Purchase of further shares in Little Green Pharma

RNS Number : 4011B

FastForward Innovations Limited

10 June 2021

 

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

10 June 2021

FastForward Innovations Ltd

("FastForward", "FFWD" or the "Company")

Purchase of further shares in Little Green Pharma Ltd

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to advise that it has purchased on the Australian Stock Exchange a further 1,178,000 Ordinary Shares in its portfolio company Little Green Pharma Ltd ('LGP') at an average price of A$0.655 per Ordinary Share.  Following the purchase, FFWD has a holding of 2,716,462 Ordinary Shares in LGP representing 2.0% of LGP's issued share capital.

Ed McDermott, CEO at FastForward Innovations, commented: "We continue to be impressed with the management of LGP and believe in their strategy. We will continue to support the company both financially and with our cannabis sector expertise and we are looking forward with confidence to their further growth and progress. "

Alfredo Pascual, Vice President of Investment Analysis at FastForward Innovations, commented:

"We have been extremely pleased with Little Green Pharma's progress of late in what is one of our most recent investments in the medicinal cannabis space. Their latest operational announcement  of an additional purchase order from Germany (see RNS of 28 May 2021) is consistent with the widely reported growth of the German medical cannabis market, which is Europe's largest.

"The purchase order of c.21,300 units represents c.320kg of the flower medicine for delivery during the quarter ending 31 December 2021. When compared to the latest German  official data available  showing the country is now importing just over 3,000kg^* of medical cannabis flower per quarter, with strong double-digit year-on-year growth, it clearly demonstrates that LGP is becoming one of the leading exporters into Germany and crucially shows the increasing global demand for LGP's GMP-grade medicinal cannabis products."

^{*SOURCE: https://www.bfarm.de/SharedDocs/Bilder/zzz/DE/Cannabis/Einfuhren_Cannabisblueten.jpg?__blob=normal&v=5}  

About Little Green Pharma

Little Green Pharma is a vertically integrated medicinal cannabis business with operations from cultivation and production through to manufacturing and distribution.

The company has an indoor cultivation facility and manufacturing facility in Western Australia for the production of its own-branded range of GMP-grade medicinal cannabis products.

Little Green Pharma products comply with all required Therapeutic Goods Administration regulations and testing requirements. With a growing range of products containing differing ratios of active ingredients, Little Green Pharma supplies medical-grade cannabis products to Australian and overseas markets.

The company has a strong focus on patient access in the emerging global medicinal cannabis market and is actively engaged in promoting education and outreach programs, as well as participating in clinical investigations and research projects to develop innovative new delivery systems.

For more information about Little Green Pharma go to: www.littlegreenpharma.com

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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	T: [phone]
Isabel de Salis / Charlotte Hollinshead	St Brides Partners Ltd, Financial PR	Email: [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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