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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