Last checked at 22 Mar 2023 10:26
22 March 2023
SEED Innovations Limited
("SEED" or the "Company")
Investee Company Update: Little Green Pharma Ltd
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, notes an announcement released on the ASX by its portfolio company, Little Green Pharma Ltd ('LGP').
The Company owns 7,324,796 ordinary shares in LGP representing 2.8% of LGP's issued share capital. The Company does not currently intend to participate in the fundraise.
The following extract from the announcement is set out without material changes or adjustments and the announcement in full can be accessed from the following link: https://investor.littlegreenpharma.com/site/investor-centre/asx-announcements
Start of Little Green Pharma Ltd announcement:
21 March 2023
REQUEST FOR TRADING HALT
Little Green Pharma Ltd ("Little Green Pharma" or the "Company") requests an immediate voluntary halt in the trading of the Company's securities (ASX:LGP) quoted on the Australian Securities Exchange ("ASX") in accordance with ASX Listing Rule 17.1.
The trading halt is requested pending announcements by the Company to the market regarding a proposed capital raise ("Stated Purpose").
In accordance with ASX Listing Rule 17.1, the Company provides the following information in relation to the request:
1. The trading halt is necessary to assist the Company in managing its continuous disclosure obligations as the Company expects to make an announcement to the market in relation to the Stated Purpose above.
2. The Company requests that the trading halt remains in place until the earlier of commencement of normal trading on Friday, 24 March 2023, or when an announcement regarding the Stated Purpose has been released to the market.
3. The Company expects to make the announcement to the market before the commencement of normal trading on Friday, 24 March 2023.
4. The Company is not aware of any reason why the trading halt should not be granted or of any further information necessary to inform the market about the trading halt.
This request for a trading halt is authorised by the Board of Directors of the Company.
End of Little Green Pharma Ltd announcement
- Ends -
For further information on the Company please visit: www.seedinnovations.co or contact:
Ed McDermott Lance de Jersey | SEED Innovations Ltd | E: info@seedinnovations.co
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James Biddle Roland Cornish | Beaumont Cornish Limited, Nomad | T: (0)20 7628 3396
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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 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.
For more information about Little Green Pharma go to: www.littlegreenpharma.com