The Company has made an application for TSX Venture Exchange approval to extend the term of its outstanding warrants by six months.
Clean Seed currently has 1,735,000 warrants outstanding, exercisable at $0.75, all of which are set to expire on January 4, 2019. The proposed extension is subject to acceptance by the TSX Venture Exchange. No other amendment to the warrants is being sought and if the amendment is accepted, all other terms and conditions of the warrants will remain unchanged.
Market Maker Engaged
The Company has engaged the services of Lakeshore Securities Ltd. ("Lakeshore") to provide services as a market maker, in accordance with TSX Venture Exchange Policy 3.4. Lakeshore has been engaged for an initial term of three months, at a fee of $3,000 per month. After the initial three month term, and if both parties are in agreement, the contract will roll over on a month-to-month basis with 30 days written notice required to terminate the contract. No stock options are being granted in connection with the engagement.
Lakeshore is a Canadian securities dealer located in Toronto, Ontario that provides advisory and brokerage services to institutional, retail and high net worth individual investors while also providing fee based market maker services to TSX Venture Exchange listed companies. Lakeshore is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
Lakeshore is arm's length to the Company. Lakeshore's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. Lakeshore will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
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 quickly turn viable concepts and ideas into commercially viable products that can fulfill demand.
The CX-6 SMART Seeder(TM) is a revolutionary seeding tool that utilizes the unique synergy of sophisticated electronic metering and intuitive software control putting row-by-row six-meter 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.
ON BEHALF OF THE BOARD
Chairman and CEO
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.
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