Mr. Graeme Lempriere reports
Clean Seed Capital Group Ltd. will issue a secured convertible debenture in the principal amount of $330,000 to replace a secured convertible debenture, which matured in August, 2025, in the same principal amount.
The debenture shall bear interest of 11 per cent, is convertible into common shares of the company at a price of 20 cents per share, shall mature on Dec. 31, 2026, and is secured by a general charge against all of the assets of the company and its subsidiaries. Unpaid interest and accrued interest shall be due at maturity at which time it will be repayable, along with the principal outstanding. The debenture is convertible by the holder at any time.
In connection with the debenture, the company is issuing 500,000 detachable share purchase warrants whereby each share purchase warrant is exercisable into one common share of the company at a price of 12 cents per share for a term of one year.
There is accrued interest of $96,525 in relation to the original debenture as of Nov. 30, 2025, which represents the interest accrued from the time the original debenture was issued.
The company shall issue 500,000 shares at a price of 10 cents per share to extinguish $50,000 of accrued
interest. The balance of accrued interest shall be due at maturity.
All securities to be issued in connection with the debenture, shares for interest and warrants will be subject to a regulatory hold period of four months and a day in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws, and such other further restrictions as may apply under foreign securities. Closing of the debenture, shares for interest and warrants is subject to receipt of TSX Venture Exchange approval.
The original debenture was issued in August, 2022, as announced in the news release dated Aug. 24, 2022.
About Clean Seed Capital Group Ltd.
The common shares of Clean Seed are listed on the NEX branch of the TSX Venture Exchange and trade under the symbol CSX.H.
The company consists of a team of innovators and business management professionals with a proven record of game-changing innovation and production of patented agricultural technologies at an incredibly high level. It prides itself as a progress facilitator that turns 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. Its innovations create a new class of highly accurate seeding equipment designed specifically for today's farmer.
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