July 18, 2022 - Vancouver, British Columbia - Clean Seed Capital Group Ltd (“Clean Seed” or the “Company”) (TSX-V: CSX and OTCQB: CLGPF) is pleased to announce that it has entered into a loan agreement with Farm Credit Canada (“FCC”) to provide financing for the 2023 production run of the SMART Seeder MAX.
“FCC has been a pillar of support for Clean Seed over the years,” said Graeme Lempriere, Chief Executive Officer of Clean Seed. “We appreciate the work of the Winnipeg FCC team in supporting our 2023 program and beyond.”
FCC is Canada’s leading agriculture and food lender, with a healthy loan portfolio of more than $44 billion. The self-sustaining Crown corporation is recognized as one of country’s top employers with more than 2,000 employees in offices across Canada.
Under the loan agreement, Clean Seed may borrow $1,000,000 to fund production of the SMART Seeder MAX. Amounts borrowed bear interest of 8.45%, will be repayable from the proceeds of the sales of the 2023 SMART Seeder units and if not otherwise repaid prior, will be due September 1, 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” and are traded on the OTCQB Venture Market under the symbol “CLGPF”.
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™ 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 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.