FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments
18 February 2020
FastForward Innovations Ltd
("FastForward", "FFWD" or the "Company")
Investee Company Update: First European Company to Export Medical Cannabis to Israel
Exports 400kgs of Medical Cannabis into Israel to meet growing patient demand
FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, notes the following announcement released on 18 February 2020 concerning investee company EMMAC Life Sciences Limited ("EMMAC"). FastForward has a current equity interest totaling 2.4% in the stock of EMMAC.
The announcement is set out below without material changes or adjustments.
18 February 2020, London. EMMAC Life Sciences Group, Europe's leading independent cannabis company, is pleased to announce it has successfully exported 400 kilograms of medical cannabis to Israel, to the Bazelet Group, the largest medical cannabis company in Israel. The 400 kilograms of dried flower, the largest amount of product imported into Israel to date, was shipped from EMMAC's cultivation facility, Terra Verde, in Portugal, making EMMAC the first independent European company to export medical cannabis to Israel.
Commenting on this milestone, Antonio Costanzo, CEO of EMMAC, said: "EMMAC is very pleased to be the first independent European company to export medical cannabis to Israel through our partnership with Bazelet, supplying the highest-quality product to meet growing patient demand for medical cannabis."
The Bazelet Group is the largest Good Manufacturing Practices ('GMP') processor of medical cannabis in Israel, serving monthly, thousands of patients. Bazelet has years of experience in the pharmaceutical cannabis industry and is constantly developing new products and technologies. Bazelet has filed so far 33 provisional patent applications, of which 12 are in the Patent Cooperation Treaty ('PCT') stage.
Meir Ariel, CEO of the Bazelet Group, said: "We are very pleased to be working with EMMAC. We believe both The Bazelet Group and EMMAC share the same commitment to providing patients with premium, high quality medical cannabis and we look to strengthening our relationship in the years to come."
Commenting on EMMAC's wider strategy, Antonio Costanzo said: "2019 was extremely busy as we executed our strategy to strengthen our position in the European medical cannabis and wellness markets. We are particularly pleased we are now establishing ourselves in the mature Israeli medical cannabis market. Israel represents an important market for us and we look forward to building on this agreement by exporting more product to Israel over the course of 2020 and beyond."
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.
For scientific enquiries please contact [email protected]
For general enquiries please contact [email protected] or visit www.emmac.com
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
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.
For further information on the Company please visit www.fstfwd.co or contact:
Ed McDermott / Lance de Jersey
FastForward Innovations Ltd
Email: [email protected]
James Biddle / Roland Cornish
Beaumont Cornish Limited,
Tel: +44 (0) 207 628 3396
Optiva Securities Limited,
Tel: +44 (0) 203 411 1881
Isabel De Salis / Beth Melluish
St Brides Partners Ltd,
Tel: +44 (0)207 236 1177