FastForward Innovations Limited Investee Company Update: Nuuvera (7794B)
13 January 2018 - 1:23AM
UK Regulatory
TIDMFFWD
RNS Number : 7794B
FastForward Innovations Limited
12 January 2018
12 January 2018
FastForward Innovations Limited
("FastForward"")
Investee Company Update: Nuuvera agrees MOU with the Province of
New Brunswick to supply 2.5 million grams of cannabis and related
products for the province's cannabis market.
FastForward is pleased to note the announcement by investee
company Nuuvera Corp. ("Nuuvera" (TSXV: NUU)), a privately held
company formed to capitalize on the global trend towards the
legalization of medical cannabis, in which FastForward has a
holding of 3.75%, today, that it has entered into a Memorandum of
Understanding ("MOU") with the Province of New Brunswick to supply
2.5 million grams of cannabis and related products for the
province's cannabis market. The Nuuvera announcement reads as
follows:
'Nuuvera Inc. ("Nuuvera") (TSXV:NUU) announced that it has
entered into a Memorandum of Understanding ("MOU") with the
Province of New Brunswick to supply 2.5 million grams of cannabis
and related products for the province's cannabis market.
The MOU sets the groundwork for Nuuvera to supply high-quality
cannabis oil and flower to the province, beginning in July 2018.
Included in the agreement is Nuuvera's commitment to donate
two-percent of the gross value of cannabis products sold to the
government to the Cannabis Education and Awareness Fund.
Lorne Abony, CEO of Nuuvera, said that the MOU signals Nuuvera's
growing participation in Canada's cannabis industry.
"We are pleased to finalise this important MOU with New
Brunswick. Not only is it the result of productive and open
negotiations, but it is an endorsement of the way Nuuvera operates
and what we stand for. We will keep working with the Government of
New Brunswick, and governments across Canada, to help create a
safe, high-quality industry that meets the needs of all cannabis
consumers."
In addition to the MOU, Nuuvera also announced this week that it
would establish a state-of-the-art laboratory in Saint John that
will process, manufacture and distribute pharmaceutical-grade
medical marijuana derivative products. This will be Nuuvera's
second such facility in Canada and will create new, skilled jobs
for the city.
"With offices in Toronto, Tel Aviv, Hamburg, and Milan, we are
positioned to serve diversified international markets with medical
grade cannabis products, and our New Brunswick operations will form
a critical piece of our research and development efforts that will
keep us on the leading edge of product innovation," said
Abony.'
For more information on Nuuvera, please visit:
www.nuuvera.com
About Nuuvera
Nuuvera is a global medical cannabis company founded on Canadian
principles, and built with the whole world in mind. Nuuvera is
currently working with partners in Germany, Israel and Italy, and
is exploring opportunities in several other countries, to develop
commercial production and global distribution of medical grade
cannabis in legalized markets. Through its subsidiaries, ARA -
Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera
holds a Dealer License (GMP) under the Narcotic Control Regulations
and Office of Controlled Substances. Nuuvera is currently in the
final stages of the Health Canada review process to become a
Licensed Producer of medical marijuana under the ACMPR, and has
recently received its "letter to build" approval.
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
Ed McDermott
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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 company news service from the London Stock Exchange
END
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