Posted Sep. 15th, 2015 by Reuters News Service
WINNIPEG/KANSAS CITY, Sept 15 (Reuters) – North American investors are pouring money into agriculture technology despite turbulent financial and commodity markets, as cutting-edge advances that enhance farm production bring opportunities for profits.
Investment in this technology, which spans plant and soil technology to drones, amounted to $2.06 billion in the first half of 2015, on pace to smash last year’s record $2.36 billion, according to AgFunder, which matches startups with investors.
Technology that reduces reliance on chemicals and fertilizers is one area of interest. The most widely used herbicide, glyphosate, was classified this year by the World Health Organization as a probable human carcinogen, and farmers also face scrutiny for over-applying fertilizer.
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September 04, 2015 – Vancouver, British Columbia – Further to its news release dated August 28, 2015, Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) announces it has closed the sale of its non-brokered private placement for 4,492,000 Units of the Company (the "Units") at a price of $0.40 per Unit, for gross proceeds of CDN $1,796,800 (the "Offering"). Each Unit consists of one common share and one-half common share purchase warrant (a “Warrant"). Each whole Warrant will entitle the holder to purchase one common share of the Company for a period of 24 months from the closing date of the Offering at a price of $0.60 per share.
In conjunction with the Offering, the Company will pay aggregate finder’s fees of $116,681 and 291,702 finder’s warrants. Each finder’s warrant will entitle the holder to acquire one common share of the Company at $0.40 for one year from the date of issue.
All securities 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. Final closing remains subject to TSX Venture Exchange approval.
Proceeds of the Offering will be used for the continued development and commercialization of the Company’s award winning CX-6 Smart Seeder technology, inventory buildup and general working capital.
About Clean Seed Capital Group
Clean Seed Capital Group Ltd 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 is an industry first!
The ground-breaking CX-6 SMART Seeder creates a new niche within the large-scale farm equipment market. The common shares of Clean Seed are listed on the TSX Venture Exchange and trade under the symbol "CSX".
For further information please contact Clean Seed at 604-566-9895 or The Howard Group at 1-888-221-0915 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.