12:03:45 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Clean Seed Capital Group Ltd
Symbol CSX
Shares Issued 95,056,869
Close 2023-11-15 C$ 0.06
Market Cap C$ 5,703,412
Recent Sedar Documents

Clean Seed Capital reviews activities in holder letter

2023-11-16 15:59 ET - Shareholders Letter

Mr. Graeme Lempriere reports

CLEAN SEED CAPITAL GROUP LTD. (TSXV:CSX) SHAREHOLDER UPDATE

Clean Seed Capital Group Ltd. has provided a shareholder letter from chairman and CEO Graeme Lempriere.

Dear Valued Shareholders,

Amidst the challenges in the venture capital markets, we maintain our steadfast commitment to advancing the commercialization of our IP portfolio. Our technology is actively contributing to winter wheat seeding in Northern India with our MINI - MAX in collaboration with our valued partners.

Recent positive developments in political relations between Canada and India are encouraging, following regrettable headlines and tension generated by the Canadian Prime Minister in September.

We hold firm in our belief that the private sector will not only endure but thrive, driven by the substantial potential inherent in the partnership between our two nations. As we navigate the dynamic landscape in India, particularly with our SMART Seeder technology and other business interests, we maintain our dedicated momentum with Mahindra & Mahindra and our stakeholders to deliver on our MOU. While there have been delays, we anticipate finalizing our definitive agreements within 2023.

Most recently, on November 3rd, we proudly announced that we have received an additional patent in Mexico for our flow control technology. This technology holds a pivotal role in the variable rate metering system utilized in the SMART Seeder, emphasizing our competitive edge in the market. We are pursuing sales and distribution partnerships in Mexico for our technology.

We anticipate that the manufacturing and assembly of SMART Seeder MINI-MAX(TM) units for Mexico and other regions will be conducted in collaboration with our partners in India. These units will then be shipped worldwide as whole goods, reflecting our commitment to global expansion and strategic partnerships.

Clean Seed continues to actively pursue M&A opportunities both domestically and internationally, targeting synergistic growth, enhanced working capital and access to strategic acquisitions. Recognizing that our IP portfolio is not adequately valued in the current public capital markets, we are shifting our focus towards a strategic alliance model, believing it to be more conducive to capturing the true value of our assets, while also assessing other capitalization alternatives for immediate funding.

We are proactively working to address the recent delay in our audited financial statements and settle matters with our previous auditor. This involves not only rectifying the immediate filing concerns but also selecting a proficient team to collaboratively drive our ongoing business activities, placing a particular emphasis on our M&A endeavors and ongoing financial growth requirements.

As previously announced, the Company has been granted a Management Cease Trade Order by the British Columbia Securities Commission. The Company is providing an update on the status of the filing of its annual financial statements, accompanying management's discussion and analysis, related CEO and CFO certifications and annual information form for the financial year ended June 30, 2023 (collectively, the "Annual Filings").

The Company is continuing to work diligently and expeditiously to complete and file the Annual Filings and settle matters with our previous auditor.

The Company intends to follow the provisions of the Alternative Information Guidelines set out in National Policy 12- 203 for so long as the Annual Filings are outstanding, including the issuance of bi-weekly default status reports in the form of news releases, all of which will be filed on SEDAR+. The Company confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.

We are thoroughly evaluating various strategies to maximize the value of our technology portfolio, recognizing its potential to positively impact the agricultural system for decades to come. Our dedicated team is diligently exploring all available options to secure the optimal outcome for our shareholders. Our commitment is unwavering in ensuring that the lasting benefits of our innovations are realized, and true value is shared with our stakeholders.

Regards, " Graeme Lempriere " Graeme Lempriere 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(TM) 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.

We seek Safe Harbor.

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