FastForward Innovations Limited Investee Update: EMMAC Life Sciences and Yooma (9007Q)
02 Marzo 2021 - 3:06PM
UK Regulatory
TIDMFFWD
RNS Number : 9007Q
FastForward Innovations Limited
02 March 2021
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
2 March 2021
FastForward Innovations Ltd ("FastForward" or, "FFWD")
Investee Company Update: EMMAC Life Sciences and Yooma
Wellness
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
companies EMMAC Life Sciences ('EMMAC') and Yooma Wellness Inc.
('Yooma'). FastForward has a 2.3% interest in the issued stock of
EMMAC and an 8.95% interest in the issued stock of Yooma.
The announcement is set out below without material changes or
adjustments.
EMMAC LIFE SCIENCES GROUP AGREES SALE OF WELLNESS BRANDS
TO YOOMA WELLNESS INC.
EMMAC TO ACCELERATE GROWTH OF MEDICAL CANNABIS OPERATIONS
2 March 2021, London. EMMAC Life Sciences Group ("EMMAC" or the
"Group" or the "Company"), Europe's largest independent cannabis
company, is pleased to announce the strategic sale of its wellness
brands to Yooma Wellness Inc. ("Yooma") (CSE: YOOM), an emerging
marketer and distributor of cannabinoid and hemp-derived wellness
products. Yooma will acquire the brands Blossom, MYO, Hello Joya
and What the Hemp, after previously licensing the brands from EMMAC
under the terms of an agreement announced on 20 January 2021.
Antonio Costanzo, CEO of EMMAC, said: "EMMAC's strategic focus
is to accelerate the growth of its medical cannabis and B2B
wellness business operations. The strength of our vertically
integrated business model and the investment made in our European
facilities in the past year means that we have a compelling market
advantage to deliver real revenue growth in these areas."
International cannabis market research firm, Brightfield Group,
project Europe's medical cannabis market to grow to over US$3.1
billion by 2025, with a 2020-2025 CAGR of 52%.
Antonio Costanzo, CEO of EMMAC, continued: "As a result of this
sale, Yooma has the opportunity to capitalise on the traction that
EMMAC's wellness brands have made, particularly in the UK, and
extend the distribution channels for these brands into China and
further Asian markets."
The total purchase price is approximately US$8.1 million, and
will be payable as 7,459,981 shares of Yooma valued at their 5-day
volume weighted average price of CA$1.384.
- 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/ .
Contact:
For scientific enquiries please contact research@emmac.com
For general enquiries please contact info@emmac.com or visit
www.emmac.co m
CAUTIONARY STATEMENT
All statements, other than statements of historical fact, in
this news release are forward-looking statements that involve
various risks and uncertainties, including, without limitation,
statements regarding potential values, the future plans and
objectives of EMMAC Life Sciences Group. There can be no assurance
that such statements will prove to be accurate, achievable or
recognisable in the near term.
Actual results and future events could differ materially from
those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and
are expressly qualified in their entirety by this notice. EMMAC
Life Sciences Group assumes no obligation to update forward-looking
statements should circumstances or management's estimates or
opinions change.
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 Limited, Tel: +44 (0) 207 628
Cornish Nomad 3396
-------------------------- ----------------------
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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