Shalom18 Feb 2020 07:08
FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, notes the following announcement released on 18 February 2020 concerning investee company EMMAC Life Sciences Limited ("EMMAC"). FastForward has a current equity interest totaling 2.4% in the stock of EMMAC.
The announcement is set out below without material changes or adjustments.
18 February 2020, London. EMMAC Life Sciences Group, Europe's leading independent cannabis company, is pleased to announce it has successfully exported 400 kilograms of medical cannabis to Israel, to the Bazelet Group, the largest medical cannabis company in Israel. The 400 kilograms of dried flower, the largest amount of product imported into Israel to date, was shipped from EMMAC's cultivation facility, Terra Verde, in Portugal, making EMMAC the first independent European company to export medical cannabis to Israel.
Commenting on this milestone, Antonio Costanzo, CEO of EMMAC, said: "EMMAC is very pleased to be the first independent European company to export medical cannabis to Israel through our partnership with Bazelet, supplying the highest-quality product to meet growing patient demand for medical cannabis."
The Bazelet Group is the largest Good Manufacturing Practices ('GMP') processor of medical cannabis in Israel, serving monthly, thousands of patients. Bazelet has years of experience in the pharmaceutical cannabis industry and is constantly developing new products and technologies. Bazelet has filed so far 33 provisional patent applications, of which 12 are in the Patent Cooperation Treaty ('PCT') stage.
Meir Ariel, CEO of the Bazelet Group, said: "We are very pleased to be working with EMMAC. We believe both The Bazelet Group and EMMAC share the same commitment to providing patients with premium, high quality medical cannabis and we look to strengthening our relationship in the years to come."
Commenting on EMMAC's wider strategy, Antonio Costanzo said: "2019 was extremely busy as we executed our strategy to strengthen our position in the European medical cannabis and wellness markets. We are particularly pleased we are now establishing ourselves in the mature Israeli medical cannabis market. Israel represents an important market for us and we look forward to building on this agreement by exporting more product to Israel over the course of 2020 and beyond."