26 January 2021 Investee Company Update: Yooma Corp.
FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to confirm the merger of Yooma Corp. ('Yooma'), in which it holds a 10.65% interest, and Globalive Technology (TSX-V: LIVE) ('Globalive') has been approved at a special meeting of its shareholders.
Following completion of the merger, which remains subject to Canadian regulatory approval, FFWD will hold 4,007,165 shares in Globalive representing 8.95% of the enlarged issued share capital.
Ed McDermott, CEO of FastForward, commented: "We are delighted that the merger between Yooma and Globalive has been approved. To see a liquidity event for our holding in Yooma within less than a year from our investment is a great result and one we hope can be replicated across other portfolio companies over the next 12 months. We are very excited to see the combined forces of Globalive and Yooma continue to expand their business plan as a public company and the resulting value that this could bring to FastForward as a shareholder."