Home / SEED Innovations invests £220,000 in Yooma Wellness

SEED Innovations invests £220,000 in Yooma Wellness

August 6, 2021

Guernsey-based SEED Innovations has invested £220,000 in Yooma Wellness to support potential acquisition targets.

SEED Innovations Limited, which is investing in fast-growing businesses with a focus on medical cannabis, health and wellness, has participated in the latest financing round of $9.7m by its portfolio company, the Canadian-based Yooma Wellness Inc., a vertically-integrated CBD, hemp and wellness platform.

Supporting potential acquisitions

SEED has invested £220,000 ahead of Yooma’s potential listing on the Aquis Stock Exchange (AQSE) Growth Market.

Yooma Wellness has submitted an application for the admission of its common shares to trading on AQSE. The financing is expected to be completed and trading to commence on 10 August 2021, making Yooma’s shares dual-listed on the Canadian Securities Exchange (CSE) and AQSE.

SEED has noted that the investment is conditional upon admission to trading on the AQSE.

CEO of FastForward (SEED), Ed McDermott, said: “We are delighted to support Yooma with this further investment. Yooma continues to go from strength to strength and with the funds now in place which will support their pipeline of potential acquisition targets, I am excited about Yooma’s growth prospects.

“With recent news of their intended dual listing on the AQSE Growth Market we are confident in Yooma’s plans to build a global wellness company. This additional investment will also add to SEED’s expanding exposure to listed cannabis-focused investments and the wellness market. I look forward to providing further updates as it continues its journey.”

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Stephanie Price

Stephanie is a journalist for Business of Cannabis, writing about science, research, policy and industry developments in cannabis, CBD and psychedelics. In 2013 Stephanie gained her BA in English and Media, focusing on journalism and propaganda, where her magazine ‘Game Theory’ focused on developments and disruptors over the coming decade including cannabis, psychedelics, blockchain/crypto and free speech. In 2015 Stephanie received her National Council for the Training of Journalists (NCTJ) diploma whilst working as a reporter in North Wales. Stephanie has a specialism in Medical Cannabis: The Health Effects of THC and CBD through the University of Colorado, and a certificate from the Medical Cannabis Clinicians Society on “Medical Cannabis Explained”.