Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Notes announcement from investee company Avextra AG. Avextra says it has successfully exported EU-GMP standardised cannabis extracts manufactured at its German facility to its distribution partner in Italy. Avextra is a German-based, vertically integrated medical cannabis company. Seed holds a 6.6% stake in Avextra, valued at GBP4.4 million as at September 30.
Vice President of Investment Analysis Alfredo Pascual says: "Avextra's successful export of standardized cannabis extracts to Italy marks a significant milestone in Avextra's expansion strategy. Avextra being one of a handful of approved companies to export cannabis extract into Italy is a testament to Avextra's commitment to the quality and effectiveness of its products.
"We believe that Avextra is well-positioned to tap into the growing medical cannabis therapies market in Italy and beyond and we are excited to witness Avextra's continued success and contribution to the European cannabis market."
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By Sophie Rose, Alliance News reporter
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