VANCOUVER, British Columbia — Clean Seed Capital Group Ltd. (TSX-V: CSX) has entered into a distribution partnership agreement with Torgerson’s LLC to bring its CX-6 SMART Seedey technology to the U.S. through:
- An exclusive dealership arrangement for Montana and North West Dakota
- Creation of a CX-6 SMART Seeder demonstration center
- Providing a base for further expansion into other key U.S. markets.
Torgerson’s is a respected family owned and operated business first established in Ethridge, Mont., in 1912. Torgerson’s has grown into a fourth 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, second in the production of barley, and third in wheat production. The annual value of the major crops grown in Montana is $2.2 billion U.S.
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 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 of the company at a price of $0.30 per share, for gross proceeds of CDN $1,032,500.70 to facilitate its expansion plans into the U.S. and ongoing operations in Canada. Both Torgerson’s and the company’s recent appointments are strategic participants in the associated investment.
Graeme Lempriere, CEO of Clean Seed, said, “I would like to welcome the Torgerson family to our growing roster of collaborative partners and investors. This fourth 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, 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.
Brion Torgerson, CEO of Torgerson’s, said, “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.”
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”. 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.