Clean Seed Capital Group Ltd Signs Memorandum Of Understanding To Acquire Controlling Interest In 3K&A Industries Limited

Clean Seed Capital Group Ltd announced that it's recent trip to Ghana has resulted in the signing of a Memorandum of Understanding (MOU) with 3K&A Industries Limited (3K&A), a private agro-processing company based in Ghana, Africa. Both the Company and 3K&A wish to collaborate together to achieve their mutual objectives in establishing an integrated sustainable agriculture program in Ghana, incorporating commercial No-Till farming, agro-processing (vegetable oil, seed cake, poultry feed and other ancillary products) and the deployment of the Company's proprietary No-Till farming equipment. The Company is currently preparing a formal agreement that will specifically outline the details of the MOU and anticipates fulfilling the final document in the near future. Under the terms of the MOU, the Company intends to acquire a 60% controlling interest in 3K&A through a combination of equity and debt financing, in the amount of USD1,500,000. 3K&A would then be branded as Clean Seed Africa Ghana Ltd (CSAG). The funds, in part, will be used to upgrade and expand the existing infrastructure of 3K&A and begin the implementation of commercial No-Till agriculture and land restoration initiatives in Ghana. The proposed transaction with 3K&A is subject to finalizing a formal agreement, Exchange approval, and the Company raising the necessary financing.