February 10, 2021 - Vancouver, British Columbia - Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) is pleased to announce the appointment of Steve Sommerfeld to its board of directors.
Mr. Steve Sommerfeld, CPA, CA, was the original Chief Financial Officer of Ag Growth International Inc. (“AGI”) (TSX: AFN) starting in 1997 and serving until his retirement in 2020. AGI is an agricultural equipment manufacturer that started in Western Canada and now has operations in Canada, the U.S., U.K., Brazil, Italy, France and India. As CFO and Executive Vice President, Mr. Sommerfeld worked with the Senior Executive Team to lead the company through organic growth and a series of 25 acquisitions that resulted in the company internationalizing its business and increasing revenues from $2 million in 1997 to $1 billion in 2020. Mr. Sommerfeld oversaw all aspects of the finance and accounting function at AGI and participated in investor relations and capital market activities. Mr. Sommerfeld holds a Bachelor of Commerce from the University of Saskatchewan and is a Chartered Professional Accountant.
Graeme Lempriere, Chairman, CEO States “It is my distinct privilege to welcome Mr. Steve Sommerfeld to our board of directors. As we navigate rapid growth, Steve’s remarkable career will play an important role in supporting our business development strategies. Our President, Gary Anderson, and Steve were part of the founding dream team of AGI, one of Canada’s great AG sector success stories. To have both these veterans of industry onboard with Clean Seed Capital is an extraordinary achievement.”
Mr. Sommerfeld states “I am honoured to have been asked to join the board of Clean Seed Capital Group. I have been following Clean Seed for several years and believe the Company is approaching an inflection point in its development that will soon lead to product commercialization and exciting growth opportunities. The team at Clean Seed, led by Graeme Lempriere, is terrific and reminds me of the early days at AGI. I look forward with excitement to being part of their next chapter.”
Mr. Randy Minhas is kindly stepping down from the Board of Directors of the Company to facilitate the appointment of Mr. Sommerfeld’s and to accommodate the expected increased time commitment for his role as Chief Financial Officer of Blackrock Gold Corp. We would like to thank Randy for his steadfast support and wish him much success with his new venture.”
The Company has granted Mr. Sommerfeld incentive stock options to acquire 200,000 shares of common stock at a price of $0.50 per share until December 31, 2023.
Further to the Company’s news release of January 29, 2021, the Company has received TSX Venture Exchange approval to extend the expiry date of 5,915,000 of the 7,895,000 warrants sought for extension to July 31, 2021. These warrants are exercisable at $0.50 per share. The Company has also submitted an application to extend the expiry date to July 31, 2021 of the other 1,980,000 warrants which were originally issued as a bonus, exercisable at $0.50 per share, to match the extended maturity date of a related promissory note.
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™ 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.