RE: RNS31 Mar 2020 14:16
RNS Number : 2504I
FastForward Innovations Limited
31 March 2020
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments
31 March 2020
FastForward Innovations Ltd ("FastForward" or, "FFWD")
Investee Company Update: EMMAC Life Sciences Limited
FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, notes the following announcement released on 31 March 2020 concerning investee company EMMAC Life Sciences Limited ("EMMAC"). FastForward has a current equity interest totalling 2.3% in the stock of EMMAC.
Overview
· EMMAC has secured pharmaceutical wholesaler and narcotics handling permits for Germany, Europe's largest medical cannabis market
· Permits will enable EMMAC to drive immediate revenue growth in Germany with the sale of medical cannabis products
· EMMAC has a range of medical cannabis products, with different strengths and THC/CBD/CBG formulations in Oil and Flos1 formats, to address a wide range of specialist requirements
The announcement is set out below without material changes or adjustments.
31 March 2020, London. EMMAC Life Sciences Group, Europe's leading independent cannabis company, is pleased to announce that its wholly owned subsidiary, About Nature Health GmbH ("About Nature"), has secured pharmaceutical wholesaler and narcotics handling permits for Germany, Europe's largest medical cannabis market. The permits, granted according to section 52a AMG (German Pharmaceutical Law) and section 3 BMG (German Narcotics Law), will enable EMMAC to drive immediate revenue growth in Germany with the sale of medical cannabis products. EMMAC has a range of medical cannabis products, with different strengths and THC/CBD/CBG formulations in Oil and Flos1 formats, to address a wide range of specialist requirements.
According to the Bank of Montreal2, the German medical cannabis market could potentially produce more than US$5 billion in revenue for global cannabis producers, with an assumption that in seven years 7.5% of sleep, anxiety and pain prescriptions in Germany will be replaced with medical cannabis.
Antonio Costanzo, CEO of EMMAC, said: "The announcement today is an important milestone for EMMAC, and demonstrates the EU GDP compliant quality management systems About Nature has in place. EMMAC is now poised to deliver immediate revenues from Germany and capitalise on the significant opportunities presented by the largest medical cannabis market in Europe, as we bring our products to market in 2020."
1 Dried female cannabis flower
2 https://business.financialpost.com/cannabis/cannabis-producers-could-be-chasing-global-market-worth-194-billion-in-seven-years-bmo-report
About EMMAC Life Sciences Group
EMMAC Life Sciences Group is Europe's leading independent cannabis company, bringing together pioneering science and research with cutting-