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

Seed InnovationsAnnouncement

31/10/2023 11:30

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RNS Number : 8849R  Seed Innovations Limited  31 October 2023

31 October 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, 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 2.44% of LGP's
issued share capital.

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

Quarterly Activities Report and Appendix 4C

Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is pleased to
provide its activities report and Appendix 4C for the quarter ending 30
September 2023.

Highlights

·    Revenue $6.2 million (unaudited) and cash receipts $6.6 million

·    Paul Long appointed CEO as Fleta Solomon transitions to executive
director

·    France post-trial access pathway proposed amendment published

·    Reset mind sciences expected to be demerged by end of 2023

·    FY2023 R&D claim lodged for $5.5 million with funds expected in
coming quarters

·    Five new LGP products released

·    Global quest initiative study launched

·    Clinically meaningful quest 3-month results published

·    Reset cultivates first psilocybin mushrooms and imports first
psilocybin shipment

·    LGP introduces industry first trial box product

·    EU pharmacopeia cannabis monograph announced

·    Cash in bank $6.2 million

 

The announcement in full can be accessed from the following link:
https://www.investlittlegreenpharma.com/site/showdownloaddoc.aspx?AnnounceGuid=a0ba0a4d-814d-474f-a5c4-ccfc6cb95279

- 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.

 

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