FastForward Innovations Ltd (LON:FFWD) said its holding in Yooma Wellness stands at 8.95% after Yooma completed a reverse takeover of Globalive Technology.
The AIM-quoted company, which invests in fast-growing and industry-leading businesses, said its stake before the reverse takeover was 10.65%.
Yooma Wellness will begin trading on the Canadian Securities Exchange today. Yooma Wellness intends to leverage the success and experience of its senior management to build Yooma Wellness's business into a global leader in the marketing, distribution and sale of wellness products including hemp seed oil and hemp-derived and cannabinoid (CBD) products through a strategically curated network of sales channels.
"As the first of four investee companies gearing up for a liquidity event, we are delighted with this conclusion and are confident that the listing will pave Yooma's way towards strengthening its global footprint,” said Ed McDermott, the chief executive officer of FastForward.
“We continue to monitor and work with our other investee companies, with the aim of achieving similar outcomes in other investments,” he added.
Shares in FastForward were 15% higher at 11.55p.