Progressive Planet Solutions Inc.
PLAN Provides Shareholder Update
Monday, July 22, 2019 9:00 AM
VANCOUVER, BC / ACCESSWIRE / July 22, 2019 / PROGRESSIVE PLANET SOLUTIONS INC. (PLAN-TSX:V) (“PLAN” or the "Company”) is pleased to present a corporate update on the company’s activities.
Our corporate focus has been in developing markets for zeolite extracted from the Z-1 Quarry located in Cache Creek. This focus is consistent with the recently announced divesture by Progressive Planet of its last remaining lithium interest which was announced on July 11, 2019.
When we last issued a shareholder update on February 7, 2019, we announced that our focus for 2019 would be on monetizing zeolite. Since that time, we have made progress in developing commercial markets as follows:
Selling Zeolite into the Cannabis Industry
Since the beginning of our new fiscal year on May 1, 2019, PLAN has made repeat sales to a publicly traded licensed producer of cannabis, which uses Z1 Zeolite as part of its denaturing process for residual cannabis waste per provincial regulatory disposal requirements. At the time of our last shareholder update, this was not identified as a key market.
We have also sent out samples to other companies in the cannabis sector and are receiving interest in the supply of bulk zeolite to various additional companies. We have made additional investment in processing equipment to enable us to supply larger quantities of product to the cannabis industry.
In addition to receiving repeat orders for zeolite from the cannabis industry, we have received a repeat order for glacial moraine rock dust from a customer in July 2019.
Producing our own Supplementary Cementing Materials (SCM)
In our shareholder update of February 7, 2019, PLAN announced that samples of our zeolite were taken by an arm's length BC company owned by engineers with significant experience in the cement industry. These samples were pulverized and tested for their compressive strength in cement mortar using the ASTM C311 Strength Activity Index Test Protocol. Tests concluded that our zeolite had superior strength versus commercially available fly ash (Class F SCM).
This same BC company continues to test the Z1 Zeolite for use as a natural pozzolan with a goal of replacing fly ash for use in commercial concrete. Results for testing under ASTM C441 Alkali Reactivity Mortar Bar Expansion were received in late June 2019. The CSA A3000 maximum for this expansion is 0.10% at 14-days and the Z1 test result showed 0.002% expansion at 14-days. In addition, this same company completed multiple strength activity index tests against ASTM C311 in May 2019 and all tests met the optional requirement of CSA A3000 (>75% strength activity index).
PLAN is currently working with a western Canadian university whereby PLAN will be the corporate sponsor of a research project subject to the successful receipt of a grant by the university under a well-known federal government research assistance program. The research program relates to creating low carbon footprint cementitious materials and will be directed by a professor who is a post-doctoral engineer with over 20 years in concrete research including multiple published papers. The results of this funding application are expected before the end of 2019.
As we are making the transition from exploration to exploration plus development of our Z1 Zeolite Quarry, we are adding staff. PLAN announces the grant of up to 200,000 options that will be granted to two employees, exercisable at a price of $0.05 for a period of two years from the date of grant. The options have been granted in accordance with the Company’s stock option plan.
On November 22, 2018, PLAN announced the appointment of Mr. Reni Proznick to our advisory board with a specific role of advising the CEO on matters relating to the product development work that PLAN was undergoing on battery materials. With the recently announced divestiture of this IP, PLAN has accepted the resignation of Mr. Proznick from the Advisory Board. “I would like to take this opportunity to thank Reni for the hundreds of hours he spent assisting PLAN including travel to Alberta and many hours spent in optimizing equipment for processing zeolite. We will miss Reni and wanted to publicly acknowledge the generous contributions he made,” stated Steve Harpur, CEO.
As an exploration company, PLAN regularly evaluates other mineral properties which it feels could compliment its focus on industrial mineral development.
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, CEO
For further information or investor relations inquiries, please contact us:
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.