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

Seed InnovationsAnnouncement

31/01/2025 12:45

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RNS Number : 4997V  Seed Innovations Limited  31 January 2025

31 January 2025

SEED Innovations Limited

("SEED" or the "Company")

 

Investee Company Update: Little Green Pharma Ltd

 

Quarterly Activities Report and Appendix 4C

 

SEED Innovations Ltd, the AIM-listed investment firm providing access to
high-growth, disruptive life sciences and technology ventures typically out of
reach for everyday investors, is pleased to note that its portfolio company,
Little Green Pharma Ltd ('LGP'), has published its quarterly activities report
and Appendix 4C for the period ending 31 December 2024 on the ASX.

 

The Company owns 7,324,796 ordinary shares in LGP representing ca. 2.4% of
LGP's issued share capital.

 

Commenting on the announcement, Ed McDermott, CEO of Seed said: "LGP continues
to demonstrate impressive year-over-year growth, with quarterly revenue rising
75% to A$9.5 million and record December revenue of A$3.6 million. The
company's strong cash position and minimal long-term debt reinforce its solid
financial position, while its net tangible assets remain significantly above
enterprise value. Notably, expansion in Germany and the UK is gaining
momentum, with A$1.0 million in German flower sales in December and A$6.0
million in binding purchase orders for these markets over the coming quarters.
These results further validate LGP's strategy, and we remain confident in its
ability to sustain this momentum."

 

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

Highlights

 

·    Revenue of $9.5 million (unaudited), up 75% on prior corresponding
period with record $3.6 million in December

·    Cash receipts of $10.0 million, up 90% on prior corresponding period

·    FY25Q3 year to date revenue of $27.0 million (unaudited) already
surpassing prior full year revenue of $25.6 million

·    Strong German and UK market growth with $1.0 million in German flower
sales in December and $6.0 million in binding purchase orders for Germany and
UK over coming two quarters

·    Additional 2tpa grow room opened in Denmark to meet increased demand

·    Launch of new Lush Labs craft flower brand, three new oil products
and one vaporiser product

·    Reset trial treatment phase completed to positive patient feedback

·    Health House due diligence acquisition completed and Company
negotiating SPA

·    Cash in bank of $3.7 million

 

The announcement in full can be accessed from the following link:
Quarterly-Activities-Report-and-Appendix-4C.pdf
(https://investlittlegreenpharma.com/site/pdf/a7b6a538-64d6-45c7-b7d2-5369b92926b5/Quarterly-Activities-Report-and-Appendix-4C.pdf)

 

- Ends -

 

For further information on the Company please visit: www.seedinnovations.co
(http://www.seedinnovations.co)   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
 Isabel de Salis   St Brides Partners Ltd      E: seed@stbridespartners.co.uk

 Ana Ribeiro       Financial PR

 Seb Weller

 

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.

 

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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