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Seed Innovations – investee company updates and still other IPO potential: BUY

Seed Innovations (SEED) is pleased to note that the company in which it holds 7,324,796 shares, Little Green Pharma (ASX:LGP), has announced its largest single-strain offtake quantity contract to date, with a minimum take or pay commitment of $7.5 million over 30 months." This follows the company in which it holds 4,427,609 shares, Yooma Wellness (CSE & AQSE - YOOM), announcing that its fourth quarter saw revenue of US$5.3 million, exceeding previous forecasts”.


Seed Innovations – a buy?

FastForward Innovations - now Seed Innovations (SEED) - was a recommendation last year on the N50 website which also features writers here Tom Winnifrith and Steve Moore. That was at a 6.2p offer price, noting the discount to NAV looked severe and looking for operational progress and increased interest particularly in the health area to propel NAV forward again. Little more than two months later the shares had already reached 12p to sell despite the company then stating “it is naturally a more challenging market for fundraising, which could delay the roll-out of future growth plans”. We banked gains, but there has been operational progress, though the shares are currently available at an 8.4p offer price.

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