS, BC, Sept. 25, 2024 /CNW/ - Progressive Planet Solutions Inc. (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company") reports on its third month of the normal course issuer bid (the "NCIB") activity.
On June 3, 2024, Progressive Planet announced that the TSX Venture Exchange had accepted its notice to proceed with a normal course issuer bid.
During the month of August, the Company purchased 531,000 shares for cancellation, at an average purchase price of $ 0.0904 per share.
"In August, we continued buying back shares using the approved normal course issuer bid program. Since the NCIB commenced in June 2024, we have bought back over two million shares. The ability to buy back shares from voluntary sellers at below book value per share continues to add value to the remaining shareholders," stated Steve Harpur, CEO. "August's continued buyback activities reflect leadership's confidence in Progressive Planet's present and future."
With the cancellation of the 2,039,000 shares, the total shares outstanding now stands at 110,457,943.
Progressive Planet provides regular information for investors on its website: progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, and information on corporate governance.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
About Progressive Planet:
Progressive Planet, a manufacturing company operating out of Kamloops, British Columbia, is reimagining what is possible when we prioritize our planet's health. Our expertise lies in developing products using our owned mineral assets and recycled materials to create Products for a Healthy Planet™.
Our C-Quester™ Centre of Sustainable Solutions is proudly disrupting the cement industry and is home to our cement lab. Our second lab on site is geared towards developing products for the agricultural and animal care industries. Our product lines include patented and patent pending products which are developed with the express intent of promoting a healthy planet using naturally occurring minerals and the urban mining of recycled materials. Our products are found in over 10,000 retail stores across North America.
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein including statements regarding the NCIB and the repurchases thereunder as well as the effect of those repurchases, statements regarding the future of the Bromley Creek Zeolite Mine and statements regarding the development of future products. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
Disclaimer:
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.
SOURCE Progressive Planet Solutions Inc.
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