FastForward Innovations Limited Investee Company Update: Little Green Pharma
28 Mai 2021 - 8:00AM
RNS Non-Regulatory
TIDMFFWD
FastForward Innovations Limited
28 May 2021
RNS REACH
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
28 May 2021
FastForward Innovations Ltd
("FastForward", "FFWD" or the "Company")
Investee Company Update: Little Green Pharma Ltd
FastForward Innovations Ltd, the AIM quoted company focusing on
making investments in fast growing and industry leading businesses,
is pleased to note that Little Green Pharma Ltd ('LGP') has
announced an additional A$2.5m purchase order for LGP's high THC
cannabis flower medicine from German pharmaceutical wholesaler
Deutsche Medizinalcannabis GmbH ('DEMECAN'}. The purchase order is
for delivery in the quarter ended 31 December 2021 and follows
consistent growth in size of quarterly DEMECAN purchase orders. The
increased order reflects the demand from Germany and the confidence
in LGP's quality and supply.
Ed McDermott, CEO of FastForward Innovations, commented: "As one
of our most recent investments in the medicinal cannabis space, we
are pleased to note the progress being made in Little Green
Pharma's strategy to increase patient access to medicinal cannabis.
The further order from DEMECAN in Germany demonstrates the
increasing global demand for LGP's GMP-grade medicinal cannabis
products and we look forward to further positive updates from
LGP."
The announcement is set out below without material changes or
adjustments other than for the inclusion of links and can be viewed
in full on LGP's website via the following link:
https://investor.littlegreenpharma.com/site/PDF/4c32c445-0d12-4ecf-85a1-f38794461140/25mfirmorderincreasesexpectedDEMECANrevenueto57m
27 May 2021
Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is
pleased to announce the receipt of an additional firm purchase
order for 21,300 units of the Company's high-THC medicinal cannabis
flower medicine from German pharmaceutical wholesaler Deutsche
Medizinalcannabis GmbH ("DEMECAN"). The purchase order has a value
of $2.5m and represents 320kg of flower for delivery during the
quarter ending 31 December 2021.
LGP's Managing Director, Fleta Solomon, commented that:
"This order means a lot more than just the value of the sales it
represents, it's tangible evidence of the success of our strategy.
We are currently in a position where all flower product we produce
is sold into Australia and overseas markets and we have customers
looking for more. It heightens the urgency for us to focus on
increasing our production capacity to capitalize on the brand
equity we have built in the market. "
This is the fourth purchase order received from DEMECAN,
following previous quarterly orders of 500, 9,000, and 17,000 units
for delivery in CYQ1, Q2, and Q3 of 2021, respectively. DEMECAN has
now ordered a total of 47,800 units of LGP medicines which would
bring the total revenue for CY2021 to $5.7m from DEMECAN alone. The
annualised run-rate based on this CYQ4 order would be 1,300kgs per
annum, which would significantly exceed the original target
run-rate of 1,000kgs per annum under the medicinal cannabis
purchase agreement (refer ASX announcement dated 27 February 2020),
and would bring the total annualized DEMECAN revenues to $10.2m per
annum.
The Company has brought its existing cultivation facilities to
full capacity in order to capitalise on growing demand in the
German market, as well as increasing demand from Australian and
other offshore markets.
Alistair Warren
Company Secretary
Little Green Pharma
E: alistair@lgpharma.com.au
M: +61 8 6280 0050
Fleta Solomon
Managing Director
Little Green Pharma
E: fleta@lgpharma.com.au
M: +41 782 260 200
About Little Green Pharma
Little Green Pharma is a vertically integrated medicinal
cannabis business with operations from cultivation and production
through to manufacturing and distribution.
The Company has an indoor cultivation facility and manufacturing
facility in Western Australia for the production of its own-branded
range of GMP-grade medicinal cannabis products.
Little Green Pharma products comply with all required
Therapeutic Goods Administration regulations and testing
requirements. With a growing range of products containing differing
ratios of active ingredients, Little Green Pharma supplies
medical-grade cannabis products to Australian and overseas
markets.
The Company has a strong focus on patient access in the emerging
global medicinal cannabis market and is actively engaged in
promoting education and outreach programs, as well as participating
in clinical investigations and research projects to develop
innovative new delivery systems.
For more information about Little Green Pharma go to:
www.littlegreenpharma.com
*** ENDS***
For further information on the Company please visit www.fstfwd.co or contact:
Ed McDermott / Lance FastForward Innovations Email: info@fstfwd.co
de Jersey Ltd
James Biddle / Roland Beaumont Cornish Tel: +44 (0) 207
Cornish Limited, 628 3396
Nomad
------------------------ -----------------------------------
Isabella Pierre / Damon Shard Capital Partners T: +44 (0)20 7186
Heath LLP 9927
------------------------ -----------------------------------
Isabel de Salis / Charlotte St Brides Partners Email: info@stbridespartners.co.uk
Hollinshead Ltd,
Financial PR
------------------------ -----------------------------------
Notes
FastForward Innovations is an AIM quoted investment company
focused primarily on disruptive high growth life sciences and
technology businesses particularly within the medical cannabis
arena. The Company's strategy is to identify early stage
opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of
investee companies to a level where relevant time can be devoted to
each.
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