Investee Company Update: Nuuvera

RNS Number : 9672F

FastForward Innovations Limited

26 February 2018

 

26^th February 2018

FastForward Innovations Limited

("FastForward"")

Investee Company Update: Nuuvera Agreement with Verve Dynamics to guarantee Nuuvera access to high quality, low cost GMP cannabis extracts 

 

FastForward is pleased to note the announcement by investee company Nuuvera Corp. ("Nuuvera" (TSXV: NUU), a public company formed to capitalize on the global trend towards the legalization of medical cannabis, in which FastForward has a holding of 3.4%. Nuuvera Inc. ("Nuuvera") (TSXV:NUU) announced today that it has signed an offtake agreement with Verve Dynamics Incorporated ("Verve"), a licensed cannabis grower in the Kingdom of Lesotho.

Verve holds a license to grow and produce cannabis products in the Kingdom of Lesotho, the first African nation to regulate the cultivation and production of cannabis products. Under the Agreement, Nuuvera will have access to approximately 3,000 kg of purified GMP THC and CBD extract per year, with the ability to increase that amount, should global demand warrant.

"The offtake agreement with Verve is very exciting," said Lorne Abony, CEO of Nuuvera. "Nuuvera will be the first Canadian company to have access to high quality, low cost cannabis produced in the African continent."

The transaction is subject to the approval of the TSX Venture Exchange. 

Jim Mellon, Chairman of FastForward Innovations, said

"Further exciting news for Nuuvera gives us yet more faith in the ever expanding Medical Cannabis sector. Nuuvera being the first Canadian company to have such a deal in Africa is excellent news and the board of FFWD is most happy with our position in Nuuvera"

For more information on Nuuvera, please visit: www.nuuvera.com 

About Nuuvera

Nuuvera is a global medical cannabis company founded on Canadian principles, and built with the whole world in mind. Nuuvera is currently working with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. Through its subsidiaries, ARA - Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the Narcotic Control Regulations and Office of Controlled Substances. Nuuvera is currently in the final stages of the Health Canada review process to become a Licensed Producer of medical marijuana under the ACMPR, and has recently received its "letter to build" approval.

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

FastForward  Innovations Limited [e-mail]   Ed McDermott/ Sue Saunders/ Ian Burns

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

Optiva Securities Limited (Broker) Tel: [phone] Graeme Dickson

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 recognizable 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. FastForward Innovations assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

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

 

END

 

 

MSCUNVVRWBAUUAR