August 11, 2021 - Vancouver, British Columbia - Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) reports the following update:
- SMART Seeder MAX™ Model Year 2022 Approaching Fully Committed
Clean Seed is happy to announce retail sale order commitments for most of the Model Year 2022 production run and is expecting to finalize these concurrent with signing up dealers. These orders are primarily for our flagship SMART Seeder MAX-S™ (with singulation) and our SMART Seeder MAX-5™ (5 product volumetric). All orders are for dealers and customers in Western Canada.
- Distribution Update
In April 2021 Clean Seed launched a campaign to become a SMART Seeder MAX™ dealer or Agronomy Partner in key geographic areas in Western Canada, USA, and in key future export markets. Clean Seed plans to formally announce dealers and agronomy partners later this summer in conjunction with Fall 2021 demonstration plans.
- Upcoming Trade Shows
As previously announced, Clean Seed will be attending upcoming farm shows in Canada and the United States to showcase the SMART Seeder MAX™ technology and products as follows:
- Ag SMART – Olds College, Olds Alberta – August 10-11, 2021
- Farm Progress Show – Decatur, Illinois – August 31 – September 2, 2021
- Big Iron Farm Show – Fargo, North Dakota – September 14-16, 2021
- Fall and Winter Crop Demonstrations
The SMART Seeder MAX™ demonstration units are targeting several thousand demonstration acres for fall and winter crop seeding. These customer and technology focused demonstrations will take place in August and September 2021. Please contact Butch Sinclair at firstname.lastname@example.org if you have interest in seeing a SMART Seeder MAX™ in your area.
- Saskatoon Assembly Facility and Supply Chain Update
The Saskatoon Assembly facility has started to break ground with the steel for the buildings on site to be erected shortly. Clean Seed expects to have access to the completed facility by November 1st to begin the assembly of the Model Year 2022 SMART Seeder MAX™ order commitments. In the meantime, Clean Seed has entered into a temporary lease for a small facility in Saskatoon for production parts storage, employee training, and operations. As with all manufacturers there has been significant concern with shortages and delays in supply chain parts. We have not identified any critical production component shortages for our model year 2022 production at this time.
- Expected Model Year 2022 Machine Deliveries
Clean Seed expects to begin model year 2022 machine deliveries of the SMART Seeder MAX from our Saskatoon facility at the end of the calendar year. On-site training for setup, pre-delivery, customer operation, and dealer support will be scheduled in January-February 2022.
- Warrant Exercise
The Company has received proceeds of $1,370,000 from the exercise of 2,740,000 share purchase warrants.
- Stock Option Grant
The Company has granted an employee 300,000 stock options at a price of $0.50 per share until February 28, 2025 and has granted two consultants and aggregate of 252,000 stock options at a price of $0.55 per share until December 31, 2023.
ON BEHALF OF THE BOARD
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 Clean Seed at 604-566-9895 and visit our website at http://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 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. 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.