September 12, 2022 - Vancouver, British Columbia - Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX and OTCQB: CLGPF) is pleased to announce it has entered into a Letter of Intent (the “LOI”) with the Northern Farmers Producer Company Limited Mega Farmer Cooperative (“Northern Farmers Mega FPO” or “FPO”) to launch the SMART Seeder MINI-MAX™ in India. Upon successful completion of the activities within the LOI, FPO will market and distribute 1,000 SMART Seeder MINI-MAX™ machines from 2023-2025 in the Punjab and Haryana regions of India.
Mr. Puneet Singh Thind, Founder & Director, stated:
“After having participated in the SMART Seeder MINI-MAX™ Technology Demonstration at Chandigarh University, our board of directors is convinced that Clean Seed’s technology, with its multipurpose solutions such as managing straw and accurate seed and fertilizer placement in combination with the unique no-tillage practices, can bring a paradigm shift to the farmers in the region. With our strong presence in the region and close farmer network built on mutual trust, we are confident we can take orders and distribute 1,000 machines in the field over the next 3 seasons in Punjab and Haryana.”
Northern Farmers Mega FPO is a leading organization of 43 Farmer Cooperatives (FPOs) involving more than 12,000 farmer members from 4 States in North India. They work closely with respective State Governments, Industry Chambers, Agriculture Universities & Industry Partners, as well as Farmers Collectivisation, Agri-Input Supplies, Farm Solutions, Market Linkages, Industry Engagement Programs and other agribusiness initiatives.
Graeme Lempriere, stated:
“From the outset Clean Seed was determined to ensure our technology was scalable in size and function to influence and reach all markets around the world. Our experiences in India to date have been tremendous, a great MINI-MAX™ launching platform in great part due to the support of the Government of Canada and Mr. Blair Hudyma, of the Government of Saskatchewan in collaboration with the Consulate General of Canada in Chandigarh. We also would like to thank the governments of India, Punjab and Haryana along with CII for their strong support in India. we look forward to completing our fall demonstration and development programs which will positions us for production and distribution of the SMART Seeder MINI-MAX™ within India and beyond.”
Under the LOI, the parties will work together to 1) conduct field trials in the fall compared to local seeding equipment alternatives 2) obtain subsidy approvals from local governments for FPO members to purchase MINI-MAX™ units and 3) conduct value proposition and marketplace analyses. Upon successful completion of these activities, the parties anticipate entering into a definitive agreement whereby FPO will become a distributor of the SMART Seeder MINI-MAX™ in the Punjab and Haryana regions of India.
ON BEHALF OF THE BOARD
Chairman and CEO
For further information please contact Clean Seed at 604-566-9895 and visit our website at www.cleanseedcapital.com.
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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. All information and statements contained herein that are not clearly historical in nature constitute forward-looking information, and the words “anticipate”, “estimate”, “believe”, “continue”, “could”, “expects”, “intend”, “plans”, "postulates", "predict", “will”, “may” or similar expressions suggesting future conditions or events or the negative of these terms are generally intended to identify forward-looking information. 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. 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.