RCS - Seed Innovations Ltd - Portfolio Company Update: Northern Leaf Limited

Seed InnovationsAnnouncement

12/06/2023 08:15

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RNS Number : 3891C  Seed Innovations Limited  12 June 2023

 12 June 2023

 

SEED Innovations Limited

("SEED" or the "Company")

Portfolio Company Update: Northern Leaf Limited

Northern Leaf Limited Awarded GMP Accreditation

 

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 announce an update from portfolio company
Northern Leaf Limited ("Northern Leaf"), a Jersey based medical cannabis
producer. Northern Leaf has been awarded Good Manufacturing Practices
(''GMP'') accreditation for its flower product as an active pharmaceutical
ingredient. The accreditation is from the UK's Medicines and Healthcare
Products Regulatory Agency ("MHRA"), and a key regulatory milestone for the
company to export its products to the European Union ("EU").

The Company owns 1,236,331 ordinary shares in Northern Leaf representing 2.2%
of Northern Leaf's issued share
capital.

Commenting on the accreditation, CEO at Northern Leaf, Don Perrott, said: "GMP
accreditation is an extremely rigorous, costly and multi-year process.
Receiving this accreditation from the MHRA, who is seen as the gold standard
in the industry, is a significant achievement for Northern Leaf. It's the
strongest possible endorsement of our people, processes and product as we seek
to develop high quality cannabis-based medicines for the benefit of patients
across the EU and internationally."

Ed McDermott, CEO at SEED, commented: "I am pleased to share Northern Leaf's
latest development with SEED's shareholders. Along with its already granted
Home Office permissions, the GMP accreditation puts Northern Leaf in a strong
position to export medical-grade cannabis products across the rapidly growing
EU markets. With Northern Leaf focused on becoming a key player in the
European medical cannabis supply chain, I look forward to bringing further
updates to the market in due course."

 

- 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: seed@stbridespartners.co.uk

 Isabelle Morris    Financial PR

 Max Bennett

 

Notes to Editors

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 Northern Leaf Limited

Northern Leaf is a medical cannabis cultivator based in Jersey that, in
December 2020, was granted the first UK commercial high THC medical cannabis
license since UK based GW Pharmaceuticals (NASDAQ:GWPH) in 1998. The Company
is leading the development of a new industry for the British Isles, creating
centres of excellence, using state-of-the-art tracking systems and robust
policies and procedures to ensure the highest levels of quality from seed to
sale.

With a secure operational facility already built in Jersey where the
favourable climate and sunshine hours contribute to a comparably lower
cultivation cost, Northern Leaf will grow commercial quantities of medical
cannabis for the rapidly growing European market, including the key markets of
the UK, Germany, and Israel. For more information about Northern Leaf, please
visit https://www.northern-leaf.com/.

 

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