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

Seed InnovationsAnnouncement

02/12/2022 10:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221202:nRSB4329Ia&default-theme=true

RNS Number : 4329I  Seed Innovations Limited  02 December 2022

2 December 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'), regarding its wholly owned
subsidiary, Little Green Pharma Denmark ApS ("LGP Denmark"). LGP Denmark has
entered into a second agreement with Cannamedical Pharma GmbH for the
exclusive supply of LGP's medicinal cannabis cultivator, SMS.

The Company owns 7,324,796 ordinary shares in LGP representing 2.8% of LGP's
issued share capital.

The following extract from the announcement is set out without material
changes or adjustments and the announcement in full can be accessed from the
link below this section.

Highlights:

·      LGP Denmark places a second exclusive medicinal cannabis flower
cultivar under a supply agreement with Cannamedical

·      Subject to Cannamedical purchasing minimum exclusivity volumes,
agreement has a minimum value of A$4.5 million (€3 million) over two years

·      Company targeting delivery of first shipment of non-irradiated
SMS Product in first quarter of CY2023

·      The agreement facilitates LGP's prompt replacement of SMS strain
into German market following termination of Four 20 Pharma supply agreement
and demonstrates the desirability of the SMS strain and benefits of LGP's
broad distribution partner base in Europe

Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is pleased to
announce its wholly owned subsidiary, Little Green Pharma Denmark ApS ("LGP
Denmark"), has entered into a second agreement ("Agreement") with
Cannamedical® Pharma GmbH ("Cannamedical") for the exclusive supply of LGP's
medicinal cannabis cultivar SMS ("SMS Product")

Under the Agreement, LGP may deliver non-irradiated SMS Product as an
alternative to irradiated SMS Product, with the Company targeting its first
shipment of non-irradiated SMS Product to Cannamedical in the first quarter of
calendar year 2023.

The Agreement enables the supply of the LGP's SMS Product into the German
market in lieu of supply under the terminated Four 20 Pharma supply agreement,
with the speed of substitution demonstrating the desirability of the SMS
strain and benefit of LGP's broad distribution partner base in Europe.

Under the Agreement, LGP will exclusively supply the Product to Cannamedical
for sale in Germany subject to Cannamedical ordering specified minimum
quantities every six months to maintain exclusivity. In addition, the Product
pricing contemplates a THC adjustment for every percentage point the THC
content is above or below 22%, and with the payment terms requiring the
upfront payment of a portion of the purchase price upon delivery. Subject to
Cannamedical purchasing its minimum exclusivity volumes, the Agreement has
potential value of over A$4.5 million (€3 million) over its two-year term.

The announcement can be viewed in full on LGP's website via the following
link:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02607525-6A1126341?access_token=83ff96335c2d45a094df02a206a39ff4
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02607525-6A1126341?access_token=83ff96335c2d45a094df02a206a39ff4)

- 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 (mailto: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 (mailto: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

 

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAUPGACPUPPUBP