viewFastForward Innovations Limited

FastForward Innovations backs latest fundraiser by medical cannabis specialist EMMAC Life Sciences

The investment company has been issued with £750,000-worth of convertible loan notes

FastForward Innovations Limited -

FastForward Innovations Ltd (LON:FFWD) said it has been issued with £750,000-worth of convertible loan notes in EMMAC Life Sciences as part of a £15mln fundraiser by the medical cannabis specialist.

The investment company said the 12-month notes were acquired at a discount with FastForward paying £705,000 for the freshly issued debt.

Remaining conservative, FastForward said it will carry the 2.3% EMMAC stake on the balance sheet at its current valuation of £2.4mln.

"As a European leader in the production and supply of medical cannabis, we are delighted to continue to support EMMAC on its journey as it seeks to meet the rapidly growing demands of this exciting market,” said FastForward chairman Ian Burns in a statement.

“EMMAC consistently exceeds our expectations, addressing challenges faced by patients and clinicians and giving more people access to premium quality cannabis-based medicines. 

“As an example, just recently, it announced the UK manufacture of its range of premium medical cannabis products, meaning it can now offer a reliable and high-quality product to the UK at a reasonable price point. We look forward to providing further updates as EMMAC continues its growth trajectory," he added.

Quick facts: FastForward Innovations Limited

Price: 13.25 GBX

Market: LSE
Market Cap: £28.19 m

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