Clean Seed is at the forefront of an agricultural shift to unparalleled high definition seeding technologies. Clean Seed has developed an advanced precision no-till seeding system comprising several individually patented technologies, including in-ground openers, proprietary seed and fertilizer metering, and electronic control systems. Our most recent ground breaking achievement is also our most advanced and innovative to date: the award winning CX-6 SMART Seeder(TM), which is an industry first!
The ground-breaking CX-6 SMART Seeder(TM) creates a new niche within the large-scale farm equipment market.
The document image seen below is showing 13 investors who have purchased a total of 3.4 million common shares at a price of $0.30, for a total investment amount of $1,032,500.70.
Also check out this article: How Clean Seed’s Wireless Smart Seeder is Set to Disrupt Agriculture. Posted on MARCH 13, 2017 by LOUISA BURWOOD-TAYLOR
Fundamental Research Corp maintains their BUY rating and fair value estimate of $1.90 per share.
View their full research report here: http://www.cleanseedcapital.com/files/analystcoverage/reports/fundamental-research-corp-research-report-clean-seed-capital-group-csx-march-2017.pdf
Clean Seed Capital
New Report Maintains
Investment from New U.S. Distributor / Targeting Australia
Fundamental Research Corp – Report Highlights:
We maintain our BUY rating and fair value estimate of $1.90 per share.
Clean Seed Capital Group Ltd. (“company”, “CSX”) announced last month that it entered into a distribution agreement with a Montana, U.S. based distributor of agricultural equipment to demonstrate and market the company’s CX-6 SMART Seeder.
CSX and the U.S. distributor intend to finalize their distribution plans and set-up a demonstration program in the fall.
In our initiating report in November 2016, we had mentioned that a distribution arrangement in the U.S. would be one of the key catalysts for CSX’s shares in 2017. Shares are up 26% since we initiated coverage.
Made significant additions to its management team and advisory board since the beginning of the year, providing a strong signal to the market that management is gearing up for a strong 2017.
Announced the closing of a $1.03 million financing by issuing 3.44 million shares at $0.30 per share. The new distributor and advisory board members were key subscribers.
We believe Clean Seed’s technology will be highly attractive for M&A opportunities once sales ramp up and the market gets to see users’ feedback on the CX-6 Smart Seeder.
*see back of report for rating and risk definitions
About Clean Seed:
We have developed an advanced precision no-till seeding system comprising several individually patented technologies, including in-ground openers, proprietary seed and fertilizer metering, and electronic control systems.
Our most advanced and innovative technology is the CX-6 SMART Seeder™, a true industry first. The CX-6 SMART Seeder™ is the next generation of seeding technology that creates a new niche within the large-scale farm markets, and as the creators of this technology, we are uniquely positioned to dominate this new market niche.
Recent news from the company:
February 23, 2017 – 9:00 AM EST
Clean Seed Capital Group (TSXV: CSX) Enters the United States Market Through New Strategic Alliance and Closure of Associated Investment
February 23, 2017 / TheNewswire / Vancouver, British Columbia – Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) has entered into a distribution partnership agreement with Torgerson’s LLC (“Togerson’s”) to bring its CX-6 SMART Seeder(TM) technology to the United States through 1) an exclusive dealership arrangement for Montana and North West Dakota 2) the creation of a CX-6 SMART Seeder(TM) demonstration centre and 3) providing a base for further expansion into other key US markets.
Torgerson’s is a respected family owned and operated business first established in Ethridge, Montana in 1912. Torgerson’s has grown into a 4th generation farm implement dealer with 8 locations throughout the farming belt of Montana. Montana annually plants 20 million acres of crop for commercial production across 28,000 farms. It ranks 1st in the US in dry peas and lentil production, 2nd in the production of barley, and third in wheat production. The annual value of the major crops grown in Montana is $2.2 billion US.
The Company is working with Torgerson’s to finalize its distribution plans and to set-up a demonstration program planned for the fall of 2017 and beyond. As part of the dealership agreement, Torgerson’s will be purchasing CX-6 SMART Seeder(TM) units to be used for its customer demonstration programs. Torgerson’s operates a 12,000 acre family farm which will host the Clean Seed demonstrations.
In parallel with entering into the agreement with Torgerson’s, the Company has closed a non-brokered private placement for 3,441,669 common shares (“Shares”) of the Company at a price of $0.30 per Share, for gross proceeds of CDN $1,032,500.70 (the “Offering”) to facilitate its expansion plans into the United States and ongoing operations in Canada. Both Torgerson’s and the Company’s recent appointments are strategic participants in the associated investment. There were no finders’ fees associated with the private placement. All Shares to be issued pursuant to the Offering 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 laws.
Graeme Lempriere, CEO of Clean Seed, stated “I would like to welcome the Torgerson family to our growing roster of collaborative partners and investors. This 4th generation family-owned, Case IH farm equipment dealer is a strategic entry point into the United States for our organization. The Torgerson’s family values and ethical footing have cemented them as a respected leading dealer network in the region. Their commitment to our program for the CX-6 SMART Seeder(TM), in both financial and operational aspects, is greatly valued and synergistically dovetails with our Canadian distribution partner, Rocky Mountain Equipment.
As the world’s attention becomes ever more focused on feeding a growing population, enormous amounts of investment are flowing into agriculture, propelling a technological evolution. Clean Seed takes enormous pride in playing a historic catalytic role.
We predicted that one of the powerful keys necessary to unlock significant progress in precision agriculture would be absolute, precision driven seeding technologies that plant inputs accurately to the square foot. We accomplished just that by designing, patenting and developing the award winning CX-6 SMART Seeder(TM), the world’s most advanced seeding technology. The evolution of this technology has been made possible by attracting industry experts and collaborative partners. We look forward to working with our latest partner, Torgerson’s, to advance our technology awareness initiatives and to launch our equipment in the USA!”
Brion Torgerson, CEO of Torgerson’s, stated “We are excited to partner with Clean Seed! Clean Seed’s technologies are the future of farming and is a great partner for our company in driving innovation in crop production. Since 1912 we have been committed to bringing the best technologies to our customers and incorporating those technologies into their practice. With the addition of the CX-6 SMART Seeder, the future of farming will be at Torgerson’s!”
ON BEHALF OF THE BOARD
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” as defined under applicable Canadian securities legislation. Forward-looking statements herein include, but are not limited to, statements with respect to the future manufacture and sale of equipment. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, there is no assurance the manufacturing and sales targets outlined herein will be met; and readers should not place undue reliance on forward-looking statements. Clean Seed disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Copyright (c) 2017 TheNewswire – All rights reserved.
Source: TheNewsWire (February 23, 2017 – 9:00 AM EST)
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