Seed Innovations Limited Seed Investee Company Update: Little Green Pharma
28 Janeiro 2022 - 4:00AM
RNS Non-Regulatory
TIDMSEED
Seed Innovations Limited
28 January 2022
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
28 January 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 the
announcement released on the ASX by its portfolio company, Little
Green Pharma Ltd ('LGP') including its quarterly activities report
and appendix for year ended 30 December 2021. SEED owns a holding
of 7,324,796 ordinary shares in LGP representing 3.1% of LGP's
issued share capital.
Alfredo Pascual, VP of Investment Analysis of SEED, commented:
"It is very encouraging to see such a positive quarter from Little
Green Pharma, seeing increasing revenue and record cash receipts of
A$4.9 million. We are pleased to see the recent distribution
agreements throughout Europe and Denmark's first locally produced
cannabis medicine registration. With a strong cash balance of over
A$25 million and a A$5.8 million financing facility from National
Australia Bank, SEED are looking forward to a positive 2022 with
further progress and news flow from the LGP team."
The following highlights is an extract from the report and the
announcement in full can be accessed from the link below this
section.
Quarterly Activities Report and Appendix 4c
Record revenue and cash receipts for quarter
LGP's EU distribution platform now with access to over 60% of EU
population
Registration of first locally produced cannabis medicine in
Denmark
Highlights
-- Company achieves record quarterly revenue and cash-receipts,
with $3.7 million revenue (unaudited) and $4.9 million in cash
receipts
-- Agreements signed for exclusive distribution partnerships in
Germany and Greece, including for medicines produced from LGP's
Danish Facility
-- Granted Denmark's first locally produced cannabis medicine
registration, with encouraging first sales in January 2022
-- Danish Facility prequalifies for Italian government medicinal
cannabis tender and submits first bid
-- Strongly positioned to capitalise on French market, with LGP
continuing to be the preferred primary supplier into the French
trial with less than a year until completion
-- Receives unconditional approval of $5.8 million financing
facility from National Australia Bank
-- Receives research and development rebate of $1.9 million
-- Strong balance sheet with $25.2 million cash in bank
The announcement can be viewed in full including the relevant
appendices on LGP's website via the following link:
https://investor.littlegreenpharma.com/
*ENDS*
For further information on the Company please visit www.seedinnovations.co or contact:
Ed McDermott SEED Innovations Email: info@seedinnovations.co
/ Ltd
Lance de
Jersey
James Biddle Beaumont Cornish Tel: +44 (0) 207
/ Limited, 628 3396
Roland Nomad
Cornish
------------------- -------------------------------------
Isabella Shard Capital Tel: +44 (0)20
Pierre Partners LLP 7186 9927
/
Damon Heath
------------------- -------------------------------------
Catherine St Brides Partners Email: s eed @stbridespartners.co.uk
Leftley Ltd,
/ Financial PR
Isabelle
Morris
------------------- -------------------------------------
Notes
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.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAEAAFXAENAEAA
(END) Dow Jones Newswires
January 28, 2022 02:00 ET (07:00 GMT)
Fastforward Innovations (LSE:FFWD)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Fastforward Innovations (LSE:FFWD)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024