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FastForward Innovations invests £0.75m in cannabis firm Emmac
16th Dec 2020 12:35
(Sharecast News) - FastForward Innovations has been issued £0.75m of 12-month convertible loan notes in Emmac Life Sciences Group, it announced on Wednesday, as part of a funding round by Emmac to raise £15m via the issue of unsecured convertible loan notes.
The AIM-traded firm said the Issue saw "strong" support from existing shareholders, with Measure 8 Venture Partners - EMMAC's largest existing cash investor - leading the round with a significant investment.
It said the funds raised through the issue of the notes would enable Emmac to continue to build on its position as one of Europe's largest independent cannabis companies.
Growth in Emmac's key European markets, including the UK, continued to gain momentum, as demand for medical cannabis and related wellness products grew.
"As a European leader in the production and supply of medical cannabis, we are delighted to continue to support Emmac on its journey as it seeks to meet the rapidly growing demands of this exciting market," said FastForward chairman Ian Burns.
"Emmac consistently exceeds our expectations, addressing challenges faced by patients and clinicians and giving more people access to premium quality cannabis-based medicines.
"As an example, just recently, it announced the UK manufacture of its range of premium medical cannabis products, meaning it can now offer a reliable and high-quality product to the UK at a reasonable price point."
At 1105 GMT, shares in FastForward Innovations were up 3.44% at 7.14p.
The AIM-traded firm said the Issue saw "strong" support from existing shareholders, with Measure 8 Venture Partners - EMMAC's largest existing cash investor - leading the round with a significant investment.
It said the funds raised through the issue of the notes would enable Emmac to continue to build on its position as one of Europe's largest independent cannabis companies.
Growth in Emmac's key European markets, including the UK, continued to gain momentum, as demand for medical cannabis and related wellness products grew.
"As a European leader in the production and supply of medical cannabis, we are delighted to continue to support Emmac on its journey as it seeks to meet the rapidly growing demands of this exciting market," said FastForward chairman Ian Burns.
"Emmac consistently exceeds our expectations, addressing challenges faced by patients and clinicians and giving more people access to premium quality cannabis-based medicines.
"As an example, just recently, it announced the UK manufacture of its range of premium medical cannabis products, meaning it can now offer a reliable and high-quality product to the UK at a reasonable price point."
At 1105 GMT, shares in FastForward Innovations were up 3.44% at 7.14p.