/NOT FOR DISTRIBUTION IN THE USA/
KAMLOOPS, BC, May 25, 2023
/CNW/ - Progressive Planet (TSXV: PLAN) (OTCQB:
ASHXF) ("Progressive Planet", "PLAN", or the
"Company"), a leader in developing CleanTech solutions for the
planet, advances its strategy to become a global supplier of
natural fertilizers, with a confirmed reorder from a major North
American manufacturer of fertilizer.
On February 27, 2023, Progressive
Planet announced it had received an initial 40-tonne order of its
volcanic-derived fertilizer ingredient, swelling bentonite, used in
popular sulphur bentonite fertilizers. This additional 96-tonne
order continues to expand Progressive Planet's entry into the
$60-Billion USD North American
fertilizer and agrochemicals market.
"Based on our historic customer-retention record, we were highly
confident the initial fertilizer order would be the first of many,"
said Progressive Planet COO Ian
Grant. "Because the fertilizer ingredient is a mineral
by-product from our established operations, each additional sale is
important not only for building our fertilizer business, but also
to boost margins of some of our branded products."
"These branded products are an important piece of our growth
strategy as they provide ready market access to many of the largest
retail chains across North America
for launching new, proprietary fertilizer products," added
Grant.
The dry-form fertilizer segment of the North America fertilizer market is expected to
surpass $24-Billion USD in revenue by
2028, owing to the potential for easy storage and slow-release
rate, which helps in efficiently feeding the crops for a longer
time. Progressive Planet is aggressively developing and
commercially introducing new, proprietary fertilizers into this
market over the next 12 months.
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:
We are a CleanTech and manufacturing company based
in Kamloops, British
Columbia, in the heart of some of Canada's richest
volcanic fields, which are the prime ingredient of our innovations.
Our expertise lies in merging CleanTech with ancient volcanic ash
and recycled minerals to create planet-friendly products that fight
climate change and protect our planet's health.
Our products are in 10,000+ retail stores across North
America. Our innovations, created at our C-Quester™ Centre of
Sustainable Innovation, bring positive disruption to the cement,
agricultural and animal-care sectors by creating products that help
reduce carbon footprints and restore ecosystems.
Forward-Looking
Statements:
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the matters described herein. 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