TIDMSEED
Seed Innovations Limited
07 September 2021
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
7(th) September 2021
SEED Innovations Limited ("SEED" or the "Company")
Investee Company Update: Little Green Pharma
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.
LGP completed its first product shipment of its own branded
cannabis flower medicines to the Australian market from its newly
acquired Danish Facility ("the Facility") and also announced two
key appointments.
The announcement by LGP is set out below without material
changes or adjustments:
First Danish shipment to Australia, key appointments
Successful import of first Denmark facility flower into
Australia
LGP appoints group CFO and General Manager (EU)
Highlights
-- LGP has successfully imported its first shipment of 50
kilograms of "Billy Buttons" THC 16 cannabis flower medicine from
its recently-acquired Danish Facility into Australia - in just over
2 months since acquisition
-- Billy Buttons THC 16 has a tetrahydrocannabinol (THC) content
of 16% and is available for sale in Australia in 15g packs
-- LGP expects to import two further flower shipments of
cannabis flower medicines from its Danish facility by end October
2021
-- These shipments are expected to help meet the growing demand
in Australian for cannabis flower medicines
-- LGP has also appointed Morten Snede, former Managing Director
of LGP's Danish Facility, as CFO and Tony Roberts, former Managing
Director of Tasmanian Botanics, as its General Manager (EU).
Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is
pleased to announce its successful first shipment of cannabis
flower medicines to Australia from its recently acquired Danish
Facility ("the Facility").
The shipment comprises 50kgs of LGP's "LGP Flower THC 16 - Billy
Buttons" flower medicine, named after the eponymous Australian
wildflower. Billy Buttons THC 16 has a THC content of 16% and is
available in the Australian market in 15g packs. LGP's Billy
Buttons medicine is grown under Good Agricultural and Collection
Practices ("GACP"), manufactured under EU Good Manufacturing
Practices ("EU GMP"), and conforms with Therapeutic Goods (TGO 93)
Order 2017.
The Company was able to successfully import the shipment in just
over 2 months following its acquisition of the Facility.
LGP's Billy Buttons THC 16 medicine is now available for sale in
Australia through all pharmacies. LGP anticipates two further
shipments of LGP cannabis flower medicines (totalling 65kgs) from
the Facility arriving by end October 2021.
Dried flower medicine sales in Australia have seen an increase
in demand as doctors become more comfortable with this method of
administration, with cannabis flower frequently prescribed due to
its rapid onset of therapeutic benefit.
Key appointments
In addition, the Company is pleased to announce two key
appointments, being Morten Snede as Chief Financial Officer and
Tony Roberts as the Group's General Manager (EU).
Morten Snede, Chief Financial Officer. Morten brings more than
20 years of experience from various senior level managerial
positions in the financial and maritime industries as both a CFO
and Group Director. In 2018 Morten joined Canopy Growth as Managing
Director (Denmark) tasked with the establishment and development of
the Facility. Morten has also been on several Boards within the
Maritime industry as well as being Chairman of the Board of the
Medical Cannabis Industry Association in Denmark.
Morten holds a MSc in Commercial law and Business administration
and a Service Engineering degree from his time in the Danish Royal
Navy. He also has a Postgraduate diploma in International and
Maritime Law from the London Metropolitan University.
Tony Roberts, General Manager (EU). Tony was previously the
Managing Director of Tasmanian Botanics Pty Ltd for 3.5 years,
during which time he established one of the first fully integrated
seed to sale, TGA-GMP certified, medicinal cannabis facilities
engaged in cultivation, genetic research, and manufacturing in
Australia and capable of producing substantial quantities of dry
biomass.
Prior to this, Tony was an independent business consultant for
over 10 years in Australia and overseas, working with businesses in
strategic planning, corporate governance, product development and
organisational design; and before he had over 34 years' experience
in an Australian ASX listed agribusiness, with 20 years as a senior
corporate executive involved in financial services, business
acquisition, strategic planning, IT design and implementation and
customer development. Tony has also acted as a Chairman and
Director of various companies and community organisations and is a
Member of the Institute of Credit Management and a Justice of the
Peace.
LGP Managing Director Fleta Solomon said: "The import of this
first shipment so quickly following the acquisition is a milestone
achievement by our new Denmark team. To be able to meet all the
regulatory requirements to supply and import product within this
timeframe is a significant achievement and consistent with our
reputation as a leading global medicinal cannabis business.
Flower medicines are becoming increasingly popular with
Australian doctors in prescribing to patients for quick onset of
effects, mainly for breakthrough pain or to assist with sleep, and
with access to this Denmark-grown product we are able to provide a
new supply chain of high-quality, medicinal cannabis flower in an
under-supplied market.
In addition, I am very pleased to announce the appointment of
Morten Snede to the role of Group CFO and Tony Roberts to the role
of General Manager (EU). Both bring a huge amount of expertise in
the medicinal cannabis industry to LGP, having both overseen the
creation and development of significant medicinal cannabis
businesses in their own right. We are very excited that they have
agreed to join the LGP team and help us realise LGP's ambition of
continuously improving patient access to GMP cannabis medicines and
being the leading pure-play medicinal cannabis supplier
globally."
For further information please contact:
Fleta Solomon Managing Director Little Green Pharma E:
f.solomon@lgp.global T: +61 8 6280 0050 Alistair Warren Company
Secretary Little Green Pharma E: a.warren@lgp.global T: +61 8 6280
0050
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 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.co
*S*
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 Cornish Nomad
----------------------- -----------------------------------
Isabella Pierre Shard Capital Partners Tel: +44 (0)20 7186
/ LLP 9927
Damon Heath
----------------------- -----------------------------------
Catherine St Brides Partners Email: info@stbridespartners.co.uk
Leftley / Ltd,
Isabelle 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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