FastForward Innovations Limited Investee Company Update: Nuuvera (5863B)

TIDMFFWD

RNS Number : 5863B

FastForward Innovations Limited

11 January 2018

11 January 2018

FastForward Innovations Limited

("FastForward"")

Investee Company Update: Nuuvera Completes TSX Venture Exchange Listing

FastForward is pleased to announce that investee company Nuuvera Corp ("Nuuvera" (TSXV: NUU)), a privately held company formed to capitalize on the global secular trend towards the legalization of cannabis, in which FastForward has a holding of 3.75%, completed its listing on the TSX Venture Exchange ("TSX") on 9 January 2018.

The price of Nuuvera's shares on admission to the TSX was C$2.50, but Nuuvera closed its second day of trading on the TSX at a price of C$6.85 per share. At this price, the value of the Company's 3,000,000 shares in Nuuvera is approximately C$20,550,000.

Lorne Abony, Chief Executive Officer of FastForward commented:

"We are delighted to announce the listing of Nuuvera has completed. The Board believes other investments held by the Company have similar potential. The Directors will work hard during 2018 and beyond to unlock the huge inherent value in the Company's portfolio and realise further value for shareholders."

About Nuuvera

Nuuvera is a global cannabis company founded on Canadian principles, and built with the whole world in mind. Nuuvera is currently working with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. Through its subsidiaries, ARA - Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the Narcotic Control Regulations and Office of Controlled Substances. Nuuvera is currently in the final stages of the Health Canada review process to become a Licensed Producer of medical marijuana under the ACMPR, and has recently received its "letter to build" approval.

For further information please visit www.fstfwd.co or contact:

 
FastForward Innovations Limited [e-mail] 
 Sue Saunders/ Ian Burns 
------------------------------------------------------------ 
Beaumont Cornish Limited (Nomad) Tel: [phone] 
 James Biddle / Roland Cornish 
------------------------------------------------------------ 
Optiva Securities Limited (Broker) Tel: [phone] 
 Ed McDermott 
------------------------------------------------------------ 
 

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 recognizable 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. FastForward Innovations assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUASBRWUAAARR

(END) Dow Jones Newswires

January 11, 2018 03:00 ET (08:00 GMT)