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

Seed InnovationsAnnouncement

16/08/2023 11:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230816:nRSP5228Ja&default-theme=true

RNS Number : 5228J  Seed Innovations Limited  16 August 2023

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

 

16 August 2023

 

SEED Innovations Limited

 

("SEED" or the "Company")

 

Investee Company Update: Little Green Pharma Ltd

 

SEED Innovations Ltd, the AIM-quoted company investment company providing
shareholders with exposure to early-stage health, wellness and medical
cannabis companies to which, in normal circumstances, they have limited access
to, notes the change of leadership at its portfolio company, Little Green
Pharma Ltd ('LGP').

 

The board of SEED wishes the new CEO, Paul Long, who joined Little Green
Pharma as Chief Operations Officer in 2018, and Fleta Solomon, who has
transitioned from CEO to Executive Director, success in their new roles.

 

The Company owns 7,324,796 ordinary shares in LGP representing 2.44% of LGP's
issued share capital.

 

The following announcement, which was released on the ASX is set out without
any material changes.

Change in Leadership at Little Green Pharma

Highlights:

•     CEO Fleta Solomon to transition to Executive Director role

•     Current long-term COO, Paul Long, to be appointed CEO

•     Transition effective from the AGM on 29 August

Little Green Pharma (ASX: LGP) announces a leadership transition with Chief
Executive Officer, Ms. Fleta Solomon, to step aside from the CEO position at
the end of August. The Board of Directors has appointed Mr Paul Long, the
current Chief Operating Officer (COO), as the incoming CEO. This change
represents a seamless leadership transition that will see the Company continue
on its journey of growth and innovation in the medicinal cannabis industry. Ms
Solomon, the founder of LGP, has been a driving force behind the company's
success and growth and will remain on the Board with a part-time executive
role focused on external communications, market positioning, ESG, and
branding.

She said "After seven years in the role as CEO, living and breathing Little
Green Pharma, I've elected to reduce my workload and focus increasingly on
those parts of the LGP business I'm most passionate about. While this is a
difficult decision personally, it was made much easier knowing we have a
ready-made replacement in our COO Paul Long."

LGP Chairman Mr Michael Lynch-Bell said "Fleta remains extremely passionate
about Little Green Pharma and will continue to be an invaluable asset to the
company in her new role as Executive Director. Despite stepping aside from the
CEO position, Fleta's presence and commitment to the business remain
unwavering. I would like to formally acknowledge the commitment, energy, drive
and success she has achieved in her term as CEO."

The announcement in full can be accessed from the following
link: https://investor.littlegreenpharma.com/site/showdownloaddoc.aspx?AnnounceGuid=d96a9de3-22a0-4f3e-ad23-63c39d3eee7a&TE=alfredo@seedinnovations.co
(https://investor.littlegreenpharma.com/site/showdownloaddoc.aspx?AnnounceGuid=d96a9de3-22a0-4f3e-ad23-63c39d3eee7a&TE=alfredo@seedinnovations.co)

 

- 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

 Ana Ribeiro          Financial PR

 Isabelle Morris

 

 

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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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/)
.

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  MSCGPUAARUPWUBQ