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Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Notes announcement from investee company Avextra AG. Avextra says it has successfully exported EU-GMP standardised cannabis extracts manufactured at its German facility to its distribution partner in Italy. Avextra is a German-based, vertically integrated medical cannabis company. Seed holds a 6.6% stake in Avextra, valued at £4.4 million as at September 30. Vice President of Investment Analysis Alfredo Pascual says: ‘Avextra’s successful export of standardized cannabis extracts to Italy marks a significant milestone in Avextra’s expansion strategy. Avextra being one of a handful of approved companies to export cannabis extract into Italy is a testament to Avextra’s commitment to the quality and effectiveness of its products. ‘We believe that Avextra is well-positioned to tap into the growing medical cannabis therapies market in Italy and beyond and we are excited to witness Avextra’s continued success and contribution to the European cannabis market.’ Current stock price: 1.89 pence, down 0.8% on Wednesday afternoon 12-month change: down 62% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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