(TheNewswire)
November 22, 2022 – TheNewswire - Vancouver, BritishColumbia - Clean Seed Capital Group Ltd.(“ Clean Seed ” or the “ Company ”) (TSXV:CSX) is pleased to announce our technology team completed thefinal stages of the MINI-MAX™ winter wheat seeding technologydemonstrations in Punjab and Haryana, in collaboration with NorthernFarmers Mega FPO and Chandigarh University.
MINIMAX™ Program accomplishments:
-
Completed final phase of MINI-MAX™ technologydemonstrations (winter wheat in multiple conditions) in NorthernRegions of India.
-
Detailed discussions with the Government of Punjab,Haryana and Center Government about the role of the Government inFarmer welfare while working toward a sustainable farming model. Thekey strategies included the subsidy for multi-crop no-till MINI-MAX™along with other incentives like carbon credits for the farmers to useMINI-MAX™.
-
Detailed planning session with Government officialsregarding financially subsidizing MINI-MAX™ for farmers.
-
Attended CII Agro Tech 2022 Conference in India onNovember 4, 2022.
-
Completed CEO roundtable with industry leaders fromvarious industries including agro inputs, agro banking, produceprocessing and other agriculture related companies, regarding thebenefits of a fully integrated farming supply chain model and how towork towards its realization.
We would like the thank the following individuals andgroups for their time and contributions towards our efforts to bringMINI-MAX™ to India.
-
-
Minster of Agriculture, Government of Haryana.
-
Honorable Minister - Food Processing Horticulture andFreedom Fighter, Defense Services Welfare, Government ofPunjab
-
Honorable Minister – Agriculture Farmers’ Welfare,Government of Punjab
-
Chairman, CII Punjab President, Ganga AcrowoolsLtd
-
IFS, Director Horticulture, Government of Punjab StateNodal Officer for AIF in Punjab
-
IAS, Additional Chief Secretary, Agriculture Farmers’ Welfare, Government of Punjab
-
IAS, Secretary, Horticulture, Government ofPunjab
-
Our successful efforts in India to date have verifiedthat the MINI-MAX™ can bring a paradigm shiftto farming in India with its unique stubble management and truezero-till one-pass precision multi-crop seeding and fertilizerapplication capabilities . Alterations to the current practices such as stubble burningand poor residue management continue to be a priority for India and demand for SMART Seeder™ technology is gainingtraction in India with support from Government officials, farmerco-ops, customers and manufacturers.
Thank you to the CanadianConsulate General’s Office in Chandigarh and the Saskatchewan Tradeand Investment Office in New Delhi for your continued support as wecompleted our program.
Graeme Lempriere, Chairman & CEO states:
“ India is one ofthe world's biggest agricultural markets and is projected to be one ofthe world’s fastest growing economies in 2022 with a projectedgrowth rate at 6.7%. India is focused on adopting new technologiesthat address the environmental challenges currently facing theagriculture sector. India has substantial room for collaborativeeconomic development within the agricultural sector and Clean Seed isfirmly rooted in its commitment to contribute to the advancement ofthe sector. I would like to thank our team for its tireless effortsboth on the ground in India and here at home to bringMINI-MAX ™ to India for 2023.”
Other Matters
The Company has amended a promissory note totaling$510,500 whereby the lender agreed to advance the Company anadditional $400,000 to increase the principal amount under the note to$910,500. The promissory note will continue to bear interest of 8% perannum and will now mature on March 31, 2023. Funds will be used forgeneral working capital purposes. As consideration for amending thepromissory note, the Company will issue the creditor 2,000,000 bonuswarrants (the “Bonus Warrants”). Each Bonus Warrant will entitlethe holder to purchase one common share of the Company at a price of$0.20 per share until March 31, 2023. The Bonus Warrants will besubject to approval of the TSX-V and will be subject to a hold periodof four months and a day in accordance with the rules and policies ofthe TSX-V and applicable Canadian securities laws.
ON BEHALF OF THE BOARD
“Graeme Lempriere”
Chairman and CEO
For further information please contact Clean Seed at604-566-9895 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 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 expressionssuggesting future conditions or events or the negative of these termsare generally intended to identify forward-looking information.Forward-looking statements are necessarily based upon a number ofestimates and assumptions that, while considered reasonable, aresubject to known and unknown risks, uncertainties, and other factorswhich may cause the actual results and future events to differmaterially from those expressed or implied by such forward-lookingstatements. There can be no assurance that such statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Clean Seeddisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by law.
Copyright (c) 2022 TheNewswire - All rights reserved.