FastForward Innovations Ltd - investor in life sciences and technology businesses particularly within the medical cannabis field - Confirms it has sold its entire holdings in medical cannabis firms Kanabo Group PLC and Cellular Goods PLC, both of which recently listed on the London Main Market. FastForward says it booked a total gross profit of GBP194,414, with GBP139,852 from Kanabo and GBP54,563 from Cellular Goods. "Whilst we were disappointed to be heavily scaled back due to both placings being oversubscribed, we are delighted to have made such significant returns on our investments in Kanabo and Cellular Goods in a short timeframe," FastForward Chief Executive Officer Ed McDermott says. Kanabo listed last month via a reverse takeover of Spinnaker Opportunities PLC, together with a GBP6 million share placing. Cellular Goods conducted an initial public offering, also last month, raising GBP13 million.
Current stock price: 8.94 pence, down 6.9% Thursday
Year-to-date change: up 3.8%
By Tom Waite; thomaslwaite@alliancenews.com
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