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Seed Innovations Ltd - Guernsey-based investment company focused on medical cannabis, health and wellness sector - Says portfolio company Northern Leaf Ltd, a Jersey-based medical cannabis producer, has been awarded Good Manufacturing Practices accreditation from the UK Medicines & Healthcare Products Regulatory Agency. Accreditation is for company's flower product as an active pharmaceutical ingredient. Seed Innovations says this is "a key regulatory milestone for the company to export its products to the European Union". It owns 1.2 million shares in Northern Leaf, or 2.2% of its share capital.
Northern Leaf Chief Executive Officer Don Perrott comments: "GMP accreditation is an extremely rigorous, costly and multi-year process. Receiving this accreditation from the MHRA, who is seen as the gold standard in the industry, is a significant achievement for Northern Leaf."
Seed Chief Executive Officer Ed McDermott says: "I am pleased to share Northern Leaf's latest development with Seed's shareholders. Along with its already granted Home Office permissions, the GMP accreditation puts Northern Leaf in a strong position to export medical-grade cannabis products across the rapidly growing EU markets."
Current stock price: 1.75 pence, up 6.1% in London on Monday morning
12-month change: down 64%
By Emma Curzon, Alliance News reporter
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