The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFFWD.L Regulatory News (FFWD)

  • There is currently no data for FFWD

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sale of Aphria Shares

11 Jun 2018 09:53

RNS Number : 9577Q
FastForward Innovations Limited
11 June 2018
 

11 June 2018

 

FastForward Innovations Limited

("FastForward"")

Sale of Aphria Shares

 

The Company is pleased to announce that it has now completed the sale of all of its shares in Aphria Inc.. Including cash received as part of the sale of Nuuvera Inc. to Aphria (see 29 January 2018 announcement), the Company realised gross cash proceeds of approximately C$14.4 million. The Company now holds no shares in Aphiria Inc. The sales were completed ahead of legislation in Canada to legalise recreational marijuana use and sales.

 

Commenting on the sale of the Company's shares in Aphria, Jim Mellon, Chairman of FastForward noted: "We are pleased to announce a crystallised gain of approximately C$11.4 million some 14 months after the Company's initial investment in Nuuvera which was subsequently acquired by Aphria in March 2018. This is a great example of FFWDs investment strategy delivering significant return from early stage entry and effective exit strategies. While we very much believe in the Medical Cannabis industry, we now understand Aphria is due to enter the recreational market which impedes our ability to continue to hold shares (due to restrictions as a Guernsey incorporated and regulated company with shares listed on a stock exchange in the UK). We continue to assess viable early stage investments in the medical cannabis space. On behalf of shareholders the board would like to thank Lorne Abony for delivering an excellent opportunity and the significant return of value."

 

 

For further information please visit www.fstfwd.co or contact:

FastForward Innovations Limited info@fstfwd.co

Sue Saunders/ Ian Burns

Beaumont Cornish Limited (Nomad) Tel: +44 (0) 207 628 3396

James Biddle / Roland Cornish

Optiva Securities Limited (Broker) Tel: +44 (0) 203 411 1881

Jeremy King

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of FastForward Innovations Ltd. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. FastForward Innovations assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DISFBMPTMBABMBP
Date   Source Headline
25th Jul 200712:02 pmRNSNotice of AGM
24th Jul 20071:23 pmRNSDirectorate Change
18th Jun 20077:57 amRNSAcquisition
7th Jun 20071:18 pmRNSInvestee Company update
5th Jun 200711:35 amRNSInvestee Company update
29th May 20079:14 amRNSDevotion Sale and Award
29th May 20077:02 amRNSHolding(s) in Company
21st May 20078:35 amRNSHolding(s) in Company
17th May 20077:01 amRNSHolding(s) in Company
15th May 200710:39 amRNSHolding(s) in Company
20th Apr 20077:01 amRNSHolding(s) in Company
16th Apr 200711:52 amRNSHolding(s) in Company
22nd Mar 20079:06 amRNSHolding(s) in Company
20th Mar 20077:00 amRNSHolding(s) in Company
13th Mar 20077:01 amRNSInvestee Company update
22nd Feb 20079:42 amRNSHolding(s) in Company
14th Feb 200711:36 amRNSNew Investment
12th Feb 20077:00 amRNSInvestee Company update
6th Feb 200711:02 amRNSInvestee Company update
2nd Feb 20074:15 pmRNSCompany Secretary Change
29th Jan 20071:31 pmRNSHolding(s) in Company
23rd Jan 20077:00 amRNSAcquisition
22nd Jan 20077:01 amRNSAcquisition
17th Jan 20077:00 amRNSAcquisition
11th Jan 20077:00 amRNSInvestee Company update
22nd Dec 20069:26 amRNSInterim Results
13th Dec 200610:30 amRNSTotal Voting Rights
27th Nov 20067:00 amRNSAcquisition
23rd Nov 20067:01 amRNSAcquisition
17th Nov 20067:00 amRNSAcquisition
17th Oct 20067:00 amRNSAcquisition
21st Sep 200610:05 amRNSTwo New Investments
6th Sep 20067:30 amRNSTrading Update
7th Jul 20064:21 pmRNSDirectorate Change
30th Jun 20067:01 amRNSAcquisition
26th Jun 20064:46 pmRNSHolding(s) in Company
11th May 20067:03 amRNSAcquisition
28th Mar 200611:43 amRNSDirector/PDMR Shareholding
15th Mar 20068:22 amRNSPE Fund Admitted to AIM
15th Mar 20068:22 amRNSResult of Equity Issue

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.