Investee Company Update: Little Green Pharma Ltd

SEED Innovations Ltd, the AIM-quoted investment company offering exposure to disruptive, high-growth, life sciences and technology ventures typically inaccessible to everyday investors, is pleased to note an announcement released on the ASX by its portfolio company, Little Green Pharma Ltd ('LGP'), regarding its quarterly activities for the period ended 30 June 2024.

Highlights from LGP's Quarterly Report include:

• Achieved a revenue of A$7.3 million (unaudited) for the quarter, marking a 12% increase compared to the same quarter in 2023, reflecting strong sales performance.
• Cash receipts reached A$8.2 million, up 19% from the previous year's corresponding quarter.
• Sales of CherryCo branded products hit a record A$2.2 million, a 19% increase from the previous quarter.
• Significant growth in oil sales, up 17%, and vaporiser sales, up 23%. Plans to launch new brands and product formulations in the next two quarters.
• First commercial shipment to France, for A$0.65 million, are scheduled for the end of July.
• Reset's psilocybin clinical trial showed encouraging results, and the clinic fit out, supported by the Health Insurance Fund of Australia, is now complete.
• A$4.3 million in cash as of 30 June 2024.

SEED owns 7,324,796 ordinary shares in LGP representing 2.43% of LGP's issued share capital.

LGP's full Quarterly Report can be accessed at here.

OTO International Limited ("OTO")

As previously noted in the Company's Annual Report, SEED wrote down its investment in OTO to £nil as of 31 March 2024 due to concerns regarding its solvency. OTO has now gone into administration. SEED held 71,502 shares in OTO, representing approximately 0.44% of the issued share capital.

About Little Green Pharma

Nominated Adviser