TIDMFFWD
FastForward Innovations Limited
24 November 2020
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
24 November 2020
FastForward Innovations Ltd ("FastForward" or, "FFWD")
Investee Company Update: Yooma Corp.
FastForward Innovations Ltd, the AIM quoted company focusing on
making investments in fast growing and industry leading businesses,
is pleased to note the update from Yooma Corp. ('Yooma'), in which
it holds a 10.65% interest.
Ed McDermott, CEO of FastForward, commented: "As consumers
worldwide increasingly look to plant based supplements for their
wellness needs, we believe that demand for Hemp and CBD products
will continue to escalate; this places Yooma, Asia's first HEMP and
CBD Lifestyle company, in a very strong position. We are therefore
delighted to see it utilising its first mover advantage with the
launch of several new CBD beauty brands in time for this coming
Black Friday, which is a key period for retailers globally. We look
forward to providing further updates regarding Yooma's commercial
progress and its proposed merger with TSX quoted Globalive
Technology Inc."
The announcement is set out below without material changes or
adjustments.
Yooma launches CBD beauty brands into China on BorderX Lab's
cross-border eCommerce "Beyond" app
Yooma is strategically launching clean CBD beauty brands in
advance of the upcoming Black Friday and 12.12 China eCommerce
events
Yooma Corp, one of Asia's leading hemp and CBD social commerce
wellness companies, today announces the launch of clean CBD beauty
brands M SK Skincare and Lab to Beauty on BorderX Lab's China
cross-border eCommerce app, Beyond (bie-yang)
The partnership comes at an opportune time as China's eCommerce
market just posted record Singles Day sales numbers boasting 43%
growth over 2019 according to Statista. "We are strategically
launching with BorderX Lab's cross-border Beyond app in advance of
the upcoming Black Friday and 12.12 eCommerce events," said Ron
Wardle, Co-CEO Yooma Corp. "Beyond's live-stream commerce and
content storytelling capabilities provide an opportunity for Yooma
to have a direct connection to our key demographic customers while
introducing them to the next generation of clean beauty brands
incorporating cannabinoid ingredients."
"We believe that clean beauty is a strategic area of growth for
Beyond and we see a tremendous opportunity ahead, as consumers are
investing in clean ingredients and beautiful products," said Albert
Shen, co-founder and CEO of Beyond. "We're committed to continuing
our focus on cross-border eCommerce and are pleased to partner with
Yooma Corp. and help launch new premium CBD beauty brands into the
Chinese market."
"Beyond represents an incredible opportunity for US brands to
access China's booming eCommerce market," said Lorne Abony,
President of Yooma Corp. "We recognize the growing demand from
Chinese consumers for the latest global beauty trends including new
ingredients like hemp and CBD infused into beauty products. Yooma
Corp is leading this movement by supporting premium CBD beauty and
wellness brands on their Asia journey."
"We are extremely thrilled to be launching into the China
market," said Sarah Mirsini, Founder and Creator at M SK Skincare.
"The Yooma team has led our brand activation, connecting our
popular anti-aging, hydrating, and blemish CBD skincare to Chinese
key opinion leader influencers to help boost our brand awareness
and ingredient benefits to their audience."
"By partnering with Beyond, we will have an additional channel
to listen and learn from Chinese consumers and curate the best
assortment for them," said Katherine Ragus, co-founder of Lab to
Beauty. "We understand the importance of having multiple digital
and eCommerce touchpoints to share the Lab to Beauty brand story
with the Chinese consumers and provide education on our
plant-derived ingredients in our unisex collection of vegan,
cruelty-free, CBD-infused products."
About YOOMA CORP.
Yooma is Asia's leading hemp & CBD social commerce wellness
company, headquartered in Toronto with offices in Shanghai, Tokyo,
and Los Angeles. We have assembled a stellar international team of
multi-cultural industry professionals with experience in digital,
eCommerce, entertainment, and social media in the fast-growing
pan-Asian region with particular depth and expertise in the Chinese
eCommerce market.
We develop, incubate and scale the next generation of beauty and
wellness brands for Asia, with data-driven digital marketing
precision. Through Yooma's multi-channel, multi-platform
distribution channels, we utilize best-in-class global partnerships
to deliver the benefits of high quality, safe, effective, and
compliant hemp & CBD beauty and wellness products to consumers
in Asia.
About BorderX Lab Inc.
BorderX Lab is the leading e-commerce platform that brings the
US and European merchants to global middle-class shoppers. The
global cross-border e-commerce is an annual $900B market and
growing rapidly. Our flagship mobile fashion and beauty discovery
app Beyond offers authentic products at attractive prices to more
than 10 million users. We have direct merchant partnerships and
provide a turn-key solution to localization, marketing, payment,
logistics, and customer care enabled by technology innovation.
BorderX Lab has offices in Silicon Valley and Shanghai.
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
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Isabella Pierre / Damon Shard Capital Partners Tel: (0)207 186
Heath LLP, 9927
Broker
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Isabel De Salis / Beth St Brides Partners Tel: +44 (0)207
Melluish Ltd, 236 1177
Financial PR
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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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