SEED Innovations Ltd (AIM:SEED, OTC:FFRIF), the medical cannabis investor, said it was "pleased" by the progress of ASX-listed Little Green Pharma, which posted record revenues in its latest quarter.
“We are pleased to see the recent distribution agreements throughout Europe and Denmark's first locally produced cannabis medicine registration, Alfredo Pascual, VP of investment analysis at SEED, said.
“With a strong cash balance of over A$25mln and a A$5.8mln financing facility from National Australia Bank, SEED are looking forward to a positive 2022 with further progress and news flow from the LGP team."
LGP reported revenue of A$3.7mln in its latest quarter alongside A$4.9mln in cash receipts.
SEED owns 3.1% of LGP's issued share capital