REG - Seed Innovations Ltd - Portfolio Company Update: South West Brands

Seed InnovationsAnnouncement

21/02/2023 07:00

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RNS Number : 4998Q  Seed Innovations Limited  21 February 2023

21 February 2023

 

SEED Innovations Limited

("SEED" or the "Company")

Portfolio Company Update: South West Brands

 

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, announces a further update regarding its investment in
portfolio company South West Brands ("SWB").

On 4 October 2021, the Company announced a further £150,000 investment in SWB
by way of a 12 month, 8% Convertible Loan Note ("CLN") which came up for
maturity on 27 October 2022. As announced on 11 November 2022, SEED agreed to
extend the terms of the CLN until 16 January 2023. As the CLN has now matured,
SEED has requested full repayment of the CLN as set out in the terms detailed
in the original RNS dated 4 October 2021, including accrued interest. SEED is
currently in discussions with the SWB management team on how the repayments
will be made. SEED has a total of £500,000 invested in SWB by way of a number
of Convertible Loan Notes valued at £543,000 as at 30 September 2022.

- Ends -

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

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.

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.

 

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