SEED Innovations NAV rises by a third as cannabis investments pay off

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SEED Innovations Limited (LON:SEED) saw its net asset value jump by a third as the value of its medical cannabis and CBD-focused investments soared.


The company, formerly known as Fast Forward Innovations, disposed of its stakes in Kanabo Group for a 223% gain, Cellular Goods after a four-fold rise and booked a profit of GBP1.9mln on the sale of EMMAC Life Sciences to Cureleaf.


Net asset value rose at the end of the year to March 2021 to 11.72p per share against 8,82p a year earlier.


Ed McDermott, chief executive said: “The year under review and post period end was fast-paced and filled with activity as we increasingly steered the business towards a new focus on the hyper-growth sectors of health, wellness, and medical cannabis, investing in several exciting new businesses and exiting others that reached liquidity events to generate notable returns.


“Looking ahead, and if the first few months of the 2021 financial year are anything to go by, this trend is likely to continue.


“With a robust cash position and having accomplished excellent NAV progression, we are well-positioned to deliver significant value to shareholders.”


Shares rose 6% to 8.25p.

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