Clean Seed Capital Group Closes Over Subscribed Non-Brokered Private Placement And Welcomes Colin Rosengren to the Board of ...
06 November 2013 - 7:49AM
Access Wire
November 5, 2013 - Vancouver, British Columbia -
further to its news release dated October 31, 2013, Clean Seed
Capital Group ("Clean Seed" or the "Company") (TSX-V: CSX)
announces it has closed the second tranche of its non-brokered
private placement for 4,684,000 Units of the Company (the "Units")
at a price of $0.25 per Unit, for gross proceeds of CDN $1,171,000
(the "Offering") bringing the total amount raised to CDN
$1,401,250. Each Unit consists of one common share and one common
share purchase warrant (a "Warrant"). Each Warrant will entitle the
holder to purchase one common share of the Company for a period of
24 months from the closing date at a price of $0.35 per share in
the first 12 months and $0.45 in the 12 months thereafter.
The Offering was eligible to be purchased by
subscribers who are "accredited investors" or who qualify under
another exemption from prospectus requirements in the jurisdictions
where the Offering was sold. The securities issued pursuant to the
second tranche closing of the Offering are subject to a regulatory
hold period expiring March 6, 2014 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 laws.
Proceeds of the Offering will be used for the continued
development and commercialization of the award winning CX6
technology, inventory buildup and general working capital. No
Finders' fees were paid in respect to the second tranche of this
Offering.
"On behalf of our entire team, I would like to thank
both our shareholders and the farming communities of Western Canada
and the Prairies for their ongoing support and financial
sponsorship. I am pleased to welcome Colin Rosengren to the Board
of Directors of Clean Seed Capital. Colin has played a meaningful
role since joining the company, his wealth of knowledge and hands
on expertise has been instrumental in solidifying our group as
progressive pioneers of proprietary technologies. As we move into
this exciting new phase, we remain committed to the core principle
that got us here - innovation. That innovative spirit will be the
key to our success in the years ahead as we begin to commercialize
our technologies and expand the pipeline of growth
opportunities".
Colin Rosengren stated "I have been very impressed with
the Company's progress since I joined the group last year as VP,
Agronomic Practices and Protocols. This progressive company is on
track towards commercialization of its product line and I have
every confidence that we will deliver revolutionary new seeding
technology to the market in 2014."
About Clean
Seed Capital Group
Clean Seed has developed an advanced
no-till precision planting system comprised of individually
patented technologies. These technologies include all-cast opener
assembly systems, in-ground openers, proprietary seed and
fertilizer metering and electronic control systems that combat soil
erosion, reduce seed and fertilizer use and nurture the subsurface
biodiversity vital to producing healthy and sustainable
crops.
For further information please contact
Mark Tommasi at 604-566-9895 and visit our website at
www.cleanseedcapital.com.
ON BEHALF OF THE
BOARD,
"Graeme Lempriere"
CEO, President and
Director
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.
Not for distribution
in the United States. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy securities of
the Company in any jurisdiction. None of the Company's securities
are registered under the United States Securities Act of 1933, as
amended (the "1933 Act"), or the securities laws of any states of
the United States, and may not be offered or sold in the United
States absent registration or an applicable exemption therefrom
under the 1933 Act and the securities laws of all applicable
states.
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