October 11, 2017 – Vancouver, British Columbia – Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) has received notice from the Eurasia Patent Office that it will grant Clean Seed its patent in the designated contracting states from which Clean Seed has the option of selecting. The decision to grant the patent covers Clean Seed’s individual point, high resolution and variable rate seeding innovations (the “High Resolution Patent”). The patent will protect Clean Seed’s value proposition on its SMART Seeder™ technology and CX-6 SMART Seeder™ in the designated contracting states. This announcement builds upon our release dated October 4, 2017 where we announced receiving notice of patent grant from the European Patent Office. The European and Eurasian Patent Offices manage different designated contracting states.
The Eurasian Patent Office manages the review process for 8 European and Asian countries including significant agriculture equipment marketplaces of Russia, Kazakhstan and Belarus. The Eurasian member countries account for 6% of global crop production, 9% of global crop acres dedicated to crop production and 5% of global planting and seeding equipment sales.
We further note that our patent application announced April 11, 2017 is for a set of new SMART Seeder innovations that are in addition to our High Resolution Patent. These new innovations are complementary to our High Resolution Patent but are separate and distinctly identifiable.
The Company also announces that during September 2017, 821,000 options were granted to its Directors and Officers and 210,000 options were granted to its employees. All options granted are exercisable into common shares at $0.40 for a term of five years.