TIDMFFWD
FastForward Innovations Limited
20 January 2021
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
20 January 2021
FastForward Innovations Ltd ("FastForward" or, "FFWD")
Investee Company Update: EMMAC Life Sciences and Yooma Corp.
FastForward Innovations Ltd, the AIM quoted company focusing on
making investments in fast growing and industry leading businesses,
notes the following announcement released today concerning investee
company EMMAC Life Sciences ('EMMAC') and Yooma Corp. ('Yooma').
FastForward has a 2.3% interest in the issued stock of EMMAC and a
10.65% interest in the issued stock of Yooma.
The announcement is set out below without material changes or
adjustments.
EMMAC LIFE SCIENCES GROUP AND YOOMA CORP.
ENTER INTO LICENSING AGREEMENT FOR EMMAC WELLNESS BRANDS
Partnership to accelerate growth and drive new market entry,
with a focus on Asia
London (UK), and Toronto (Canada), January 20, 2021 - EMMAC Life
Sciences Group ("EMMAC" or the "Group"), Europe's largest
independent cannabis company and Yooma Corp. ("Yooma"), one of
Asia's leading CBD and wellness social commerce companies, today
announce they have entered into a licensing agreement whereby Yooma
will license EMMAC's wellness brands, including Blossom, MYO, Hello
Joya and What the Hemp (the "EMMAC Brands"). Under the terms of the
Agreement, Yooma will have exclusive rights for the distribution
and sale of the EMMAC Brands in China, Japan, Taiwan and Australia
as well as non-exclusive distribution rights in certain other
global markets.
Blossom produces premium quality CBD skincare and wellness
products, currently sold through various on-line channels in Europe
and select retailers in the United Kingdom. MYO Plant Nutrition
combines high-quality plant ingredients with cannabinoids and other
active ingredients to produce performance-enhancing nutritional
supplements in 100% compostable recyclable packaging. What The Hemp
and Hello Joya are both plant-based hemp snack brands currently
sold through select retail partners in France with What The Hemp
also being available in certain stores in the UK.
Yooma intends to integrate the EMMAC Brands into its existing
sales channels in Asia, including cross-border ecommerce in China
on various Alibaba platforms.
Ron Wardle, CEO of Yooma, said: "We are really excited to
license these premium brands from EMMAC. The nutraceutical products
will serve as an entry point for Yooma into this new product
category, and exclusive licensing of Blossom will facilitate the
opening of a TMall flagship store. Furthermore, we expect that the
licensing model will result in improved unit economics for
Yooma."
Antonio Costanzo, CEO of EMMAC, said: "We are very pleased to be
partnering with Yooma. Their expertise in CBD Lifestyle brands as
well as their established footprint in Asia will bring immediate
scale and expertise to our exciting portfolio of wellness brands.
We look forward to seeing increased momentum in product sales in
new and emerging markets, as well as building momentum in
Europe."
- Ends -
About EMMAC Life Sciences Group
EMMAC Life Sciences Group is Europe's largest independent
cannabis company, bringing together pioneering science and research
with cutting-edge cultivation, extraction and production. With a
unique supply and distribution network throughout Europe, EMMAC's
vision is to bring the life-enhancing potential of cannabis to the
people who need it. For more information about EMMAC, please visit
https://www.emmac.com/ .
For general enquiries please contact info@emmac.com or visit
www.emmac.co m
About YOOMA CORP.
Through its wholly-owned subsidiary, EDA and subsidiaries based
in China, Japan and the United States, Yooma intends to leverage
the success and experience of its senior management to build
Yooma's business into one of Asia's leading cannabinoid (CBD) and
wellness products social commerce companies through the
distribution and sale of CBD beauty and skincare and other wellness
products via a strategically curated network of sales channels.
Yooma has assembled a strong international team of multicultural
industry professionals with extensive experience in digital
marketing, ecommerce and social media in the pan-Asian region with
particular depth in the Chinese ecommerce market. For more
information, please visit www.yooma.ca
Media Contact :
Yooma Corp.
Ron Wardle
Email: rwardle@yooma.ca
Notice regarding Forward Looking Statements
All information included in this press release, including any
information as to the future financial or operating performance and
other statements of Yooma that express management's expectations or
estimates of future performance, other than statements of
historical fact, constitute forward-looking information or
forward-looking statements within the meaning of applicable
securities laws and are based on expectations, estimates and
projections as of the date hereof. Forward-looking statements are
included for the purpose of providing information about
management's current expectations and plans relating to the future.
Wherever possible, words such as "plans", "expects", "scheduled",
"trends", "forecasts", "future", "indications", "potential",
"estimates", "predicts", "anticipate", "to establish", "believe",
"intend", "ability to", or statements that certain actions, events
or results "may", "should", "could", "would", "might", "will", or
are "likely" to be taken, occur or be achieved, or the negative of
these words or other variations thereof, have been used to identify
such forward-looking information. Specific forward-looking
statements include, without limitation, all disclosure regarding
future results of operations, economic conditions and anticipated
courses of action, including any intended uses of the EMMAC Brands
in Yooma's operations, Yooma's expansion into new product
categories, any intention of Yooma to open a Tmall flagship store
and any improvements in Yooma's unit economics.
There are many risks and uncertainties that may affect
forward-looking statements including, among others, regulatory risk
in each jurisdiction in which Yooma does or intends to operate, the
uncertainties, effects of and responses to the COVID-19 pandemic,
reliance on licenses, competition, dependence on senior management
and key personnel, general business risk and liability, regulation
of the CBD industry, changes in laws, regulations and guidelines,
compliance with laws, limited operating history, unfavourable
publicity or consumer perception, product liability, risks related
to intellectual property, product recalls, difficulties with
forecasts, management of growth and litigation, many of which are
beyond the control of Yooma. Although the forward-looking
statements contained herein reflect management's current beliefs
and reasonable assumptions based upon information available to
management as of the date hereof, Yooma cannot be certain that
actual results will be consistent with such forward-looking
information. Yooma cautions you not to place undue reliance upon
any such forward-looking statements. Yooma disclaims any intention
or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as required by applicable law. Nothing herein should be
construed as either an offer to sell or a solicitation to buy or
sell securities of Yooma.
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 Limited, Tel: +44 (0) 207 628
Cornish Nomad 3396
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Isabella Pierre / Damon Shard Capital Partners Tel: (0)207 186 9927
Heath LLP
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Isabel de Salis / Beth St Brides Partners Tel: +44 (0)207 236
Melluish Ltd, 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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END
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