TIDMFFWD
FastForward Innovations Limited
29 April 2021
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
29 April 2021
FastForward Innovations Ltd ("FastForward" or, "FFWD")
Investee Company Update: Yooma Wellness
FastForward Innovations Ltd, the AIM quoted company focusing on
making investments in fast growing and industry leading businesses,
is pleased to announce that Yooma Wellness Inc. ('Yooma'), in which
it holds a 5.1% interest, has announced that its CBD food products
from its MYO Plant Nutrition and Blossom brands have been added to
the U.K. Food Standard Agency's novel foods list. This follows the
news announced on 18 March 2021, that Yooma's MYO Plant Nutrition
brand was being launched in leading UK retailer, Holland &
Barrett.
The announcement is set out below without material changes or
adjustments.
Yooma's MYO Plant Nutrition & Blossom Brands Receive
Validation from
U.K. Food Standards Agency
TORONTO, April 28, 2021 /CNW/ - Yooma Wellness Inc. ("Yooma")
(CSE: YOOM), an emerging marketer and distributor of cannabinoid
and hemp-derived wellness products, is pleased to announce CBD food
products from its MYO Plant Nutrition and Blossom brands have been
added to the U.K. Food Standard Agency's novel foods list.
On February 13th, 2020, the FSA announced it would impose a
deadline of March 31st, 2021 for companies to submit a novel food
authorization application for CBD food products sold in the region.
The process is meant to ensure the items meet legal standards,
including on safety and content. After an initial review, MYO and
Blossom's products have been granted validation to stay on sale in
the U.K. market. Full authorization is expected within 9 months
after a rigorous safety assessment. MYO Plant Nutrition and Blossom
are part of a small number of CBD brands to be granted
approval.
"This approval represents a significant milestone for the MYO
and Blossom brands," commented Lorne Abony, Chairman of Yooma.
"This is a meaningful evolutionary step for MYO and Blossom; one
which creates a significant barrier to market entry."
"We're delighted that the U.K. FSA (Food Standards Agency) has
included in their public list ten products from portfolio brands
MYO Plant Nutrition and Blossom," said James Lawson Baker, Founder
of MYO Plant Nutrition. "The validation cements our position as a
leading and trusted U.K. and European supplier of branded
ingestible CBD products."
MYO Plant Nutrition combines high-quality plant-based
ingredients with carefully selected key active ingredients to form
functional nutrition products including plant proteins,
branched-chain amino acids ("BCAA's"), essential amino acids
("EAA's") and CBD oils. Its plant-based performance nutrition
products are currently carried in the U.K.'s largest health and
wellness retailer, Holland and Barrett. Blossom is a premium
skincare brand that counts ingestible oils and teas as part of its
product mix.
About Yooma Wellness Inc.
Yooma's mission is to build a global leader in the marketing,
distribution, and sale of wellness products including hemp seed oil
and hemp-derived and cannabinoid (CBD) ingredients. The company
leverages strategically curated sales channels and ecommerce
networks to deliver a diverse mix of wellness products through
subsidiaries in China, Japan, and the United States. Yooma has
assembled an international team of multicultural industry
professionals with extensive experience in digital marketing,
ecommerce and social media in the EU, North America, and the
pan-Asian region, with particular depth in the Chinese ecommerce
market. Learn more at www.yooma.ca.
Media Contact:
Ron Wardle
Email: rwardle@yooma.ca
Notice regarding Forward Looking Statements
All information included in this press release, other than
statements of historical fact, constitute forward-looking
information or forward-looking statements within the meaning of
applicable securities laws. Wherever possible, such information or
statements are identified by words such as "expected",
"evolutionary", "intend", "will", "anticipate", "to build" and
other similar expressions. There are many risks and uncertainties
that may affect forward-looking statements including, among others,
the uncertainties, effects of and responses to the COVID-19
pandemic, reliance on licenses, competition, regulation of the CBD
and wellness products industries, changes in laws, regulations and
guidelines, compliance with laws, unfavourable publicity or
consumer perception, product liability, risks related to
intellectual property, product safety and recalls, litigation,
breakdowns in Yooma's relationships with its business partners,
suppliers and distributors, unanticipated changes in the demand for
CBD or wellness products, and other matters which are beyond the
control of Yooma. Although the statements contained herein reflect
management's current beliefs and reasonable assumptions based on
information available to management today, Yooma cannot be certain
that actual results will be consistent with such forward-looking
information. Yooma cautions you not to place undue reliance upon
any such forward-looking statements. Yooma disclaims any intention
or obligation to update or revise any forward-looking statements
except as required by applicable law. Nothing herein should be
construed as either an offer to sell or a solicitation to buy or
sell securities of Yooma.
ENDS
For further information on the Company please visit www.fstfwd.co or contact:
Ed McDermott FastForward Innovations E: info@fstfwd.co
Lance de Jersey Ltd
James Biddle Beaumont Cornish Limited, T: +44 (0)20 7628 3396
Roland Cornish Nomad
-------------------------- -------------------------------
Isabella Pierre Shard Capital Partners T: +44 (0)20 7186 9927
Damon Heath LLP
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Catherine Leftley St Brides Partners E: info@stbridespartners.co.uk
Charlie Hollinshead Ltd,
Financial PR
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Notes
FastForward Innovations is an AIM quoted investment company
focused primarily on disruptive high growth life sciences and
technology businesses particularly within the medical cannabis
arena. The Company's strategy is to identify early-stage
opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of
investee companies to a level where relevant time can be devoted to
each.
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END
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