(TheNewswire)
Vancouver, British Columbia - TheNewswire - November 2, 2023 - Clean Seed Capital Group Ltd. (TSX-V:CSX) (the“ Company ” or “ CleanSeed ”) announces that asa result of delays in the completion of its audit, the Company wasunable to file its financial statements and accompanyingmanagement’s discussion and analysis, and CEO / CFO certifications,for the fiscal year ended June 30, 2023 (collectively, the “AnnualFilings”) by October 28, 2023, being the date that such filings weredue under applicable Canadian securities legislation. The latefiling is due in part, to the resignation of theCompany’s former auditors (see Notice filed on SEDAR+ on May 8,2023).
In response to the reporting delay, the Company appliedto and received from the British Columbia Securities Commission amanagement cease trade order (the “MCTO”) which restricts certainmanagement from trading in securities of the Company until the AnnualFilings are filed. The Company currently expects to file the AnnualFilings on or before December 29, 2023, and will issue a press releaseannouncing completion of these filings when such occurs. Until theCompany files the Annual Filings, it will comply with the alternativeinformation guidelines set out in National Policy 12-203 – Management Cease TradeOrder . The guidelines, among other things,require the Company to issue biweekly default status reports by way ofa news release for as long as the Annual Filings have not been filed. During the MCTO, the general investing public will continue to beable to trade in the Company’s shares.
The Company confirms that, other than as disclosed inprior press releases and material change reports, there have been nomaterial business developments since the filing on May 30, 2023, ofthe Company’s latest interim financial reports for the period endedMarch 31, 2023.
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. arelisted on the TSX Venture Exchange and trade under the symbol“CSX”.
We are a team of innovators and business managementprofessionals with a proven track record of game changing innovationand production of patented agricultural technologies at an incrediblyhigh level. We pride ourselves as progress facilitators that turnsolutions for modern agricultural problem into commercially viableproducts to fulfill new demand.
Clean Seed’s SMART Seeder MAX™ technologies arerevolutionary seeding tools that utilize the unique synergy ofsophisticated electronic metering and intuitive software controlputting row-by-row variable rate technology at the forefront ofagricultural innovation. Our innovations create a new class ofhighly accurate seeding equipment designed specifically for today’sfarmer.
For further information please contact us atinfo@cleanseedcapital.com and visit 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 release.
Forward-Looking Statements
This news release contains“forward-looking information” within the meaning of the applicableCanadian securities legislation pertaining to the timing, review,completion and filing of the Annual Filings, and duration of the MCTO;and other forward-looking information concerning the intentions, plansand future actions of the parties described herein and the termsthereon.
Factors that could cause actualresults to differ materially from those described in suchforward-looking information include, but are not limited to, theCompany may not be able to raise the funds necessary to complete theaudit of its annual financial statements; it may not complete itsaudit and file the Annual Filings as currently anticipated, or at all;and the Company may be subject to a general cease trade order in theevent that the Annual Filings are not completed and filed in the timeanticipated.
The forward-looking information inthis news release reflects the current expectations, assumptionsand/or beliefs of the Company based on information currently availableto the Company. In connection with the forward-looking informationcontained in this news release, the Company has made assumptions aboutthe Company’s ability to complete and file the Annual Filings. TheCompany has also assumed that no significant events occur outside ofthe Company's normal course of business. Although the Company believesthat the assumptions inherent in the forward-looking information arereasonable, forward-looking information is not a guarantee of futureperformance and accordingly undue reliance should not be put on suchinformation due to the inherent uncertainty therein.
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