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Vancouver, British Columbia -TheNewswire -November 2, 2023 -Clean Seed Capital Group Ltd.(TSX-V:CSX)(the “Company” or “Clean Seed”) announces that as a result of delays in the completion of its audit, the Company was unable to file its financial statements and accompanying management’s discussion and analysis, and CEO / CFO certifications, for the fiscal year ended June 30, 2023 (collectively, the “Annual Filings”) by October 28, 2023, being the date that such filings were due under applicable Canadian securities legislation.  The late filing is duein part, to the resignation of the Company’s former auditors (see Notice filed on SEDAR+ on May 8, 2023).

 

In response to the reporting delay, the Company applied to and received from the British Columbia Securities Commission a management cease trade order (the “MCTO”) which restricts certain management from trading in securities of the Company until the Annual Filings are filed.  The Company currently expects to file the Annual Filings on or before December 29, 2023, and will issue a press release announcing completion of these filings when such occurs.  Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 –Management Cease Trade Order.  The guidelines, among other things, require the Company to issue biweekly default status reports by way of a news release for as long as the Annual Filings have not been filed.  During the MCTO, the general investing public will continue to be able to trade in the Company’s shares.

 

The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on May 30, 2023, of the Company’s latest interim financial reports for the period ended March 31, 2023.

 

ON BEHALF OF THE BOARD

“Graeme Lempriere”

Chairman and CEO

 

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 turn solutions for modern agricultural problem into commercially viable products to fulfill new demand.

Clean Seed’s SMART Seeder MAX™ 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.  Our innovations create a new class of highly accurate seeding equipment designed specifically for today’s farmer.

For further information please contact us at info@cleanseedcapital.com and visit our website atwww.cleanseedcapital.com.

 

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 release.

 

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation pertaining to the timing, review, completion and filing of the Annual Filings, and duration of the MCTO; and other forward-looking information concerning the intentions, plans and future actions of the parties described herein and the terms thereon.

 

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company may not be able to raise the funds necessary to complete the audit of its annual financial statements; it may not complete its audit and file the Annual Filings as currently anticipated, or at all; and the Company may be subject to a general cease trade order in the event that the Annual Filings are not completed and filed in the time anticipated.

 

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to complete and file the Annual Filings. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

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