FastForward Innovations Limited Investee Company Update: Nuuvera Inc. (8171I)
March 23 2018 - 10:35AM
UK Regulatory
TIDMFFWD
RNS Number : 8171I
FastForward Innovations Limited
23 March 2018
23 March 2018
FastForward Innovations Limited
("FastForward"")
Investee Company Update: NUUVERA INC.
COMPLETION OF PLAN OF ARRANGEMENT WITH APHIRA INC.
FastForward notes the announcement today by investee company
Nuuvera Inc. ("Nuuvera" (TSXV: NUU)), a public company formed to
capitalize on the global trend towards the legalisation of medical
cannabis, in which FastForward currently has a holding of 3 million
shares or 3.4%. The announcement is set out below without material
changes or adjustments:
LEAMINGTON and TORONTO, ON , March 23, 2018 /CNW/ - Aphria Inc.
("Aphria") (TSX:APH and US OTC: APHQF) and Nuuvera Inc. ("Nuuvera")
(NUU.V) are pleased to announce that they have completed the
previously announced arrangement (the "Arrangement") under the
provisions of the Business Corporations Act ( Ontario ), pursuant
to which, among other things, Aphria has acquired all of the common
shares of Nuuvera (the "Nuuvera Shares") not already owned by
it.
Under the terms of the Arrangement, each former Nuuvera
shareholder is now entitled to receive $0.62 in cash, rather than
$0.60 , as previously announced, plus 0.3546 of a common share of
Aphria, for each Nuuvera Share held prior to the Arrangement (the
"Consideration"). The increase in the cash consideration is a
result of Nuuvera's cash on hand exceeding the Restricted Cash
Amount (as defined in the Arrangement Agreement Amending Agreement
dated February 19 , 2018).
It is anticipated that the Nuuvera Shares will be delisted from
the TSX Venture Exchange as of the close of trading on or about
March 26, 2018 and Nuuvera intends to submit an application to the
applicable securities regulators to cease to be a reporting issuer
and to terminate its public reporting obligations.
Pursuant to the letter of transmittal mailed to Nuuvera
shareholders as part of the material in connection with the special
meeting of Nuuvera shareholders held on March 20, 2018 (the
"Meeting"), in order to receive the Consideration to which they are
entitled, registered holders of Nuuvera Shares will be required to
deposit their share certificate(s) representing Nuuvera Shares,
together with the duly completed letter of transmittal, with TSX
Trust Company, the depositary under the Arrangement. Shareholders
whose Nuuvera Shares are registered in the name of a broker,
dealer, bank, trust company or other nominee should contact their
nominee with questions regarding the receipt of the
Consideration.
Further information about the Arrangement is set forth in the
materials prepared by Nuuvera in respect of the Meeting which were
mailed to Nuuvera shareholders and filed under Nuuvera's profile on
the System for Electronic Document Analysis and Retrieval (SEDAR)
at www.sedar.com.
About Aphria
Aphria, one of Canada's lowest-cost medical cannabis producers,
produces, supplies and sells medical cannabis. Located in
Leamington, Ontario , the greenhouse capital of Canada , Aphria is
truly powered by sunlight, allowing for the most natural growing
conditions available. Aphria is committed to providing pharma-grade
medical cannabis, superior patient care while balancing patient
economics and returns to shareholders.
For more information about Aphria, please visit
www.aphria.ca
About Nuuvera
Nuuvera is a global 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 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 more information about Nuuvera, please visit:
www.nuuvera.com
CONTACTS:
FastForward Innovations Limited info@fstfwd.co
Ed McDermott/ 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
Graham Dickson
------------------------------------------------------------
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 information is provided by RNS
The company news service from the London Stock Exchange
END
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