Clean Seed Capital Group (TSX-V:CSX) Ltd said it is looking ahead to a busy spring 2022 as it positions itself to capitalize on demand for sustainable agriculture.
The Canadian agriculture technology company’s SMART Seeder technologies are seeding tools that utilize the synergy of sophisticated electronic metering and intuitive software control, putting row-by-row variable rate technology at the forefront of agricultural innovation.
“With the ongoing challenges in agriculture, from overseas disruptions, skyrocketing input costs, climate pressures and the need to feed an ever-growing population, Clean Seed is well positioned to capitalize on the global pressures and demands for a sustainable future in agricultural production,” Vancouver-based Clean Seed said in a statement.
READ: Clean Seed expands SMART Seeder MAX dealer network with Canada West Harvest Centre taking on Saskatchewan distribution
“Our patented technology is the new benchmark in seeding and planting; we limit crop input costs, increase crop yields and reduce the environmental impact, mitigating the ever-growing pressures in food production.”
In a release, the company outlined some of its recent milestones, which include the appointment of two new dealerships in Alberta and Saskatchewan that will distribute SMART Seeder Max.
Clean Seed will also be present at the Ag in Motion trade show, which the company called the largest outdoor live demo trade show of its kind in Canada, with over 30,000 attendees.
South of the border, Clean Seed will launch SMART Seeder Max in the US at the Farm Progress show in Boone, Iowa.
“We anticipate we will receive purchase orders from the SMART Seeder dealer demonstration program and tradeshow activities for our 2023 SMART Seeder MAX production run,” the company said.
In keeping with the global theme, Clean Seed said it had completed production of its Mini-MAX demonstration unit and shipped it to India, where it will start demonstration activities with one of the country’s top agricultural equipment manufacturers in June.
Private placement
In separate news, the firm announced plans to raise over C$1.5 million to support its spring program.
The company will issue 6,035,000 units of the company at a price of $0.25 per unit, for gross proceeds of $1,508,750.
Each unit consists of one common share and one-half of one common share purchase warrant that will entitle the holder to purchase one common share of the company for a period of 12 months from the closing date of the offering at $0.35 per share.
In conjunction with the offering, the company will pay aggregate finder's fees of $10,425.
Clean Seed has also filed a preliminary shelf prospectus with the BC Securities Commission to provide for flexibility in its long-term capitalization plans, and said it anticipates receiving final receipt in June 2022.
Contact Angela at angela@proactiveinvestors.com
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