Germany-Based Medical Cannabis Co. Eurox Group Gets $3.55M Investment From FastForward Innovations

Germany-based vertically integrated medical cannabis company Eurox Group has received a €3 million ($3.55 million) investment from FastForward Innovations Ltd (LON: FFWD), an AIM-quoted company focused on fast-growing industries.

Under the agreement, FFWD will hold 8.85% of Eurox, following the issuance of new shares.

The investment not only provides FastForward with direct exposure to the largest medical cannabis market in Europe, which is Germany but also with a footprint in Portugal and the United Kingdom.

FFWD's vice president of investment analysis, Alfredo Pascual, will join the Eurox supervisory board (Aufsichtsrat) in due course.

In conversation with Benzinga, Pascual declared, “Our recent investment in Eurox is a noteworthy example of how FastForward allows investors who hold FFWD shares to have liquid exposure to the burgeoning European cannabinoid wellness and medical cannabis sectors.

“FastForward has a cannabis-specialized team sourcing and selecting appealing investment opportunities, many of which are pre-liquid, and strategically supporting its portfolio companies for growth and success,” he added.

According to Ed McDermott, CEO of FastForward, “This investment is the result of many months of work, and is fully aligned with our comprehensive investment strategy in the European wellness and medical cannabis space, that includes having both liquid and non-liquid assets in our portfolio. This is a meaningful private equity deal and it represents an important addition to FastForward's portfolio of investments in Europe's growing cannabis sector.”