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

Seed InnovationsAnnouncement

30/11/2023 12:45

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RNS Number : 2559V  Seed Innovations Limited  30 November 2023

30 November 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 that its portfolio company, Little Green Pharma Ltd
('LGP'), has published its Half Year Report for the period ended 30 September
2023 on the ASX.

 

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

 

Commenting on the results, Ed McDermott, Chief Executive Officer of SEED said:
"As a shareholder in LGP, we are of course very disappointed in its share
price performance, but we recognise the general market malaise in small
caps.  Equally, we are pleased and encouraged by LGP's operational
performance and continued growth. During the period, LGP delivered a 40%
increase in revenue to AU$12.8 million and positive EBITDA of AU$700,000. We
believe LGP has a team of strong operators and look forward to updating
shareholders on its developments."

 

LGP's Half Year Report and a recording of its Chief Executive Officer, Paul
Long, discussing its Half Year financial results can be accessed at:
https://investlittlegreenpharma.com/site/investor-centre/asx-announcements
(https://investlittlegreenpharma.com/site/investor-centre/asx-announcements)

 

  - 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
 Ana Ribeiro         St Brides Partners Ltd        E: seed@stbridespartners.co.uk

 Isabelle Morris     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.

 

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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