November 22, 2017 – Vancouver, British Columbia – Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) is providing an update to its news release of April 11, 2017.
Clean Seed submitted a worldwide Flow Control patent application under the Patent Cooperation Treaty (PCT) on April 11, 2017. This application contained several new proprietary technologies developed by our research and development team as part of our efforts to continue the rapid expansion and advancement of our technology and product portfolio. Upon grant, the Flow Control patents will further broaden the protection of the Company’s diverse technologies, while also extending the life of the patent protection for its existing SMART Seeder™ and SMART Planter™ technologies by three years.
The Company is pleased to provide confirmation from the World Intellectual Property Organization that its core claims under the Flow Control Application have been accepted as novel, innovative and as having no claims of conflicting prior art. The Flow Control clearance provides the Company with a strong indication that it will obtain patent protection for the Flow Control claims in the PCT member countries.
Our patent process is to obtain initial clearance through the PCT application and subsequently formalize the patent directly with the PCT member countries through grant procedures. This process provides global protection over our innovations while we secure the marketplace by developing our technologies into market ready products.
As pioneers within the agricultural industry we are a team with a winning track record of Intellectual Property Protection of over 20 years. We have made history within the intellectual property development sector, securing our innovations worldwide and providing a commitment to monitoring and maintaining our patent portfolio.
The Company will now enter into the national phase of the Flow Control patent application process. The PCT has 152 member countries which includes substantially all major seeding and planting equipment marketplaces globally. Our strong commitment to protect and secure market share upon release is the very foundation of preserving future value.
Graeme Lempriere, Chief Executive Officer of Clean Seed, states “The Flow Control claims will provide further patent protection over the Company’s air distribution innovations, supporting and building upon our SMART Seeder Technology’s value proposition secured by our existing patents. This unique flow control system dovetails directly into our current efforts to expand our intellectual property and product portfolios by positioning the Company to directly compete in the planter market in the USA and around the world.
Clean Seed has the unique ability to develop technologies from concept to completion and it is this ability that sets us apart from other capital groups. Our team consists of highly skilled inventors, technicians, testers and project managers with the experience of a sophisticated team. They are competitive experts who are driven to raise the bar on innovation in technology for the agriculture and complimentary sectors.”
The Company also announces it has entered into an Investor Relations Agreement with Conduit Investor Relations Ltd., whereby it will pay Conduit $5,000 per month. Clean Seed may terminate the agreement at any time with 30 days’ notice. Clean Seed has granted Conduit’s director the option to purchase 175,000 shares at $0.50 per share, vesting 25% each quarter in accordance with the policies of the TSX Venture Exchange. The Investor Relations Agreement and the grant of options will be subject to TSX Venture Exchange approval.
The Company has also granted 1,256,100 options to its employees and consultants. All options granted are exercisable into common shares at prices between $0.45 and $0.50, all for a term of five years.
ON BEHALF OF THE BOARD