Investee Company Update: Little Green Pharma Ltd

RNS Number : 7321B

Seed Innovations Limited

04 October 2022

 

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

4 October 2022

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

Highlights

· LGP partners with German cannabis pioneer Cannamedical for the supply of bulk medicinal cannabis from Denmark to Germany, with a potential value of over A$4.5 million (€3 million)¹ over two years

· This is the fourth medicinal cannabis supply agreement with key wholesalers and distributors in Germany that LGP announces in 2022

· Agreement extends LGP's lead as the pre-eminent non-Canadian global medicinal cannabis group supplying flower into Germany and the EU

· Agreement represents continued validation of LGP's key strategy of developing bespoke, high-value white label strains for export to lucrative jurisdictions

LGP's wholly owned subsidiary, Little Green Pharma Denmark ApS ("LGP Denmark") has signed a medicinal cannabis exclusive supply agreement (the 'Agreement') for a high-THC medical cannabis strain, in bulk, from Denmark to Germany with a potential value of over A$4.5 million with Cannamedical Pharma GmbH ("Cannamedical"), a German-based cannabis pioneer with licenses to import medicinal cannabis into Germany and distribute and export it within the European Union.

· SEED owns 7,324,796 ordinary shares in LGP representing 3% of LGP's issued share capital.

Alfredo Pascual, VP of Investment Analysis at SEED, commented: "It is great to see LGP adding another supply deal to its portfolio. LGP's agreement with Cannamedical represents a great achievement for the company. This fourth deal announced by LGP this year for the sale of medical cannabis from its Danish facility to Germany further showcases the viability and the quality of its products. With first export to Cannamedical expected within H1 2023, I am looking forward to updating the market on LGP's progress".

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

1 EUR.AUD 0.66 as at 3 October 2022

- Ends -

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

Ed McDermott Lance de Jersey	SEED Innovations Ltd	E: [e-mail]
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: [e-mail]

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

About Cannamedical Pharma GmbH

Cannamedical® Pharma GmbH was founded in 2016 and is one of the leading independent medical cannabis distributors in Germany, operating in Cologne and are partnered with several selected cannabis producers all over the world including Canada, Australia, Holland and Germany. The Company imports and processes only high-quality medicinal cannabis products. The company received the research seal "Innovative through Research" from the Federal Ministry of Education and Research ('BMBF') and the International Life Science Award 2022 in the category "Best Medical Cannabis Products Supplier 2022 - Germany" in Q3 2022. Cannamedical aims at helping people with chronic illnesses to giving them a better quality of life with medicinal cannabis.

For more information, visit www.cannamedical.com .

 

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