(TheNewswire)
May 5, 2022 – TheNewswire - Vancouver, British Columbia - Clean Seed Capital Group Ltd. (“ Clean Seed ” or the“ Company ”) ( TSXV:CSX andOTC:CLGPF ) is pleased to outline springactivities and milestones for the Company.
With the ongoing challenges in agriculture, fromoverseas disruptions, skyrocketing input costs, climate pressures andthe need to feed an ever-growing population, Clean Seed is wellpositioned to capitalize on the global pressures and demands for asustainable future in agricultural production. Our patentedtechnology is the new benchmark in seeding and planting; we limit cropinput costs, increase crop yields and reduce the environmental impact,mitigating the ever-growing pressures in food production. Here aresome of the recent events that have set us up for success in the firsthalf of 2022:
DealershipsAppointments
In preparation for this spring seeding season, theCompany is proud to have appointed two top tier dealers to distributethe SMART Seeder MAX™ product line in Alberta and Saskatchewan:
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Deerland Equipment (Deerland) - a privately-ownedmulti-store dealer network located in Alberta (announced September 15,2021), and
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Canada West Harvest Centre (CAWHC) - a multi-storedealer network located throughout Saskatchewan owned by CLAAS ofAmerica (announced March 31, 2022).
Dealer DemoProgram
Our sales team is working closely with our dealernetworks on our SMART Seeder MAX™ demonstration programs for bothAlberta and Saskatchewan as well as robust dealer training initiativesto assure a strong spring season. We continue to evaluate additionaldealer opportunities in Canada and the United States and expectfurther updates in the coming months. Our dealer demonstrationprograms are a core part of our commercialization strategy to generateconsumer interest and will continue through spring and then transitioninto our trade show programs.
Tradeshow Program
Our trade show program begins with Ag in Motion on July19-21, 2022, the largestoutdoor live demo tradeshow of its kind in Canada with over 30,000attendees . At this event we will feature twoSMART Seeder MAX’s, one as a static display and another runningdaily live seeding demonstrations for attendees. Customers can touchthe equipment, operate the software, compare seeding equipmentoperations side-by-side, and talk to our team face-to-face. CAWHCwill also be on site throughout the event with a full sales team toservice customer needs. We are also excited to announce the presenceof two flagship CLAAS XERION 5000 tractors at the event and wish toprovide a special thank you to CAWHC for providing these amazingunits. After Ag in Motion, Clean Seed will then head tothe heart of farm country inthe United States, Farm Progress USA located inBoone, Iowa. This is the nation’s largestoutdoor farm event running in late August. Forover 50 years, the Farm Progress Show has connected farmers fromacross the globe . There is no better place to engage withthe industry and launch our SMART Seeder MAX™ in theUSA!
We anticipate we will receive purchase orders from theSMART Seeder dealer demonstration program and tradeshow activities forour 2023 SMART Seeder MAX production run.
Mini-MAX on Routeto India
Further to our news release dated January 31, 2022, theCompany has completed production of its Mini-MAX™ demonstration unitand has shipped the unit to India via ocean freight. We areexpecting the Mini-MAX™ to arrive in India in late May. In Junethe Company will commence demonstration activities with one of India'stop agricultural equipment manufacturers. Upon completion of thedemonstration program, we expect to collaborate with this group on acommercialization program for the Mini-MAX™ in India and the othercountries it operates within.
SupplementaryFinancing
To support its spring program and execute its plannedmilestones, the Company announces a non-brokered private placement forgross proceeds of $1,508,750.
The Company will issue 6,035,000units of the Company (the “Units”) at a price of $0.25 per Unit,for gross proceeds of $1,508,750 (the “Offering”). Each Unitconsists of one common share and one-half of one common share purchasewarrant (a “Warrant”). Each full Warrant will entitle the holderto purchase one common share of the Company for a period of 12 monthsfrom the closing date of the Offering at $0.35 per share. In conjunction with the Offering, the Company will payaggregate finder’s fees of $10,425.
All securities to be issued pursuant to the Offeringwill be subject to a regulatory hold period of four months and a dayin accordance with the rules and policies of the TSX Venture Exchangeand applicable Canadian securities laws, and such other furtherrestrictions as may apply under foreign securities
Certain insiders of the Company purchased an aggregateof 380,000 Units in the Offering. The Company has relied on theexemptions from the valuation and minority shareholder approvalrequirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions (" MI 61-101 ")contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect ofsuch insider participation.
Shelf Prospectus
The Company has filed a preliminary shelf prospectuswith the BC Securities Commission (“BCSC”) to provide forflexibility in its long-term capitalization plans. The Company is inreceipt of the initial comments from the BCSC and is working with itscounsel on a final form of prospectus. We anticipate filing thefinal prospectus and receiving final receipt in June 2022.
We look forward to a strong spring season and playing ameaningful role in the future of crop production.
ON BEHALF OF THE BOARD
“Graeme Lempriere”
Chairman and CEO
About Clean Seed Capital Group Ltd.
The common shares of Clean Seed Capital Group Ltd. are listed on theTSX Venture Exchange and trade under the symbol "CSX” and aretraded on the OTCQB Venture market under the symbol “ CLGPF ”.
We are a team of innovators and business management professionals witha proven track record of game changing innovation and production ofpatented agricultural technologies at an incredibly high level. Wepride ourselves as progress facilitators that turn solutions formodern agricultural problem into commercially viable products tofulfill new demand.
Clean Seed’s SMART Seeder™ technologies are revolutionary seedingtools that utilize the unique synergy of sophisticated electronicmetering and intuitive software control putting row-by-row variablerate technology at the forefront of agricultural innovation. Ourinnovations create a new class of highly accurate seeding equipmentdesigned specifically for today’s farmer.
For further information please contact Clean Seed at 604-566-9895 andvisit our website at www.cleanseedcapital.com .
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release .
This press release is not an offer or a solicitation ofan offer of securities for sale in the United States. The commonshares of Clean Seed Capital Group Ltd. have not been and will not beregistered under the U.S. Securities Act of 1933, as amended, and maynot be offered or sold in the United States absent registration or anapplicable exemption from registration.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKINGINFORMATION:
This news release includes certain “forward-lookingstatements” as defined under applicable Canadian securitieslegislation. All information and statements contained herein that arenot clearly historical in nature constitute forward-lookinginformation, and the words “anticipate”, “estimate”,“believe”, “continue”, “could”, “expects”,“intend”, “plans”, "postulates","predict", “will”, “may” or similar expressions suggesting future conditions or events or thenegative of these terms are generally intended to identifyforward-looking information. Forward-looking statements arenecessarily based upon a number of estimates and assumptions that,while considered reasonable, are subject to known and unknown risks,uncertainties, and other factors which may cause the actual resultsand future events to differ materially from those expressed or impliedby such forward-looking statements. There can be no assurance thatsuch statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. There is no assurance as to the quantity of equipment thatmay be sold, that the funds realized under the Offering will be spentin the manner contemplated, or that a final shelf prospectus will bereceipted. Clean Seed disclaims any intention or obligation toupdate or revise any forward-looking statements, whether as a resultof new information, future events or otherwise, except as required bylaw.
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