The 13 Seeds Limited IPO is closed via OnMarket. Please ensure applicationsare funded ASAP to avoid missing out.
13 Seeds Limited (ASX: 13S) is an Australian hemp food and nutraceutical company established in 2016 and based in Tasmania. The Company was founded in 2016 and sources high-quality hemp seeds for processing by third parties and then distributes its products online (through its own website and other affiliate websites) and via its nationwide distribution partners.
The Company currently has 15 products in its gourmet food range and 10 products in its skin care range with their current focus on its food products and are able to leverage their access to a large percentage of non-major supermarkets, independent grocers, and health food stores across Australia.
13 Seeds has the regulatory approvals it requires to conduct all aspects of its current hemp food business in Australia and will continue to source and secure a sustainable supply of high-quality hemp seeds direct from Tasmanian farms and seed companies.
13 Seeds Ltd is looking to undertake an IPO on ASX to raise up to $6 million via the issue of up to 30 million shares at an offer price of $0.20. The company proposes to use the funds raised from the Offer to:
13 Seeds was founded on the premise of the health benefits that can be gained from including hemp and hemp seedbased products in consumers diet and daily routine. Hemp seeds have very high oil and protein contents. The protein produced by hemp seeds are considered to be a complete protein as they contain essential fatty acids and amino acids that the human body requires for optimal health.
The oil produced by pressing hemp seeds also contains lipids that closely mimic the lipids found in human skin. These lipids are important to the moisturising and hydration of skin. Importantly, hemp seeds and hemp seed oil contain anti-inflammatory properties that can be used both orally and topically allowing for a wide variety of food, nutraceutical and skincare applications.
As hemp foods were only legalised in Australia in November 2017, the Directors of 13 Seeds consider the industry as emerging and fast growing. The global hemp food market is expected to grow at a compound annual growth rate (CAGR) of 24% between 2018- 2022.
13 Seeds aims to be a leader in the provision of hemp-based and hemp-derived products as consumers seek healthier alternatives as part of their diet and daily routine. 13 Seeds’ business model is focussed on building leading brands in the value chain with an initial focus on the Australian market. The Company sources high-quality hemp seeds for processing by third parties and then distributes its products online (through its own website and other affiliate websites) and via its nationwide distribution partners.
With 15 products in its gourmet food range and 10 products in its skin care range. 13 Seeds has a wide range of hemp products and has access to a large network of non-major supermarkets, independent grocers, and health food stores across Australia.
To execute the Company’s growth plan and implement its business model, 13 Seeds will rely on the following strategic initiatives:
13 Seeds specialises in the manufacture and sale of hemp-based products and has a ‘capital light’ strategy, under which 13 Seeds outsources the growing, dehulling, milling and pressing processes.
13 Seeds holds the following regulatory licences and certificates, including negative assurances and processes that are currently being implemented:
13 Seeds has multiple product lines, including:
13 Seeds also has a number of products in development, including specific customer specific brands and an expanding product range to target new consumer profiles.
13 Seeds generates, and is aiming to generate, revenue from the sale of its hemp-based food and nutraceutical products to consumers, wholesalers, distributors and retailers in Australia.
13 Seeds intends to grow sales of its hemp-based products via a multi-faceted growth strategy:
The Company has opted to source hemp, rather than grow it, consistent with the Company’s capital-light, brand-focussed business model. The Company currently sources hemp seeds from Midlands Seed, a specialist global company headquartered in New Zealand which supplies seeds grown in Tasmania. Under a supply agreement with Midlands Seed, 13 Seeds secured 30 tonnes of hemp seeds from the 2019 Tasmanian crop and has a Supply Option to acquire a further 35 tonnes of hemp seed from Midland Seeds for the 2020 harvest. Midlands Seed sources hemp from various third party growers predominantly in Tasmania, thereby reducing the risk of supply shortages.
13 Seeds Ltd is led by a management team with significant industry experience including:
You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk 13 Seeds Ltd is subject to a range of risks, including risks associated with limited history, loss making operations and future capital requirements, agricultural risk, power of suppliers, third party and contractual risks and brand establishment and maintenance. Please refer to Section 4 of the prospectus for further details.
Section 734(6) disclosure: The issuer of the securities is 13 Seeds Ltd ACN 614 347 269. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $5,000 may be scaled back more heavily. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.
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13 Seeds Limited (ASX: 13S) is an Australian hemp food and nutraceutical company established in and based in Tasmania. The Company sources high-quality hemp seeds for processing by third parties and then distributes its products online and via its nationwide distribution partners. With 15 products in its gourmet food range and 10 products in its skin care range, the Company has one of the widest ranges of hemp food and nutraceutical products in the Australian hemp market and are able to leverage its access to a large percentage of non-major supermarkets, independent grocers, and health food stores across Australia.
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