Investee Company Update: Yooma Corp.

RNS Number : 2454G

FastForward Innovations Limited

24 November 2020

 

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

24 November 2020

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

Investee Company Update: Yooma Corp.

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to note the update from Yooma Corp. ('Yooma'), in which it holds a 10.65% interest.

Ed McDermott, CEO of FastForward, commented: "As consumers worldwide increasingly look to plant based supplements for their wellness needs, we believe that demand for Hemp and CBD products will continue to escalate; this places Yooma, Asia's first HEMP and CBD Lifestyle company, in a very strong position.  We are therefore delighted to see it utilising its first mover advantage with the launch of several new CBD beauty brands in time for this coming Black Friday, which is a key period for retailers globally.  We look forward to providing further updates regarding Yooma's commercial progress and its proposed merger with TSX quoted Globalive Technology Inc."

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

Yooma launches CBD beauty brands into China on BorderX Lab's cross-border eCommerce "Beyond" app

Yooma is strategically launching clean CBD beauty brands in advance of the upcoming Black Friday and 12.12 China eCommerce events

Yooma Corp, one of Asia's leading hemp and CBD social commerce wellness companies, today announces the launch of clean CBD beauty brands MĀSK Skincare and Lab to Beauty on BorderX Lab's China cross-border eCommerce app, Beyond (bie-yang)

The partnership comes at an opportune time as China's eCommerce market just posted record Singles Day sales numbers boasting 43% growth over 2019 according to Statista. "We are strategically launching with BorderX Lab's cross-border Beyond app in advance of the upcoming Black Friday and 12.12 eCommerce events," said Ron Wardle, Co-CEO Yooma Corp. "Beyond's live-stream commerce and content storytelling capabilities provide an opportunity for Yooma to have a direct connection to our key demographic customers while introducing them to the next generation of clean beauty brands incorporating cannabinoid ingredients."

"We believe that clean beauty is a strategic area of growth for Beyond and we see a tremendous opportunity ahead, as consumers are investing in clean ingredients and beautiful products," said Albert Shen, co-founder and CEO of Beyond. "We're committed to continuing our focus on cross-border eCommerce and are pleased to partner with Yooma Corp. and help launch new premium CBD beauty brands into the Chinese market."

"Beyond represents an incredible opportunity for US brands to access China's booming eCommerce market," said Lorne Abony, President of Yooma Corp. "We recognize the growing demand from Chinese consumers for the latest global beauty trends including new ingredients like hemp and CBD infused into beauty products. Yooma Corp is leading this movement by supporting premium CBD beauty and wellness brands on their Asia journey."

"We are extremely thrilled to be launching into the China market," said Sarah Mirsini, Founder and Creator at MĀSK Skincare. "The Yooma team has led our brand activation, connecting our popular anti-aging, hydrating, and blemish CBD skincare to Chinese key opinion leader influencers to help boost our brand awareness and ingredient benefits to their audience."

"By partnering with Beyond, we will have an additional channel to listen and learn from Chinese consumers and curate the best assortment for them," said Katherine Ragus, co-founder of Lab to Beauty. "We understand the importance of having multiple digital and eCommerce touchpoints to share the Lab to Beauty brand story with the Chinese consumers and provide education on our plant-derived ingredients in our unisex collection of vegan, cruelty-free, CBD-infused products."

About YOOMA CORP.

Yooma is Asia's leading hemp & CBD social commerce wellness company, headquartered in Toronto with offices in Shanghai, Tokyo, and Los Angeles. We have assembled a stellar international team of multi-cultural industry professionals with experience in digital, eCommerce, entertainment, and social media in the fast-growing pan-Asian region with particular depth and expertise in the Chinese eCommerce market.

We develop, incubate and scale the next generation of beauty and wellness brands for Asia, with data-driven digital marketing precision. Through Yooma's multi-channel, multi-platform distribution channels, we utilize best-in-class global partnerships to deliver the benefits of high quality, safe, effective, and compliant hemp & CBD beauty and wellness products to consumers in Asia.

About BorderX Lab Inc.

BorderX Lab is the leading e-commerce platform that brings the US and European merchants to global middle-class shoppers. The global cross-border e-commerce is an annual $900B market and growing rapidly. Our flagship mobile fashion and beauty discovery app Beyond offers authentic products at attractive prices to more than 10 million users. We have direct merchant partnerships and provide a turn-key solution to localization, marketing, payment, logistics, and customer care enabled by technology innovation. BorderX Lab has offices in Silicon Valley and Shanghai.

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]
Isabella Pierre / Damon Heath	Shard Capital Partners LLP, Broker	Tel: [phone]
Isabel De Salis / 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.

 

END

 

 

NRAKXLFLBFLZFBE