Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
AIM-quoted firm FastForward Innovations (LON: FFWD) revealed on Monday that it has invested in Eurox Group, a German-based, European vertically integrated medical cannabis company.
FastFoward has invested €3 million and will hold around 8.85% of the company.
FastFoward said the investment provides them with “direct exposure to a company focused on the German medical cannabis market, by far the largest in Europe.”
Eurox has its primary operations in Germany, Portugal, and the UK and is well-positioned in the European medical cannabis market with an exclusive long-term contract and manufacturing agreement for cannabis products with Dr Reckeweg & Co GmbH, an EU GMP certified German pharmaceutical company.
FastForwad's Vice President of investment analysis, Alfredo Pascual, is to join the Eurox supervisory board.
Commenting on the deal, Pascual said, “Eurox has built a strong value proposition, with the capability to develop, get manufactured and sell its own-branded, unique, ‘made in Germany', EU GMP medical cannabis extracts and isolates.
“As a company built from the ground up in Europe and led by a European management team, we see immense potential in Eurox to become the next vertically integrated medical cannabis leader on the continent.
FastForward Innovations share price is currently up 1.53% at 8.28p.
FastForward Innovations shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are FastForward Innovations shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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