April 18th, 2023 - Vancouver, British Columbia - Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) is pleased to announce the results of our input reduction and yield results from this seasons’ harvest at our proving grounds in India in collaboration with our partners, Northern Mega Farmers FPO and University of Chandigarh.
The results from utilizing the SMART Seeder MINI-MAX™ in a side-by-side comparison to the most current and most utilized seeding equipment available in India shows an overall increase to farm cash flows of 36% using SMART Seeder MINI-MAX™ comprised of a:
- 19% reduction in cost per acre;
- 26% increase in per acre crop yield;
- 67% reduction of chemical fertilizer use, and
- 67% reduction of diesel consumption.
The results and related harvest are receiving significant attention from the farming community, our partners and regional news. We believe this positive outcome will accelerate interest in India to adopt MINI-MAX™ technology throughout its regions, which can then positively impact adoption in additional countries thereafter.
Graeme Lempriere, Chairman & CEO States: “Our mandate with MINI-MAX™ in India was to demonstrate the scalability of our technology portfolio, from our North American SMART Seeder MAX™ Series 60, into a compact design for additional international markets. We are proud to have confirmed with our partners in India that MINI-MAX™ produced benefits consistent with those of the SMART Seeder MAX™ here in North America as we move closer to a definitive agreement to mass produce the MINI-MAX™ for the Indian market and other international opportunities."
We refer to the related news release dated February 13, 2023, with respect to the Memorandum of Understanding between the Company and Mahindra and Mahindra Limited.
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 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. In particular, there is no assurance that Clean Seed will be successful in negotiating a definitive agreement with Mahindra, the results of future seeding and planting with the MINI-MAX will provide the same level of benefit compared to existing products, or that any of Clean Seed’s machines will be manufactured or sold in India and other countries. 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.