Investee Company Update: Yooma Wellness

RNS Number : 9649W

FastForward Innovations Limited

29 April 2021

 

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

29 April 2021

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

Investee Company Update: Yooma Wellness

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to announce that Yooma Wellness Inc. ('Yooma'), in which it holds a 5.1% interest, has announced that its CBD food products from its MYO Plant Nutrition and Blossom brands have been added to the U.K. Food Standard Agency's novel foods list.  This follows the news announced on 18 March 2021, that Yooma's MYO Plant Nutrition brand was being launched in leading UK retailer, Holland & Barrett.

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

Yooma's MYO Plant Nutrition & Blossom Brands Receive Validation from

U.K. Food Standards Agency

TORONTO, April 28, 2021 /CNW/ - Yooma Wellness Inc. ("Yooma") (CSE: YOOM), an emerging marketer and distributor of cannabinoid and hemp-derived wellness products, is pleased to announce CBD food products from its MYO Plant Nutrition and Blossom brands have been added to the U.K. Food Standard Agency's novel foods list.

On February 13th, 2020, the FSA announced it would impose a deadline of March 31st, 2021 for companies to submit a novel food authorization application for CBD food products sold in the region. The process is meant to ensure the items meet legal standards, including on safety and content. After an initial review, MYO and Blossom's products have been granted validation to stay on sale in the U.K. market.  Full authorization is expected within 9 months after a rigorous safety assessment.  MYO Plant Nutrition and Blossom are part of a small number of CBD brands to be granted approval.

"This approval represents a significant milestone for the MYO and Blossom brands," commented Lorne Abony, Chairman of Yooma.  "This is a meaningful evolutionary step for MYO and Blossom; one which creates a significant barrier to market entry."

"We're delighted that the U.K. FSA (Food Standards Agency) has included in their public list ten products from portfolio brands MYO Plant Nutrition and Blossom," said James Lawson Baker, Founder of MYO Plant Nutrition. "The validation cements our position as a leading and trusted U.K. and European supplier of branded ingestible CBD products."

MYO Plant Nutrition combines high-quality plant-based ingredients with carefully selected key active ingredients to form functional nutrition products including plant proteins, branched-chain amino acids ("BCAA's"), essential amino acids ("EAA's") and CBD oils. Its plant-based performance nutrition products are currently carried in the U.K.'s largest health and wellness retailer, Holland and Barrett. Blossom is a premium skincare brand that counts ingestible oils and teas as part of its product mix.

About Yooma Wellness Inc.

Yooma's mission is to build a global leader in the marketing, distribution, and sale of wellness products including hemp seed oil and hemp-derived and cannabinoid (CBD) ingredients. The company leverages strategically curated sales channels and ecommerce networks to deliver a diverse mix of wellness products through subsidiaries in China, Japan, and the United States. Yooma has assembled an international team of multicultural industry professionals with extensive experience in digital marketing, ecommerce and social media in the EU, North America, and the pan-Asian region, with particular depth in the Chinese ecommerce market. Learn more at www.yooma.ca.

Media Contact:

Ron Wardle

Email: [e-mail]

Notice regarding Forward Looking Statements

All information included in this press release, other than statements of historical fact, constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws. Wherever possible, such information or statements are identified by words such as "expected", "evolutionary", "intend", "will", "anticipate", "to build" and other similar expressions.  There are many risks and uncertainties that may affect forward-looking statements including, among others, the uncertainties, effects of and responses to the COVID-19 pandemic, reliance on licenses, competition,  regulation of the CBD and wellness products industries, changes in laws, regulations and guidelines, compliance with laws, unfavourable publicity or consumer perception, product liability, risks related to intellectual property, product safety and recalls, litigation, breakdowns in Yooma's relationships with its business partners, suppliers and distributors, unanticipated changes in the demand for CBD or wellness products,  and other matters which are beyond the control of Yooma. Although the statements contained herein reflect management's current beliefs and reasonable assumptions based on information available to management today, Yooma cannot be certain that actual results will be consistent with such forward-looking information. Yooma cautions you not to place undue reliance upon any such forward-looking statements. Yooma disclaims any intention or obligation to update or revise any forward-looking statements except as required by applicable law. Nothing herein should be construed as either an offer to sell or a solicitation to buy or sell securities of Yooma.

ENDS

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

Ed McDermott Lance de Jersey	FastForward Innovations Ltd	E: [e-mail]
James Biddle Roland Cornish	Beaumont Cornish Limited, Nomad	T: [phone]
Isabella Pierre Damon Heath	Shard Capital Partners LLP	T: [phone]
Catherine Leftley Charlie Hollinshead	St Brides Partners Ltd, Financial PR	E: [e-mail]

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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