Seed Innovations (LSE:SEED)
Historical Stock Chart

From May 2019 to May 2024

TIDMFFWD

RNS Number : 2504I

FastForward Innovations Limited

31 March 2020

FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments

31 March 2020

FastForward Innovations Ltd ("FastForward" or, "FFWD")

Investee Company Update: EMMAC Life Sciences Limited

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, notes the following announcement released on 31 March 2020 concerning investee company EMMAC Life Sciences Limited ("EMMAC"). FastForward has a current equity interest totalling 2.3% in the stock of EMMAC.

Overview

-- EMMAC has secured pharmaceutical wholesaler and narcotics handling permits for Germany, Europe's largest medical cannabis market

-- Permits will enable EMMAC to drive immediate revenue growth in Germany with the sale of medical cannabis products

-- EMMAC has a range of medical cannabis products, with different strengths and THC/CBD/CBG formulations in Oil and Flos(1) formats, to address a wide range of specialist requirements

The announcement is set out below without material changes or adjustments.

31 March 2020, London. EMMAC Life Sciences Group, Europe's leading independent cannabis company, is pleased to announce that its wholly owned subsidiary, About Nature Health GmbH ("About Nature"), has secured pharmaceutical wholesaler and narcotics handling permits for Germany, Europe's largest medical cannabis market. The permits, granted according to section 52a AMG (German Pharmaceutical Law) and section 3 BMG (German Narcotics Law), will enable EMMAC to drive immediate revenue growth in Germany with the sale of medical cannabis products. EMMAC has a range of medical cannabis products, with different strengths and THC/CBD/CBG formulations in Oil and Flos(1) formats, to address a wide range of specialist requirements.

According to the Bank of Montreal(2) , the German medical cannabis market could potentially produce more than US$5 billion in revenue for global cannabis producers, with an assumption that in seven years 7.5% of sleep, anxiety and pain prescriptions in Germany will be replaced with medical cannabis.

Antonio Costanzo, CEO of EMMAC, said: "The announcement today is an important milestone for EMMAC, and demonstrates the EU GDP compliant quality management systems About Nature has in place. EMMAC is now poised to deliver immediate revenues from Germany and capitalise on the significant opportunities presented by the largest medical cannabis market in Europe, as we bring our products to market in 2020."

(1) Dried female cannabis flower

(2) https://business.financialpost.com/cannabis/cannabis-producers-could-be-chasing-global-market-worth-194-billion-in-seven-years-bmo-report

About EMMAC Life Sciences Group

EMMAC Life Sciences Group is Europe's leading 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.

Miscellaneous

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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 FastForward Innovations Ltd. 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. Fast Forward Innovations 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               Tel: +44 (0) 207 
  Cornish                  Limited,                              628 3396 
                           Nomad 
                         ------------------------  ---------------------- 
 Jeremy King              Optiva Securities              Tel: +44 (0) 203 
                           Limited,                              411 1881 
                           Broker 
                         ------------------------  ---------------------- 
 Isabel De Salis / Beth   St Brides Partners              Tel: +44 (0)207 
  Melluish                 Ltd,                                  236 1177 
                           Financial PR 
                         ------------------------  ---------------------- 
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCSDFFEFESSEFD

(END) Dow Jones Newswires

March 31, 2020 08:15 ET (12:15 GMT)