Investee Update: EMMAC Life Sciences & Yooma Corp.

RNS Number : 2988M

FastForward Innovations Limited

20 January 2021

 

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

20 January 2021

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

Investee Company Update: EMMAC Life Sciences and Yooma Corp.

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, notes the following announcement released today concerning investee company EMMAC Life Sciences ('EMMAC') and Yooma Corp. ('Yooma'). FastForward has a 2.3% interest in the issued stock of EMMAC and a 10.65% interest in the issued stock of Yooma.

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

EMMAC LIFE SCIENCES GROUP AND YOOMA CORP.

ENTER INTO LICENSING AGREEMENT FOR EMMAC WELLNESS BRANDS

Partnership to accelerate growth and drive new market entry, with a focus on Asia

London (UK), and Toronto (Canada), January 20, 2021 - EMMAC Life Sciences Group ("EMMAC" or the "Group"), Europe's largest independent cannabis company and Yooma Corp. ("Yooma"), one of Asia's leading CBD and wellness social commerce companies, today announce they have entered into a licensing agreement whereby Yooma will license EMMAC's wellness brands, including Blossom, MYO, Hello Joya and What the Hemp (the "EMMAC Brands").  Under the terms of the Agreement, Yooma will have exclusive rights for the distribution and sale of the EMMAC Brands in China, Japan, Taiwan and Australia as well as non-exclusive distribution rights in certain other global markets.

Blossom produces premium quality CBD skincare and wellness products, currently sold through various on-line channels in Europe and select retailers in the United Kingdom.  MYO Plant Nutrition combines high-quality plant ingredients with cannabinoids and other active ingredients to produce performance-enhancing nutritional supplements in 100% compostable recyclable packaging.  What The Hemp and Hello Joya are both plant-based hemp snack brands currently sold through select retail partners in France with What The Hemp also being available in certain stores in the UK.

Yooma intends to integrate the EMMAC Brands into its existing sales channels in Asia, including cross-border ecommerce in China on various Alibaba platforms.

Ron Wardle, CEO of Yooma, said: "We are really excited to license these premium brands from EMMAC. The nutraceutical products will serve as an entry point for Yooma into this new product category, and exclusive licensing of Blossom will facilitate the opening of a TMall flagship store.  Furthermore, we expect that the licensing model will result in improved unit economics for Yooma."

Antonio Costanzo, CEO of EMMAC, said: "We are very pleased to be partnering with Yooma. Their expertise in CBD Lifestyle brands as well as their established footprint in Asia will bring immediate scale and expertise to our exciting portfolio of wellness brands. We look forward to seeing increased momentum in product sales in new and emerging markets, as well as building momentum in Europe."

- Ends -

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/ .

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

About YOOMA CORP.

Through its wholly-owned subsidiary, EDA and subsidiaries based in China, Japan and the United States, Yooma intends to leverage the success and experience of its senior management to build Yooma's business into one of Asia's leading cannabinoid (CBD) and wellness products social commerce companies through the distribution and sale of CBD beauty and skincare and other wellness products via a strategically curated network of sales channels. Yooma has assembled a strong international team of multicultural industry professionals with extensive experience in digital marketing, ecommerce and social media in the pan-Asian region with particular depth in the Chinese ecommerce market. For more information, please visit www.yooma.ca  

Media Contact :
Yooma Corp.
Ron Wardle
Email: [e-mail]  

Notice regarding Forward Looking Statements

All information included in this press release, including any information as to the future financial or operating performance and other statements of Yooma that express management's expectations or estimates of future performance, other than statements of historical fact, constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date hereof. Forward-looking statements are included for the purpose of providing information about management's current expectations and plans relating to the future. Wherever possible, words such as "plans", "expects", "scheduled", "trends", "forecasts", "future", "indications", "potential", "estimates", "predicts", "anticipate", "to establish", "believe", "intend", "ability to", or statements that certain actions, events or results "may", "should", "could", "would", "might", "will", or are "likely" to be taken, occur or be achieved, or the negative of these words or other variations thereof, have been used to identify such forward-looking information. Specific forward-looking statements include, without limitation, all disclosure regarding future results of operations, economic conditions and anticipated courses of action, including any intended uses of the EMMAC Brands in Yooma's operations, Yooma's expansion into new product categories, any intention of Yooma to open a Tmall flagship store and any improvements in Yooma's unit economics.

There are many risks and uncertainties that may affect forward-looking statements including,  among others,  regulatory risk in each jurisdiction in which Yooma does or intends to operate, the uncertainties, effects of and responses to the COVID-19 pandemic, reliance on licenses, competition, dependence on senior management and key personnel, general business risk and liability, regulation of the CBD industry, changes in laws, regulations and guidelines, compliance with laws, limited operating history, unfavourable publicity or consumer perception, product liability, risks related to intellectual property, product recalls, difficulties with forecasts, management of growth and litigation, many of which are beyond the control of Yooma. Although the forward-looking statements contained herein reflect management's current beliefs and reasonable assumptions based upon information available to management as of the date hereof, 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 whether as a result of new information, future events or otherwise, 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.

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	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.

 

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