SOURCE: FastFunds Financial Corp.

July 08, 2014 10:00 ET

FastFunds Financial Corporation and Subsidiary Cannabis Angel, Inc. Announce the Formation of The 420 Development Corporation and Have Initiated Acquisition Talks With Revenue Producing Companies That Support the Development of the Cannabis Industry

WEST PALM BEACH, FL--(Marketwired - July 08, 2014) - FastFunds Financial Corporation ("FastFunds" or the "Company") (PINKSHEETS: FFFC) and its wholly-owned subsidiary, Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and projects, are pleased to announce the formation of The 420 Development Corporation. This newly formed entity will focus exclusively on the acquisition of operational companies that support the development of the ever-expanding cannabis industry. 

Management of the Company has identified several prospective acquisition opportunities. Extensive due-diligence of all candidates has been initiated. These opportunities consist of digital media, staffing and security focused companies, all of which will contribute to the future development of the cannabis industry. 

The goal of this new entity is to create an industry specific conglomerate of operational companies that cater to providing the cannabis industry with the necessary support services and ancillary operational infrastructure for a developing market. 

Along with Cannabis Angel, Inc., an existing wholly-owned subsidiary of FastFunds, The 420 Development Corporation will seek to identify acquisition candidates within the industry that will add significant shareholder value once completed. The 420 Development Corporation is currently structured as a wholly-owned subsidiary of FastFunds with the intent of spinning-out this new entity as a standalone public company that will be financed separately, thereby maximizing shareholder value without additional dilution. Shareholders will be alerted as to additional developments pertaining to these matters once legal and regulatory aspects of each transaction are complete. 

The legalization of marijuana has created an industry that is leading up to a valuation of over $100 billion by 2019. The 420 Development Corporation will focus its efforts on building ownership of a portfolio of operational companies, with a preference towards candidates that generate revenues from their existing business models. These companies, when brought together, will each act as integral parts by servicing key operational requirements of businesses competing within the cannabis sector. 

Henry Fong, President of FastFunds Financial Corporation and Cannabis Angel, Inc. states: "We are very pleased to be initiating the formation of The 420 Development Corporation. The candidates that we are currently pursuing would add long-term value to the Company and secure its position within the industry. Working towards finalizing these acquisitions will allow us to maximize shareholder value by eliminating the necessity of future toxic financings and dilution."

Shareholders of the Company can expect to receive additional updates as to these developments in the coming weeks.

About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Pink Sheets exchange, under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement its current services and products, to enhance its technical capabilities and to offer growth opportunities to its stockholders. The Company recently announced the formation of Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and related ventures. Most recently, the Company developed and launched GreenEnergyMedia.TV. This new website acts as an interactive social media hub that caters exclusively to providing the medical and recreational marijuana communities with access to several hundred news and social media feeds in real-time. 

This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

  • For Further Information Please Contact:
    FastFunds Financial Corporation & Cannabis Angel, Inc.
    Mr. Henry Fong
    Chairman and Chief Executive Officer
    Phone: (561) 514-9042