Last checked at 30 Nov 2023 12:44
30 November 2023
SEED Innovations Limited
("SEED" or the "Company")
Investee Company Update: Little Green Pharma Ltd
SEED Innovations Ltd, the AIM-quoted company investment company providing shareholders with exposure to early-stage health, wellness and medical cannabis companies to which, in normal circumstances, they have limited access to, is pleased to note that its portfolio company, Little Green Pharma Ltd ('LGP'), has published its Half Year Report for the period ended 30 September 2023 on the ASX.
The Company owns 7,324,796 ordinary shares in LGP representing 2.44% of LGP's issued share capital.
Commenting on the results, Ed McDermott, Chief Executive Officer of SEED said: "As a shareholder in LGP, we are of course very disappointed in its share price performance, but we recognise the general market malaise in small caps. Equally, we are pleased and encouraged by LGP's operational performance and continued growth. During the period, LGP delivered a 40% increase in revenue to AU$12.8 million and positive EBITDA of AU$700,000. We believe LGP has a team of strong operators and look forward to updating shareholders on its developments."
LGP's Half Year Report and a recording of its Chief Executive Officer, Paul Long, discussing its Half Year financial results can be accessed at: https://investlittlegreenpharma.com/site/investor-centre/asx-announcements
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? 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? ? |
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 |
Ana Ribeiro Isabelle Morris
| St Brides Partners Ltd Financial PR | E:?seed@stbridespartners.co.uk |
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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.