Portfolio Company Update: South West Brands

RNS Number : 4998Q

Seed Innovations Limited

21 February 2023

 

21 February 2023

SEED Innovations Limited

("SEED" or the "Company")

Portfolio Company Update: South West Brands

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, announces a further update regarding its investment in portfolio company South West Brands ("SWB").

On 4 October 2021, the Company announced a further £150,000 investment in SWB by way of a 12 month, 8% Convertible Loan Note ("CLN") which came up for maturity on 27 October 2022. As announced on 11 November 2022, SEED agreed to extend the terms of the CLN until 16 January 2023. As the CLN has now matured, SEED has requested full repayment of the CLN as set out in the terms detailed in the original RNS dated 4 October 2021, including accrued interest. SEED is currently in discussions with the SWB management team on how the repayments will be made. SEED has a total of £500,000 invested in SWB by way of a number of Convertible Loan Notes valued at £543,000 as at 30 September 2022.

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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]

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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.

 

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