Vancouver, British Columbia / TheNewswire / August 29, 2017 - Clean Seed Capital Group Ltd. ("Clean Seed" or the "Company") (TSX-V: CSX) has appointed Mr. Gary Anderson to its Board of Directors. Mr. Anderson will be transitioning from the Company's advisory board on which he has been serving since February 2017. Mr. Anderson is the co-founder, former CEO and a current director of Ag Growth International Inc (AGI), a TSX listed company involved in agricultural equipment manufacturing with a current market capitalization of approximately $1B. Since its inception on the Alberta Stock Exchange, Mr. Anderson was a driving force behind AGI's strategic direction, the acquisition and integration of fifteen business units, the development of AGI's people and its ongoing operational performance and improvements. AGI has production facilities across Canada, Midwest United States, United Kingdom, Italy and Brazil. AGI's brands are amongst the most recognized in global agriculture in both the commercial and farm sectors.
Mark Tommasi will be stepping down from the Board of Directors to make room for Mr. Anderson as director. Mr. Tommasi will continue with the Company serving in a management role.
Concurrently, the Company has closed a non-brokered private placement for 2,500,000 common shares ("Shares") of the Company at a price of $0.40 per Share, for gross proceeds of CDN $1,000,000 (the "Offering") to facilitate ongoing operations and general working capital. Mr. Anderson and his family purchased the majority of the 2,500,000 shares of the private placement, bringing his family's ownership in Clean Seed to over six percent. The Company has also granted Mr. Anderson incentive stock options to acquire 100,000 shares of common stock at a price of $0.40 per share for a term of five years.
Mr. Anderson states "It is a distinct privilege for me to become involved in a second inspiring start up opportunity in the agricultural sector. I've been a big fan of Clean Seed's innovative technology and believe the market is waiting with anticipation for its full commercialization. I see Clean Seed as a real game changer for large scale farming operations. Graeme and his team have been extremely diligent and thorough with their field testing and product refinement over the past few years. I look forward to working with the Clean Seed team to contribute to the market penetration and expansion plans of the CX-6 SMART Seeder and future products."
Mr. Graeme Lempriere "It is my pleasure to welcome Gary to our Board of Directors. As we continue to advance our business development activities, Gary will play an active role as both a director and ongoing operational advisor. Gary's wealth of knowledge in manufacturing, strategic growth planning and international markets will be a great asset to our organization as we commercialize the SMART Seeder technology and evaluate other growth opportunities. I would like to thank Mark Tommasi for his service to our board over the years as one of our founding directors. He remains an active team member as our Director of Corporate Communications, a position that he has held since our inception and will continue to play an important role in our company mission."
There were no finders' fees associated with the private placement. All Shares to be issued pursuant to the Offering will be subject to a regulatory hold period of four months and a day in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws, and such other further restrictions as may apply under foreign securities laws.
About Clean Seed Capital Group Ltd.
The common shares of Clean Seed Capital Group Ltd. are listed on the TSX Venture Exchange and trade under the symbol "CSX". Clean Seed is at the forefront of an agricultural shift to unparalleled high definition seeding technologies.
Clean Seed has developed an advanced precision no-till seeding system comprising several individually patented technologies, including in-ground openers, proprietary seed and fertilizer metering, and electronic control systems. Our most recent ground breaking achievement is also our most advanced and innovative to date: the award winning CX-6 SMART Seeder(TM), which is an industry first!
The ground-breaking CX-6 SMART Seeder(TM) creates a new niche within the large-scale farm equipment market.
For further information please contact Clean Seed at 604-566-9895 and visit our website at http://www.cleanseedcapital.com.
ON BEHALF OF THE BOARD
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The common shares of Clean Seed Capital Group Ltd. have not been 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 absent registration or an applicable exemption from registration.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements" as defined under applicable Canadian securities legislation. Forward-looking statements herein include, but are not limited to, statements with respect to the future manufacture and sale of equipment. Forward-looking statements are necessarily 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 results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, there is no assurance the manufacturing and sales targets outlined herein will be met; and readers should not place undue reliance on forward-looking statements. Clean Seed disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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