(TheNewswire)
July 19, 2024 – TheNewswire – Vancouver,British Columbia – Clean Seed Capital Group Ltd. (“Clean Seed”or the “ Company”)(NEX: CSX.H) has applied for and received from the British Columbia Securities Commission(“BCSC”) a partial revocation of the failure-to-file cease tradeorder (“FFCTO”) that was issued by the BCSC against the Company onJanuary 5, 2024, for failing to file certain outstanding continuousdisclosure documents in a timely manner.
The partial revocation order allows the Company to undertake anon-brokered private placement to raise up to $250,000 (the“Offering”) through the sale of promissory notes (“Notes”)having the following terms:
(i) the Notes will mature 12 months from the date ofissuance;
(ii) the Notes will bear interest at the rate of 18%per annum until maturity; and
(iii) the Notes will not be secured against anyassets of the Company and will rank subordinate to certain existingsecured debt instruments of the Company.
In addition, the Company will issue bonus shares to each investor insuch maximum amount as may be approved by the TSX Venture Exchangefollowing reinstatement of the Company’s Shares for trading. Thereis no assurance the TSXV will approve the issuance of any bonusshares.
No commissions or finders’ fees will be paid in connection with theOffering.
The Company intends to use the proceeds from the Offering to prepareand file all outstanding financial statements and continuousdisclosure records, pay all outstanding related fees and penalties,meet certain financial obligations and to continue operations, atwhich time the Company will apply for full revocation of the FFCTO. In accordance with applicable securities legislation, the Notesissued pursuant to the Offering will be subject to a hold period offour months and a day from the date of issuance. All of theCompany's securities issued in connection with the Offering, willremain subject to the FFCTO until it is fully revoked. The granting ofthe partial revocation order by the BCSC does not guarantee theissuance of a full revocation order in the future.
ON BEHALF OF THE BOARD
“Graeme Lempriere”
Chairman and Chief Executive Officer
About Clean Seed Capital Group Ltd.
The common shares of Clean Seed Capital Group Ltd. are listed on theNEX branch of the TSX Venture Exchange and trade under the symbol"CSX.H".
We are a team of innovators and business management professionals witha proven track record of game changing innovation and production ofpatented agricultural technologies at a high level. We pride ourselvesas progress facilitators that turn solutions for modern agriculturalproblems into commercially viable products to fulfill 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 atinfo@cleanseedcapital.com and visit our website atwww.cleanseedcapital.com.
Neither the TSX Venture Exchange,the NEX nor their Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
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