FastForward Innovations Ltd (LON:FFWD) has invested £175,000 in the research-led cannabis healthcare company, CiiTECH Limited.
The AIM-listed investor in fast-growing businesses participated in CiiTech’s fundraising, which saw the company issue £2.1mln of 10% convertible loan notes ahead of its planned reverse takeover of Fragrant Prosperity Holdings Limited (LON:FPP).
"CiiTECH is an established company with an outstanding reputation as a consumer-facing brand-builder while being dedicated to medical cannabis research. We are delighted to have made this investment alongside other professional and ultra-high-net-worth investors, again broadening our exposure to the cannabis and wellness industry,” said Ed McDermott, chief executive officer of FastForward.
"CiiTECH has a diverse portfolio of healthcare brands each producing quality medical cannabis products to fit the ever-expanding market demand for them.
“We look forward to supporting CiiTECH with its aggressive growth as it advances towards a London listing," he added.