Investee Company Update: Northern Leaf plc
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SEED Innovations Ltd, the AIM-quoted company investment company providing shareholders with exposure to early-stage health, wellness and medical cannabis companies to which, in normal circumstances, they have limited access to, notes the public announcement by Voyager Life plc ("Voyager") that the merger between themselves and SEED investee company Northern Leaf plc ("Northern Leaf") as announced on 13 March 2024 has been terminated.
Northern Leaf management have advised shareholders that they have taken action to provide short term financing to meet immediate creditor obligations whilst they consider appropriate next steps for the company.
In light of this latest news, SEED expects to carry the investment in Northern Leaf at £nil value in the financial statements of SEED as at 31 March 2024 (previously value indicated to be £13,000 per SEEDs RNS of 22 December 2023).
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