November 19, 2015 - Vancouver, British Columbia - The Company is pleased to announce that it has received total proceeds of $1,776,649 from the exercise of 4,257,776 share purchase warrants which were issued as part of its November 2013 private placement. The majority of these warrants were exercised during the 45 day period prior to the November 5, 2015 expiry date.
The Company has also agreed to issue an aggregate of 555,080 common shares (the "Shares") at a deemed price of $0.51 per share to settle certain outstanding debt in the amount of $283,091.25. The Shares issued by the Company pursuant to the shares for debt transaction will be subject to a four month hold period.
The Company wishes to thank its shareholders for their continued support; and is looking forward to bringing the CX-6 SMART Seeder to the marketplace in 2016.
About Clean Seed Capital Group
The common shares of Clean Seed 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 or The Howard Group at 1- 888-221-0915 and visit our website at http://www.cleanseedcapital.com.
ON BEHALF OF THE BOARD
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.
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.