June 22, 2018 - Vancouver, British Columbia - Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) announces it has closed a non-brokered private placement for 3,210,000 common shares of the Company (the "Shares") at a price of $0.50 per Share, for gross proceeds of CDN $1,605,000 (the "Offering").
In conjunction with the Offering, the Company will pay aggregate finder’s fees of $71,700 and 143,400 finder’s warrants. Each finder’s warrant will entitle the holder to acquire one common share of the Company at $0.50 for twelve months from the closing date of the Offering.
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.
The Company intends to use the proceeds of the Offering for the production of the CX-6 SMART Seeder, project development, business development and general working capital.
About Clean Seed Capital Group Ltd.
Clean Seed is driving technology development in modern agriculture by rapidly designing, patenting and producing highly advanced seeding and planting technologies. We are the creators of the world’s first and only award winning SMART Seeder™technology, which is secured by our portfolio of intellectual property. Our CX-6 SMART Seeder™ has set the seeding equipment benchmark by enabling true execution of high resolution seeding prescriptions at each square foot of the field to suit soil conditions and fulfill agronomist recommendations, an industry first!
The common shares of Clean Seed Capital Group Ltd. are listed on the TSX Venture Exchange and trade under the symbol "CSX". 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 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. These assumptions include, but are not limited to, management’s assumptions about receiving TSX Venture Exchange approval of the Offering.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. 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.