November 30, 2023
Dear Valued Shareholders,
On November 21st, 2023, we announced that we successfully advanced our PCT patent application for our innovative Residue Management system. This system is seamlessly integrated into our ground-engaging seed and fertilizer delivery system, specifically within our ground engaging row unit. We have entered the national phase with initial applications submitted to the patent offices in Canada and the United States of America. The Company will be submitting application to additional countries for this innovation which will be announced once completed.
We are proactively working to address the delay in our audited financial statements and settle matters with our previous auditor, to that end we have submitted a settlement offer to our former auditor and look for acceptance in the near future. The Company is concurrently seeking financing to support the settlement proposal.
As previously announced, the Company has been granted a Management Cease Trade Order by the British Columbia Securities Commission. The Company is providing an update on the status of the filing of its annual financial statements, accompanying management's discussion and analysis, related CEO and CFO certifications and annual information form for the financial year ended June 30, 2023 (collectively, the "Annual Filings").
The Company is continuing to work diligently and expeditiously to complete and file the Annual Filings and settle matters with our previous auditor.
The Company intends to follow the provisions of the Alternative Information Guidelines set out in National Policy 12- 203 for so long as the Annual Filings are outstanding, including the issuance of bi-weekly default status reports in the form of news releases, all of which will be filed on SEDAR+. The Company confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.
Regards,
“Graeme Lempriere”
Graeme Lempriere
Chairman and CEO
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”.
We are a team of innovators and business management professionals with a proven track record of game changing innovation and production of patented agricultural technologies at an incredibly high level. We pride ourselves as progress facilitators that turn solutions for modern agricultural problem into commercially viable products to fulfill new demand.
Clean Seed’s SMART Seeder MAX™ technologies are revolutionary seeding tools that utilize the unique synergy of sophisticated electronic metering and intuitive software control putting row-by-row variable rate technology at the forefront of agricultural innovation. Our innovations create a new class of highly accurate seeding equipment designed specifically for today’s farmer.
For further information please contact us at info@cleanseedcapital.com and visit our website at www.cleanseedcapital.com.
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 release.
Forward-Looking Statements Regarding the Annual Filings
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation pertaining to the timing, review, completion and filing of the Annual Filings, and duration of the Management Cease Trade Order; and other forward-looking information concerning the intentions, plans and future actions of the parties described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company may not be able to raise the funds necessary to complete the audit of its annual financial statements; it may not complete its audit and file the Annual Filings as currently anticipated, or at all; and the Company may be subject to a general cease trade order in the event that the Annual Filings are not completed and filed in the time anticipated.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to complete and file the Annual Filings. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.