RCS - Seed Innovations Ltd - Investee Company Update: Little Green Pharma Ltd

Seed InnovationsAnnouncement

04/10/2022 12:00

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RNS Number : 7321B  Seed Innovations Limited  04 October 2022

Seed Innovations Ltd / AIM: SEED / Sector: Closed End Investments

 

4 October 2022

 

SEED Innovations Limited

("SEED" or the "Company")

Investee Company Update: Little Green Pharma Ltd

SEED Innovations Ltd, the AIM-quoted company investing in fast-growing and
industry-leading businesses with a focus on the medical cannabis, health, and
wellness space, is pleased to note an announcement released on the ASX by its
portfolio company, Little Green Pharma Ltd ('LGP').

Highlights

·    LGP partners with German cannabis pioneer Cannamedical for the supply
of bulk medicinal cannabis from Denmark to Germany, with a potential value of
over A$4.5 million (€3 million)(1) over two years

·    This is the fourth medicinal cannabis supply agreement with key
wholesalers and distributors in Germany that LGP announces in 2022

·    Agreement extends LGP's lead as the pre-eminent non-Canadian global
medicinal cannabis group supplying flower into Germany and the EU

·    Agreement represents continued validation of LGP's key strategy of
developing bespoke, high-value white label strains for export to lucrative
jurisdictions

LGP's wholly owned subsidiary, Little Green Pharma Denmark ApS ("LGP Denmark")
has signed a medicinal cannabis exclusive supply agreement (the 'Agreement')
for a high-THC medical cannabis strain, in bulk, from Denmark to Germany with
a potential value of over A$4.5 million with Cannamedical Pharma GmbH
("Cannamedical"), a German-based cannabis pioneer with licenses to import
medicinal cannabis into Germany and distribute and export it within the
European Union.

·    SEED owns 7,324,796 ordinary shares in LGP representing 3% of LGP's
issued share capital.

Alfredo Pascual, VP of Investment Analysis at SEED, commented: "It is great to
see LGP adding another supply deal to its portfolio. LGP's agreement with
Cannamedical represents a great achievement for the company. This fourth deal
announced by LGP this year for the sale of medical cannabis from its Danish
facility to Germany further showcases the viability and the quality of its
products. With first export to Cannamedical expected within H1 2023, I am
looking forward to updating the market on LGP's progress".

 

The announcement including the material terms of the Agreement can be viewed
in full on LGP's website via the following link:
https://investor.littlegreenpharma.com/site/investor-centre/asx-announcements
(https://investor.littlegreenpharma.com/site/investor-centre/asx-announcements)

1 EUR.AUD 0.66 as at 3 October 2022

 

- Ends -

 

 

 

 

For further information on the Company please visit:  www.seedinnovations.com
(http://www.seedinnovations.com/)   or contact:

 

 Ed McDermott       SEED Innovations Ltd         E: info@seedinnovations.co

 Lance de Jersey
 James Biddle       Beaumont Cornish Limited,    T: (0)20 7628 3396

 Roland Cornish     Nomad
 Isabella Pierre    Shard Capital Partners LLP   T: (0)20 7186 9927

 Damon Heath        Broker
 Catherine Leftley  St Brides Partners Ltd,      E: info@stbridespartners.co.uk

 Isabelle Morris    Financial PR

 Max Bennett

 

 

Notes

Seed Innovations Ltd

SEED Innovations is an AIM quoted investment company focused primarily on
disruptive high growth life sciences and technology businesses particularly
within the medical cannabis arena. The Company's strategy is to identify
early-stage opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of investee
companies to a level where relevant time can be devoted to each.

About Little Green Pharma

Little Green Pharma is a global, vertically integrated and geographically
diverse medicinal cannabis business with operations from cultivation and
production through to manufacturing and distribution. The Company has two
global production sites for the manufacture of its own-branded and white-label
ranges of GMP-grade medicinal cannabis products, being a 21,500m2 cultivation
and 4,000m2 GMP manufacturing facility capable of producing over 20 tonnes of
medicinal cannabis biomass per annum located in Denmark (EU) and an indoor
cultivation and manufacturing facility located in Western Australia capable of
producing ~3 tonnes of medicinal cannabis biomass per annum. Little Green
Pharma products comply with all required Danish Medicines Agency and
Therapeutic Goods Administration regulations and testing requirements. With a
growing range of products containing differing ratios of active ingredients,
Little Green Pharma supplies medical-grade cannabis products to Australian,
European and overseas markets. The Company has a strong focus on patient
access in the emerging global medicinal cannabis market and is actively
engaged in promoting education and outreach programs, as well as participating
in clinical investigations and research projects to develop innovative new
delivery systems. For more information about Little Green Pharma go to:
www.littlegreenpharma.com

About Cannamedical Pharma GmbH

Cannamedical® Pharma GmbH was founded in 2016 and is one of the leading
independent medical cannabis distributors in Germany, operating in Cologne and
are partnered with several selected cannabis producers all over the world
including Canada, Australia, Holland and Germany. The Company imports and
processes only high-quality medicinal cannabis products. The company received
the research seal "Innovative through Research" from the Federal Ministry of
Education and Research ('BMBF') and the International Life Science Award 2022
in the category "Best Medical Cannabis Products Supplier 2022 - Germany" in Q3
2022. Cannamedical aims at helping people with chronic illnesses to giving
them a better quality of life with medicinal cannabis.

For more information, visit www.cannamedical.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.cannamedical.com&esheet=51994908&newsitemid=20190605005461&lan=en-US&anchor=www.cannamedical.com&index=2&md5=cb59c83408297245613241db90634f5f)
.

 

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