August 28, 2015 – Vancouver, British Columbia – Clean Seed Capital Group (“Clean Seed” or the “Company”) (TSX-V: CSX) announces its intention to complete a non-brokered private placement of up to 3,750,000 units of the Company (the "Units") at a price of $0.40 per Unit, for gross proceeds of up to CDN $1,500,000 (the "Offering"). Each Unit will consist of one common share of the Company and one half of one common share purchase warrant (the "Warrant"). Each full Warrant will entitle the holder, on exercise, to purchase one common share for a period of 24 months following the closing date of the Offering at the exercise price of $0.60 per share.
The Offering is eligible to be purchased by subscribers who are "accredited investors" or who qualify under another exemption from prospectus requirements in the jurisdictions where the Offering is sold. Any securities to be issued pursuant to the Offering will be subject to a hold period of four months from the closing date 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.
Proceeds of the Offering will be used for the continued development and commercialization of the CX-6 Smart Seeder technology, inventory buildup and as general working capital. Finders’ fees in accordance with TSX Venture Exchange policies may be payable in respect of this Offering.
The Offering is subject to the approval of the TSX Venture Exchange and is expected to close on or before September 02, 2015.
About Clean Seed Capital Group Ltd.
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 is an industry first!
The ground-breaking CX-6 SMART Seeder creates a new niche within the large-scale farm markets. The common shares of Clean Seed are listed on the Toronto Venture Stock Exchange and trade under the symbol "CSX".
For further information please contact Clean Seed Capital 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
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 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.