Seed Innovations Limited Investee Company Update: Little Green Pharma Ltd
December 02 2022 - 5:00AM
RNS Non-Regulatory
TIDMSEED
Seed Innovations Limited
02 December 2022
2 December 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'), regarding its wholly owned subsidiary,
Little Green Pharma Denmark ApS ("LGP Denmark"). LGP Denmark has
entered into a second agreement with Cannamedical Pharma GmbH for
the exclusive supply of LGP's medicinal cannabis cultivator,
SMS.
The Company owns 7,324,796 ordinary shares in LGP representing
2.8% of LGP's issued share capital.
The following extract from the announcement is set out without
material changes or adjustments and the announcement in full can be
accessed from the link below this section.
Highlights:
-- LGP Denmark places a second exclusive medicinal cannabis
flower cultivar under a supply agreement with Cannamedical
-- Subject to Cannamedical purchasing minimum exclusivity
volumes, agreement has a minimum value of A$4.5 million (EUR3
million) over two years
-- Company targeting delivery of first shipment of
non-irradiated SMS Product in first quarter of CY2023
-- The agreement facilitates LGP's prompt replacement of SMS
strain into German market following termination of Four 20 Pharma
supply agreement and demonstrates the desirability of the SMS
strain and benefits of LGP's broad distribution partner base in
Europe
Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is
pleased to announce its wholly owned subsidiary, Little Green
Pharma Denmark ApS ("LGP Denmark"), has entered into a second
agreement ("Agreement") with Cannamedical(R) Pharma GmbH
("Cannamedical") for the exclusive supply of LGP's medicinal
cannabis cultivar SMS ("SMS Product")
Under the Agreement, LGP may deliver non-irradiated SMS Product
as an alternative to irradiated SMS Product, with the Company
targeting its first shipment of non-irradiated SMS Product to
Cannamedical in the first quarter of calendar year 2023.
The Agreement enables the supply of the LGP's SMS Product into
the German market in lieu of supply under the terminated Four 20
Pharma supply agreement, with the speed of substitution
demonstrating the desirability of the SMS strain and benefit of
LGP's broad distribution partner base in Europe.
Under the Agreement, LGP will exclusively supply the Product to
Cannamedical for sale in Germany subject to Cannamedical ordering
specified minimum quantities every six months to maintain
exclusivity. In addition, the Product pricing contemplates a THC
adjustment for every percentage point the THC content is above or
below 22%, and with the payment terms requiring the upfront payment
of a portion of the purchase price upon delivery. Subject to
Cannamedical purchasing its minimum exclusivity volumes, the
Agreement has potential value of over A$4.5 million (EUR3 million)
over its two-year term.
The announcement can be viewed in full on LGP's website via the
following link:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02607525-6A1126341?access_token=83ff96335c2d45a094df02a206a39ff4
- Ends -
For further information on the Company please visit: www.seedinnovations.com or contact:
Ed McDermott SEED Innovations E: info@seedinnovations.co
Lance de Jersey Ltd
James Biddle Beaumont Cornish T: (0)20 7628 3396
Roland Cornish Limited,
Nomad
----------------------- -------------------------------
Isabella Pierre Shard Capital Partners T: (0)20 7186 9927
Damon Heath LLP
Broker
----------------------- -------------------------------
Catherine Leftley St Brides Partners E: info@stbridespartners.co.uk
Isabelle Morris Ltd,
Max Bennett Financial PR
----------------------- -------------------------------
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
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