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

Seed InnovationsAnnouncement

20/12/2024 14:30

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RNS Number : 9885Q  Seed Innovations Limited  20 December 2024

RNS Reach - non-regulatory announcement

 

20 December 2024

 

SEED Innovations Limited

("SEED" or the "Company")

 

Investee Company Update: Little Green Pharma Ltd

 

LGP to acquire Health House for AUD $1.25 million

 

SEED Innovations Ltd, the AIM-quoted investment company offering exposure to
disruptive, high-growth, life sciences and technology ventures typically
inaccessible to everyday investors, is pleased to note that its portfolio
company, Little Green Pharma Ltd ("LGP"), has entered into a binding letter of
intent ("LOI") with Health House Australia Pty Ltd ("Health House"), granting
LGP exclusive rights to acquire Health House for AUD $1.25 million in cash.

 

Key Points

·      Health House operates a nationwide medical cannabis distribution
business in Australia1 and has served as a trusted distribution partner of LGP
since 2019.

·      The proposed acquisition aligns with LGP's strategy of
capitalising on current market conditions to acquire sustainable medicinal
cannabis businesses at attractive valuations.

·      Health House is cashflow breakeven and generates approximately
$7.5 million in annual revenue.

·      The transaction has the potential to deliver significant
operational synergies and strengthen LGP's vertical integration capabilities,
while ensuring Health House remains one of LGP's key distribution partners.

 

LGP's full announcement can be accessed via the following link:
https://investlittlegreenpharma.com (https://investlittlegreenpharma.com)

(1) See https://healthhouse.com.au/ (https://healthhouse.com.au/)

 

SEED owns 7,324,796 ordinary shares in LGP representing ca. 2.4% of LGP's
issued share capital.

 

- Ends -

For further information on the Company please visit: www.seedinnovations.co
(http://www.seedinnovations.co/)  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
 Ana Ribeiro         St Brides Partners Ltd,          E: seed@stbridespartners.co.uk

 Isabel de Salis     Financial PR

 

 

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.

 

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 30 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.

 

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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