Last checked at 9 Apr 2024 13:00
9th April 2024
SEED Innovations Limited
("SEED" or the "Company")
Investee Company Update: Northern Leaf plc
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, notes the public announcement by Voyager Life plc ("Voyager") that the merger between themselves and SEED investee company Northern Leaf plc ("Northern Leaf") as announced on 13 March 2024 has been terminated.
Northern Leaf management have advised shareholders that they have taken action to provide short term financing to meet immediate creditor obligations whilst they consider appropriate next steps for the company.
In light of this latest news, SEED expects to carry the investment in Northern Leaf at £nil value in the financial statements of SEED as at 31 March 2024 (previously value indicated to be £13,000 per SEEDs RNS of 22 December 2023).
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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
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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 |
Isabel de Salis/Ana Ribeiro/Isabelle Morris
| St Brides Partners Ltd, Financial PR | E: seed@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.