Progressive Planet Solutions Inc.
Progressive Planet Completes First Sale of New Industrial Mineral
Tuesday, May 28, 2019 9:00 AM
VANCOUVER, BC / ACCESSWIRE / May 28, 2019 / PROGRESSIVE PLANET SOLUTIONS INC. (PLAN: TSX-V) ("Progressive Planet" or the "Company") announces that it has started selling glacial rock dust as a soil amendment.
Glacial rock dust is a natural mineral product which is growing in popularity with organic growers. It contains a broad spectrum of trace minerals which are often depleted from soil through modern farming methods.
Progressive Planet became aware of the need for this industrial mineral through a request to supply it by a customer who we supply zeolite to.
"Progressive Planet was approached to supply glacial rock dust and we were able to source glacial rock dust as a finished product and sell it to our customer. Rock dust sells as a premium product and the margins make this a lucrative opportunity. After completing third party lab analysis of multiple local sources of glacial rock dust, we were able to select a local source with an excellent micronutrient profile. We will begin to process the raw product ourselves using equipment that we currently use to process zeolite to further increase the margins. We are excited to begin producing our own glacial rock dust for sale to our customers," stated Steve Harpur, CEO.
The sale was our largest sale to date since the company started to focus on developing industrial mineral products for sale. When our customer ordered over 20 tonnes of rock dust from us, we began immediately searching for our own supply of glacial rock. With the receipt of lab results confirming a suitable micronutrient profile, management made the decision to begin production of rock dust.
The company will seek to maximize the use of its assets to provide industrial minerals to the marketplace. While our primary focus is creating value added products from our own zeolite quarry, we will use our equipment that is not running at full capacity to make value added products from other industrial minerals.
Progressive Planet has also begun receiving requests to provide its customers with additional industrial minerals and is currently evaluating several sources.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia, and a 100% interest in the Buckingham Graphite Project in Quebec. Progressive Planet is committed to using mineral resources to provide solutions for a livable planet.
ON BEHALF OF THE BOARD
Signed "Stephen Harpur"
Stephen Harpur, CPA, CGA
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Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Progressive Planet Solutions Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Progressive Planet Solutions Inc.