Investee Company Update: EMMAC enters new Market

RNS Number : 9437E

FastForward Innovations Limited

09 July 2019

 

9 July 2019

FastForward Innovations Ltd

("FastForward" or, "FFWD")

Investee Company Update: EMMAC reaches agreement to enter Italian Market

The Board of AIM-traded FastForward Innovations Limited, trading under the symbol FFWD notes the following announcement released on 9 July 2019 concerning investee company EMMAC Life Sciences Limited ("EMMAC"). FastForward has a current equity interest totaling 2.6% in the stock of EMMAC.

The announcement is set out below without material changes or adjustments.

EMMAC Life Sciences Ltd

("EMMAC" or the "Company")

Agreement with Farmalabor gives EMMAC immediate access to Italy,

Europe's second-largest Medical Cannabis Market

9 July 2019, London. EMMAC Life Sciences Ltd, the European independent medical cannabis company, is pleased to announce that it has formed a 50/50 joint venture company, Fontana S.R.L. ("Fontana JVCo"), with Sergio Fontana, the founder and major shareholder of Farmalabor S.R.L. ("Farmalabor"), one of Italy's most active licensed importers and distributors of medical cannabis.  Fontana S.R.L. has already submitted applications for licenses to import, store, manufacture and distribute medical cannabis products in Italy, which is the second-largest medical cannabis market in Europe.  Pending the grant of such licences, Fontana JVCo will work with Farmalabor as its exclusive partner to commercialise medical cannabis and wellness products as well as commence operations and sales in Italy.

The partnership positions Fontana S.R.L. as Farmalabor's dedicated cannabis partner.  Fontana JVCo combines Farmalabor's existing medical cannabis sales and operations, pharmacy network and expertise within Italy with EMMAC's industry expertise and integrated supply chain for cultivation and manufacturing.  The partnership agreement with Farmalabor will provide Fontana JVCo with sales services, including distribution to 12,000 pharmacies.  It is expected Fontana JVCo has the potential to rapidly establish itself as the largest supplier of medical cannabis and wellness products in Italy.

Antonio Costanzo, CEO of EMMAC, commented: "We are delighted to announce this joint venture with Farmalabor which puts EMMAC in a fantastic position for expansion into the Italian market and extends our licensed medical cannabis and wellness operations beyond the UK, Spain and Germany.  We believe that Farmalabor's extensive experience of the Italian pharmaceutical industry makes it the ideal partner to unlock the full potential of this local market."

Sergio Fontana, Founder and CEO of Farmalabor, commented: "Speaking on behalf of everyone at Farmalabor, I am delighted to partner with EMMAC on this project.  With our extensive knowledge of the medical and pharmaceutical communities combined with EMMAC's cannabis expertise and range of high-quality medical and wellness products under development, this is the perfect combination to serve Italian patients, doctors and pharmacies with high-quality products."

About EMMAC

EMMAC is the European medical cannabis company, working to join together the latest science and research with cutting-edge cultivation, extraction and production.  With supply and distribution partnerships throughout Europe, EMMAC is working to establish itself as both a thought leader in the industry, as well as the European leader in the production and supply of medical cannabis, hemp and other derivative products.

Miscellaneous

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information on FastForward and its investments please visit www.fstfwd.co or contact:

FastForward Innovations Limited [e-mail] Lance De Jersey/Guerhardt Lamprecht

Beaumont Cornish Limited (Nomad) [phone] James Biddle/ Roland Cornish

Optiva Securities Limited (Broker) [phone] Graham Dickson

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

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 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.

 

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