Government Of Canada invests an additional $425,000 into Clean Seed (TSX-V: CSX) for combined investment contribution of $2,250,000.
November 28, 2016 – Vancouver, British Columbia – Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) – announces an additional investment of $425,000 from the Government of Canada in a strong show of support for our CX-6 SMART Seeder™ development and commercialization initiatives. This investment is in addition to the $1,825,000 contribution made on August 4th, 2016, bringing the Government of Canada available investment to date to $2,250,000.
******************** Government of Canada News Release ********************
From the Western Economic Diversification Canada release dated November 25, 2016. Western Innovation Initiative funding helps companies quickly move their ideas to market.
The Canadian agriculture sector gets a boost today though the Government of Canada’s investment of $425,000 to further develop and commercialize an innovative no-till seeding system, the CX-6 SMART Seeder. The funding was announced by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada.
Federal funding will enable Clean Seed Agricultural Technologies Ltd. to further develop the equipment using patented technology that will significantly enhance application control, reduce the over-application of fertilizer and pesticides, and lower fuel usage and input costs.
While the company is headquartered in Burnaby, British Columbia, testing will be conducted in Saskatchewan and the equipment will be manufactured in Manitoba. The federal contribution will be matched by Clean Seed Agricultural Technologies Ltd.
This investment is one of several successful projects to be announced under the Western Innovation (WINN) Initiative. The program provides $100 million in repayable contributions to small- and medium-sized companies in Western Canada. Eligible companies can apply for funding to support activities that move ideas to market more quickly.
"Clean Seed Agricultural Technologies Ltd. is an innovative leader in the development of advanced precision agricultural equipment aimed at modernizing and streamlining farm operations. The Government of Canada's investment in companies like this will generate growth in Western Canada and provide jobs for skilled workers."
- Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
"We would like to express our appreciation to the Government of Canada for supporting the advancement and distribution of the CX-6 SMART Seeder. The continued support by the federal government over the years has played an important role in our evolution. We proudly welcome the financial support to launch our Canadian designed and developed CX-6 Smart Seeder domestically and internationally."
- Graeme Lempriere, Chief Executive Officer, Clean Seed Capital Group Ltd.
*****************End of Government of Canada News Release ******************
About Clean Seed Capital Group The common shares of Clean Seed Capital Group Ltd. are listed on the TSX Venture Exchange and trade under the symbol "CSX". 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, which is an industry first!
The ground-breaking CX-6 SMART Seeder 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 “Graeme Lempriere” President, CEO