PlasCred Circular Innovations Inc. Announces Alberta Innovates Project Update

Executive Summary

• PlasCred reports progress on its Alberta Innovates‑funded engineering work for the Neos commercial‑scale plastic recycling facility.
• The company completed an additional equity draw, issuing 1,176,408 shares at $0.0854 per share and raising CAD $100,462 for working capital.
• Management continues to pursue larger financing to fund construction of Neos and will provide updates as new developments occur.

Key Details

• Alberta Innovates Funding: Approximately CAD $500,000 awarded (originally announced April 8 2025) used to validate reactor performance, operating parameters, and process behavior for mixed plastic waste streams.
• Neos Facility Design: Target capacity of ~100 tonnes per day of mixed plastic waste; product sold at CAD $120 per barrel under a 5‑year fixed‑price offtake agreement with a global commodities company (including freight).
• Equity Growth Agreement Draw: Completed an additional draw under the April 29 2024 Equity Growth Agreement with an arm’s‑length institutional investor.
  • Raised CAD $100,462.
  • Average subscription price: $0.0854 per share.
  • Shares issued: 1,176,408 (subject to resale restrictions).
  • Post‑issuance basic shares outstanding: 89,276,408; fully diluted shares outstanding: 118,446,408.
• Pricing Formula: Subscription price equals 90 % of the lower of the daily VWAP for the 20 days preceding the investment date, multiplied by the average daily share volume over the same period.
• Future Capital Raising: Ongoing discussions with institutional investors for a larger capital raise to fund Neos construction; updates will be provided as developments occur.

Notable Quotes

“This work strengthens our confidence as we advance Neos towards construction,” said Troy Lupul, President and CEO. “In conjunction with this, we continue to explore all financing avenues for the ultimate building of the Neos plant.”