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Share Name Share Symbol Market Type Share ISIN Share Description
Fastforward Innovations Limited LSE:FFWD London Ordinary Share GG00BRK9BQ81 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.30 -3.51% 8.25 8.00 8.50 8.55 8.20 8.55 1,128,734 16:25:47
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -5.0 -3.1 - 18

FastForward Innovations Limited Completion of Sale of Investment in EMMAC

07/04/2021 4:25pm

UK Regulatory (RNS & others)


Fastforward Innovations (LSE:FFWD)
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TIDMFFWD

RNS Number : 7302U

FastForward Innovations Limited

07 April 2021

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

7 April 2021

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

Completion of Sale of Investment in EMMAC Life Sciences

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to note that, further to the announcement of 10 March 2021, the sale of its investee company, EMMAC Life Sciences Limited ('EMMAC'), to Curaleaf Holdings Inc. ('Curaleaf'), has successfully been completed (the 'Transaction').

As announced, FFWD had conditionally agreed to sell its entire interest in EMMAC (comprising 6,666,667 ordinary shares and a GBP750,000 convertible loan note) (the 'Sale') for GBP5,036,459 in cash (the 'Sale Consideration') and therefore, immediately prior to completion of the Transaction, FFWD has completed the Sale and received the Sale Consideration. The proceeds of the Sale will be used to make further investments in accordance with the Company's investing policy.

Ian Burns, Chairman of FastForward Innovations, commented: "We are pleased to note that all conditions in the sale of EMMAC to Curaleaf have been met and the transaction has completed. We are delighted to have made a significant return on our original investment in EMMAC. This will result in us being in an enviable position of having cash totalling in excess of GBP6.5 million, which we aim to invest in new exciting opportunities, principally within the highly active medical cannabis, cannabinoid wellness and life sciences sectors."

**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 
                          --------------------------  ---------------------- 
 Catherine Leftley /       St Brides Partners            Tel: +44 (0)207 236 
  Megan Dennison            Ltd,                                        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.

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END

DISUBUVRAUUSRAR

(END) Dow Jones Newswires

April 07, 2021 11:25 ET (15:25 GMT)

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