Seed Innovations Limited Investee Company Update: Little Green Pharma Ltd
18 Fevereiro 2022 - 6:41AM
RNS Non-Regulatory
TIDMSEED
Seed Innovations Limited
18 February 2022
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
18 February 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 by its portfolio company, Little Green Pharma Ltd
('LGP').
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:
"We are delighted by our investee company Little Green Pharma
performance in the most recent Italian government supply tender.
This represents an entry into the Italian medical cannabis market,
one of the largest in Europe, and positions them well for future
possibly larger supply application processes in the country. LGP
passing the strict government qualification requirements is another
reflection of the high quality of medical cannabis flower that LGP
are producing from its Danish facility.
"This is also an endorsement of LGP's European strategy, and
with a growing presence on the continent we hope to hear more from
LGP as they progress product pathways into other countries,
including Greece and Poland where progress has been announced in
recent months."
The announcement by Little Green Pharma Ltd is set out below
without material changes or adjustments:
LGP WINS ITALIAN TENDER
Highlights:
-- LGP awarded Government tender for medicinal cannabis flower
from its Danish Facility into Italy
-- Italian Government tenders the sole route into Italian flower
market, with tender quality standards some of the highest globally
and LGP one of only two suppliers to bid for tender
-- Award builds on Company's growing European market momentum as
LGP joins small group of international cannabis producers qualified
to supply cannabis flower medicines into Italy
-- Tender award grants LGP access to Italian market with 60
million population and Total Addressable Market of A$10 billion
Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is
pleased to announce the award of an Italian Government tender to
deliver a shipment of EU GMP medicinal cannabis flower from its
Danish Facility into Italy.
The shipment value of EUR200,000 is not material, however with
the award LGP has joined a small group of international cannabis
producers qualified to supply cannabis flower medicines into Italy,
positioning LGP strongly for future upcoming Italian Government
tenders. Italy has a population of 60 million people and a Total
Addressable Market estimated at A$10 billion.
Italian Government tenders impose some of the highest GMP
product quality standards globally, with LGP one of only two
suppliers bidding for the tender and with only Aurora having been
successful in the past. The shipment will be of historic inventory
acquired as part of LGP's purchase of its Danish Facility from
Canopy Growth.
The Italian award builds on LGP's growing momentum in European
and UK markets, with LGP now having supplied products into Germany,
France, the UK and Denmark as it also continues to progress product
registration pathways into Greece and Poland.
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 Beaumont Tel: +44 (0)
Biddle Cornish Limited, 207 628 3396
/Roland Nomad
Cornish
------------------ -----------------------------------
Isabella Shard Capital Tel: +44 (0)20
Pierre Partners 7186 9927
/Damon LLP
Heath
------------------ -----------------------------------
Catherine St Brides Email: seed@stbridespartners.co.uk
Leftley Partners
/Isabelle Ltd,
Morris Financial
PR
------------------ -----------------------------------
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.
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February 18, 2022 04:41 ET (09:41 GMT)
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