Investee Company Update: EMMAC Life Sciences

RNS Number : 3741W

FastForward Innovations Limited

18 August 2020

 

FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments

18 August 2020

FastForward Innovations Ltd ("FastForward" or, "FFWD")

Investee Company Update: EMMAC Life Sciences

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to note the following announcement released today concerning investee company EMMAC Life Sciences ('EMMAC'). FastForward has a 2.3% interest in the issued stock of EMMAC.

Ed McDermott, CEO of FastForward, commented:   "I am delighted to deliver another positive update from EMMAC as it continues to cement its position as Europe's leading independent medical cannabis and wellness company. Switzerland was an early adopter of cannabinoid wellness and has further embraced plant based prescription medicine, with EMMAC's robust supply chain it is therefore fitting that the company increases its capabilities in country. I look forward to being able to provide further updates on EMMAC's continued growth in Europe and beyond."

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

EMMAC Life Sciences Group

("EMMAC" or the "Group" or the "Company")

EMMAC Life Sciences Group Secures GDP licence for Swiss pharmaceutical entity, EMMAC SAGL

Approved to import, distribute and export medicinal products for domestic, EU and international markets

18 August 2020, London. EMMAC Life Sciences Group ("EMMAC" or the "Group" or the "Company"), Europe's largest independent cannabis company, is pleased to announce that EMMAC SAGL, the Group's pharmaceutical entity in  Switzerland, has secured its Good Distribution Practice ("GDP") licence for the distribution of medicinal products. EMMAC now has the ability to import, distribute and export medicinal products, including medical cannabis, for the domestic Swiss, EU and international markets. 

EMMAC currently holds multiple research, cultivation and GMP licences across its vertically integrated business in Europe, which is experiencing increasing demand for premium-quality medical cannabis products. The European medical cannabis market is predicted to be worth in excess of $8 billion by 2023.¹

Antonio Costanzo, CEO of EMMAC, said: "This is another important milestone for EMMAC and one that positions us well to meet the requirements of the domestic Swiss market as regulation evolves, and caters to the growing demand from international markets for high-quality medical cannabis. We continue to execute at pace, realising our vision of establishing EMMAC as Europe's largest independent cannabis company, and shaping the future of medical cannabis."

On 22 July 2020, EMMAC announced the Company had signed a non-binding letter of intent related to a business combination with Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, and ANDAU) ("Andina"), pursuant to which EMMAC would become a publicly traded company on the NASDAQ Stock Exchange with EMMAC's shareholders rolling over all of their equity in EMMAC into the combined public company. As consideration for the transaction, it is anticipated that the current EMMAC shareholders would collectively own a majority of the equity of the combined public company.

1  Source: Brightfield Group - European CBD and Cannabis Market 2019 Report & Canaccord (2018) + Cowen Data for U.S. CBD Market Applied to Europe (2023)

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About EMMAC Life Sciences Group

EMMAC Life Sciences Group is Europe's largest 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 more information about EMMAC, please visit https://www.emmac.com/  

Contact:

For scientific enquiries please contact [e-mail]

For general enquiries please contact [e-mail] or visit www.emmac.co m  

CAUTIONARY STATEMENT

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 EMMAC Life Sciences Group. 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. EMMAC Life Sciences Group assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

ENDS

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

Ed McDermott / Lance de Jersey	FastForward Innovations Ltd	Email: [e-mail]
James Biddle / Roland Cornish	Beaumont Cornish Limited, Nomad	Tel: [phone]
Jeremy King	Optiva Securities Limited, Broker	Tel: [phone]
Susie Geliher / Beth Melluish	St Brides Partners Ltd, Financial PR	Tel: [phone]

Notes

FastForward Innovations is an AIM quoted investment company focused primarily on disruptive high growth life sciences and technology businesses particularly within the medical cannabis arena. The Company's strategy is to identify early stage opportunities that have an upcoming investment catalyst and grow its portfolio in terms of value whilst limiting the number of investee companies to a level where relevant time can be devoted to each.

 

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