SEED Innovations Ltd (AIM:SEED, OTC:FFRIF) said it has requested the full repayment of a convertible loan note from its portfolio company, South West Brands (SWB).
According to a statement from the AIM-quoted investment company, it has £500,000 invested in SWB by way of convertible notes, which were valued at £543,000 as of 30 September 2022.
SEED said it is in discussions with SWB management on how the repayments will be made.
Focusing on businesses within the medical cannabis and wellness space, SEED said it invested a further £150,000 in SWB by way of a 12-month, 8% convertible loan note, which matured a year later, although SEED had extended the deadline to 16 January 2023.
SWB is an all-female London-based consumer goods company in the cannabidiol (CBD) industry.