SEED Innovations Ltd (AIM:SEED, OTC:FFRIF) said one of its investee company, Little Green Pharma Ltd (ASX:LGP), has signed a two-year medical cannabis supply agreement with a German pharmaceutical wholesaler.
Australia-listed Little Green Pharma signed an agreement with Ilios Sante, for a non-exclusive white-labelled product, supplied into Germany for a total deal value of A$2mln.
Ilios Sante is a part-owned subsidiary of European medical cannabis healthcare company, Bloomwell Group.
“This aligns with LGP's key growth strategy and solidifies Little Green Pharma's growing presence as one of the leading global medicinal cannabis suppliers, developing bespoke high-value white label strains in the European Union with its GMP-licensed Danish facility,” said Alfredo Pascual, vice-president of investment analysis at SEED.
SEED owns roughly 7.3mln shares in Little Green Pharma, representing a 3.1% interest in the company.