REG - Seed Innovations Ltd - Investee Company Update: Little Green Pharma LTD

Seed InnovationsAnnouncement

17/04/2023 11:30

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RNS Number : 4428W  Seed Innovations Limited  17 April 2023

17 April 2023

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').

The Company owns 7,324,796 ordinary shares in LGP representing 2.46% 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
following link:
https://investor.littlegreenpharma.com/site/content/
(https://investor.littlegreenpharma.com/site/content/)

 

Start of Little Green Pharma Ltd announcement:

17 April 2023

 

First shipment to Ilios Santé in Germany

 

Highlights:

·    First shipment of new high THC strain delivered to Ilios Santé in
Germany

·    Opens pathway to second major German medicinal cannabis distributor
in addition to Demecan

·    Follows further Danish shipment to Demecan with deliveries
reinforcing LGP's first-mover European strategy

·    Ilios Santé is a wholly-owned subsidiary of The Bloomwell Group, a
leading European medical cannabis healthcare group

 

Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is pleased to
announce the delivery of its first shipment of a high THC medicinal cannabis
flower product to Ilios Santé in Germany from the Company's Danish facility.
The shipment also follows another recent shipment of 30kg of high-THC flower
delivered by the Danish Facility to Demecan in February. 1 

Based on the minimum annual quantities to be purchased by Ilios Santé during
the two-year term, the Agreement has a value of ~$2.3 million (~€1 .4
million 2 ), with ~80% of the minimum quantities falling in the second year.
Further details in relation to the supply agreement is set out in the ASX
announcement dated 12 July 2022.

With signing of commercial terms back in July 2022, the shipment represents
the culmination of a nine-month engagement process that includes obtaining
licences, vendor qualification and quality assurance audit, and finalising
quality arrangements between the parties.

The long lead-time between commercial terms and first shipment due to the
extensive quality and regulatory requirements associated with shipping
pharmaceuticals between countries, mean first-mover suppliers are frequently
best placed in new markets given the time and effort distributors face
qualifying and approving replacement supply arrangements with new vendors. LGP
regards this insight as critical in understanding LGP's long-term strategy to
grow and consolidate market gains in existing territories while continuing to
move rapidly into new European markets.

End of Little Green Pharma Ltd announcement:

 

- Ends -

 

For further information on the Company please visit:  www.seedinnovations.co
(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 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.

 

About Ilios Sante and the Bloomwell Group

Ilios Santé is an EU Good Distribution Practices (GDP) licensed
pharmaceutical wholesaler headquartered in Frankfurt, Germany. It is a wholly
owned subsidiary of leading German medical cannabis healthcare company, The
Bloomwell Group, a holding company for medical cannabis companies with a
mission to build, acquire and invest in ESG healthcare companies along the
entire value chain outside of cultivation. As a member of the Bloomwell Group,
Ilios Santé is part of a fully integrated group of distinct cannabis-related
brands each fulfilling a distinct purpose, including Ilios Santé in the
medicinal cannabis space, Algea Care, Europe's leading telemedicine platform,
and Bloomwell's lifestyle brand, Breezy.

 

For more information about Little Green Pharma go
to:  www.littlegreenpharma.com (http://www.littlegreenpharma.com/)

 

 1  See ASX announcement re supply agreement between LGP Denmark and Deutsche
Medizinalcannabis GmbH dated 19 April 2022

 2  EUR:AUD 0.6128 (as at14 April 2023)

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