Craig Foster, Ondo InsurTech, discusses the expanded partnership with Nationwide in the US. Watch the interview here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksSeed Regulatory News (SEED)

Share Price Information for Seed (SEED)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1.50
Bid: 1.40
Ask: 1.60
Change: 0.00 (0.00%)
Spread: 0.20 (14.286%)
Open: 1.50
High: 1.50
Low: 1.45
Prev. Close: 1.50

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Investee Company Update: Little Green Pharma

2 Nov 2022 13:20

RNS Number : 1090F
Seed Innovations Limited
02 November 2022
 

Seed Innovations Ltd / AIM: SEED / Sector: Closed End Investments

 

2 November 2022

SEED Innovations Limited

("SEED" or the "Company")

Investee Company Update: Little Green Pharma Ltd Fundraise

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, is pleased to note an announcement released on the ASX by its portfolio company, Little Green Pharma Ltd ("LGP").

Little Green Pharma Ltd has announced that it has secured firm commitments for a AUD $4 million placement (the "Placement") from new and existing institutional and sophisticated investors as well as commitments for a further AUD $200,000 from LGP's Board and Executive. In addition, LGP has launched a Share Purchase Plan offer for eligible existing shareholders.

Highlights:

· LGP has received firm commitments for a AUD 4 million placement and launched a AUD 2 million Share Purchase Plan ("SPP") for eligible shareholders

· Placement demonstrates strong support from new and existing institutional and sophisticated investors

· Placement and SPP offer at AUD 0.20 per ordinary share with free-attaching 1 for 1 option exercisable at AUD 0.25

· LGP will use the funds for operational expenses and accelerating European and Australian sales

· LGP is now wholly focused on achieving break-even and ultimately delivering profitable sales, including by delivering into new and existing European supply agreements and driving increased sales in Australia

SEED have not participated in the Placement. The Company owns 7,324,796 ordinary shares in LGP representing 3.04% of LGP's issued share capital prior to the Placement.

Ed McDermott, CEO at SEED, commented:

"Whilst we are disappointed to see a discounted capital raise at this time, we still feel that LGP is a best-in-class investment in the medical cannabis industry and we are pleased to see it recently reporting ever growing patient numbers, sales and new market entries. With further funds now in place to support this growth, LGP can focus on its aim to achieve break-even while continuing on expanding its Australian and European sales channels."

 

The announcement including the material terms of the Placement can be viewed in full on LGP's website via the following link: https://investor.littlegreenpharma.com/site/investor-centre/asx-announcements

 

- Ends - 

 

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

 

Ed McDermott

Lance de Jersey

SEED Innovations Ltd

E: info@seedinnovations.co 

 

James Biddle

Roland Cornish

Beaumont Cornish Limited,

Nomad

T: (0)20 7628 3396

 

Isabella Pierre

Damon Heath

Shard Capital Partners LLP

Broker

T: (0)20 7186 9927

Catherine Leftley

Isabelle Morris

Max Bennett

St Brides Partners Ltd,

Financial PR

E: info@stbridespartners.co.uk

 

 

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 20 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. For more information about Little Green Pharma go to: www.littlegreenpharma.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCFLFLVLDLFIIF
Date   Source Headline
11th Nov 202412:43 pmRNSPortfolio Update
17th Oct 202412:00 pmRNSInvestee Company Update: Little Green Pharma Ltd
8th Oct 20247:24 amRNSPortfolio Update
24th Sep 20247:00 amRNSAGM Statement
2nd Sep 202412:35 pmRNSDirector/PDMR Shareholding
29th Aug 20247:00 amRNSNotice of AGM
29th Aug 20247:00 amRNSDirector Share Purchase
16th Aug 20242:55 pmRNSChange of Registered Address
7th Aug 202411:40 amRNSNew Investment: Pantheon Resources plc
30th Jul 20242:39 pmRNSHolding(s) in Company
23rd Jul 20247:00 amRNSInvestee Company Update: Little Green Pharma Ltd
19th Jun 20247:00 amRNSFinal Results
5th Jun 20247:00 amRNSCompletion of share buy-back programme
31st May 20245:29 pmRNSInvestee Company Update: Little Green Pharma Ltd
30th May 20244:34 pmRNSTransaction in Own Shares & TVR
28th May 20247:00 amRNSTransaction in Own Shares
24th May 20247:00 amRNSTransaction in Own Shares
23rd May 20247:00 amRNSTransaction in Own Shares & TVR
22nd May 202411:51 amRNSTransaction in Own Shares & TVR
21st May 20247:00 amRNSTransaction in Own Shares & TVR
20th May 20247:00 amRNSTransaction in Own Shares & TVR
17th May 20247:00 amRNSTransaction in Own Shares
16th May 20247:00 amRNSTransaction in Own Shares & TVR
14th May 202412:52 pmRNSTransaction in Own Shares
13th May 20241:51 pmRNSTransaction in Own Shares
13th May 20247:00 amRNSTransaction in Own Shares
10th May 20247:00 amRNSTransaction in Own Shares & TVR
3rd May 20244:06 pmRNSTransaction in Own Shares & TVR
3rd May 20247:00 amRNSTransaction in Own Shares & TVR
1st May 20247:00 amRNSTransaction in Own Shares
30th Apr 20247:00 amRNSTransaction in Own Shares & TVR
26th Apr 20244:46 pmRNSTransaction in Own Shares
25th Apr 202411:03 amRNSTransaction in Own Shares
24th Apr 20243:14 pmRNSTransaction in Own Shares & TVR
23rd Apr 202411:11 amRNSTransaction in Own Shares
22nd Apr 202411:33 amRNSTransaction in Own Shares
19th Apr 202410:55 amRNSTransaction in Own Shares & TVR
18th Apr 20241:20 pmRNSTransaction in Own Shares
17th Apr 20242:57 pmRNSInvestee Company Update: Little Green Pharma Ltd
17th Apr 202411:55 amRNSTransaction in Own Shares & TVR
16th Apr 20247:00 amRNSSpecial Dividend Declaration
15th Apr 20243:20 pmRNSTransaction in Own Shares
15th Apr 20247:00 amRNSTransaction in Own Shares
15th Apr 20247:00 amRNSReceipt of remaining £2.4m from sale of Leap
12th Apr 20247:00 amRNSTransaction in Own Shares & TVR
9th Apr 20241:00 pmRNSInvestee Company Update: Northern Leaf plc
8th Apr 202412:20 pmRNSTransaction in Own Shares & TVR
5th Apr 20248:25 amRNSTransaction in Own Shares
3rd Apr 20247:00 amRNSTransaction in Own Shares
27th Mar 20243:34 pmRNSTransaction in Own Shares & TVR

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Make Better Investment Decisions

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.