(TheNewswire)
August 11, 2021 - TheNewswire - Vancouver, BritishColumbia - Clean Seed Capital Group Ltd. (“ Clean Seed ” or the “ Company ”) (TSXV:CSX) (OTC: CLGPF ) reports the following update:
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- SMART Seeder MAX™ Model Year 2022Approaching Fully Committed
Clean Seed is happy to announce retail sale ordercommitments for most of the Model Year 2022 production run and isexpecting to finalize these concurrent with signing up dealers. Theseorders are primarily for our flagship SMART Seeder MAX-S™ (withsingulation) and our SMART Seeder MAX-5™ (5 product volumetric). All orders are for dealers and customers in Western Canada.
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- Distribution Update
In April 2021 Clean Seed launched a campaign to becomea SMART Seeder MAX™ dealer or Agronomy Partner in key geographicareas in Western Canada, USA, and in key future export markets. Clean Seed plans to formally announce dealers and agronomy partnerslater this summer in conjunction with Fall 2021 demonstrationplans.
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- Upcoming Trade Shows
As previously announced, Clean Seed will be attendingupcoming farm shows in Canada and the United States to showcase theSMART Seeder MAX™ technology and products as follows:
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a) Ag SMART – Olds College,Olds Alberta – August 10-11, 2021
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b) Farm Progress Show –Decatur, Illinois – August 31 – September 2, 2021
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c) Big Iron Farm Show – Fargo,North Dakota – September 14-16, 2021
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- Fall and Winter CropDemonstrations
The SMART Seeder MAX™ demonstration units aretargeting several thousand demonstration acres for fall and wintercrop seeding. These customer and technology focused demonstrationswill take place in August and September 2021. Please contact ButchSinclair at bsinclair@cleanseedtechnologies.com if you have interest in seeing a SMART Seeder MAX™ in yourarea.
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- Saskatoon Assembly Facility andSupply Chain Update
The Saskatoon Assembly facility has started to breakground with the steel for the buildings on site to be erectedshortly. Clean Seed expects to have access to the completed facilityby November 1 st to begin the assembly of the Model Year2022 SMART Seeder MAX™ order commitments. In the meantime, CleanSeed has entered into a temporary lease for a small facility inSaskatoon for production parts storage, employee training, andoperations. As with all manufacturers there has been significantconcern with shortages and delays in supply chain parts. We have notidentified any critical production component shortages for our modelyear 2022 production at this time.
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- Expected Model Year 2022 MachineDeliveries
Clean Seed expects to begin model year 2022 machinedeliveries of the SMART Seeder MAX from our Saskatoon facility at theend of the calendar year. On-site training for setup, pre-delivery,customer operation, and dealer support will be scheduled inJanuary-February 2022.
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- Warrant Exercise
The Company has received proceeds of $1,370,000 fromthe exercise of 2,740,000 share purchase warrants.
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- Stock Option Grant
The Company has granted an employee 300,000 stockoptions at a price of $0.50 per share until February 28, 2025 and hasgranted two consultants and aggregate of 252,000 stock options at aprice of $0.55 per share until December 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. are listed on theTSX Venture Exchange and trade under the symbol "CSX".
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 MAX™ technologies are revolutionaryseeding tools that utilize the unique synergy of sophisticatedelectronic metering and intuitive software control putting row-by-rowvariable rate technology at the forefront of agricultural innovation. Our innovations create a new class of highly accurate seedingequipment designed specifically for today’s farmer.
For further information please contact Clean Seed at 604-566-9895 andvisit our website at http://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 offeror a solicitation of an offer of securities for sale in the UnitedStates. The common shares of Clean Seed Capital Group Ltd. have notbeen and will not be registered under the U.S. Securities Act of 1933,as amended, and may not be offered or sold in the United States absentregistration or an applicable 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.
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