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RNS - Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of April 1, 2024, positive growth opportunities in Europe's largest consumer market

Company: Cannovum Cannabis AG Date: 2024-03-22 Language: English Register to download

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 News Details

Corporate | 22 March 2024 11:45

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Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of April 1, 2024, positive growth opportunities in Europe’s largest consumer market

EQS-News: Cannovum Cannabis AG / Key word(s): Expansion/Expansion  

Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of April 1, 2024, positive growth opportunities in Europe's largest consumer market  

22.03.2024 / 11:45 CET/CEST  

The issuer is solely responsible for the content of this announcement.  

**Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of April 1, 2024, positive growth opportunities in Europe’s largest consumer market**

Cannovum Cannabis AG (stock exchanges Frankfurt/Xetra, Düsseldorf, Munich, Hamburg, Berlin, gettex: ISIN DE000A37FUP2) welcomes the legalization of cannabis in Germany confirmed today by the Federal Council. The Cannabis Act will thus come into force on April 1, 2024 and creates legal certainty for companies and consumers. This will provide new impetus for a billion-euro market in Europe’s largest economy in the coming years. With a variety of offers and services, Cannovum Cannabis AG intends to generate significant sales in the area of recreational cannabis and create significant added value for shareholders and the company.

In addition, the aforementioned “Pillar 2” of the Cannabis Act, announced by the Federal Ministry of Health, will soon address commercial supply chains as well as trade, distribution, packaging and advertising in model regions. “As a company, we see ourselves in an excellent position to benefit from these developments. We are already setting the course to seize the opportunities arising from these legal changes,” says Klaus Madzia, CEO of Cannovum Cannabis AG

Extended legalization is expected to usher in a new era of consumer access and market expansion in the legal recreational sector. Cannovum Cannabis AG intends to expand its presence in various segments of the market. “In addition, we want to ensure efficiency and compliance, and adapt our marketing strategies to position our brand n as a leader in the legal cannabis sector,” says Klaus Madzia.

Cannovum Cannabis AG plans to generate significant sales through offers for existing and emerging cannabis clubs. Here, the company is positioning itself at the forefront of the market through a unique partnership with large horticultural and agricultural companies in Germany. This partnership, realized by the subsidiary Anbau-Allianz für Deutschland GmbH, enables the clubs to cultivate cannabis on more than 16.5 hectares of greenhouse space, 100 hectares of open land and 2,000 hectares of agricultural land throughout Germany.

This innovative service allows cannabis clubs to grow high-quality cannabis safely and in compliance with legal requirements without a large initial investment. With a potential annual turnover of 2.1 million euros per club and an expected increase in the number of clubs in the coming years, Cannovum Cannabis AG sees enormous market and growth potential. The cultivation alliance also has strong partnerships with leading organizations and companies, which strengthens the company’s position as a market leader and offers investors an exceptional opportunity to participate in the growth of the German cannabis market and create sustainable value.

Partners of Anbau-Allianz für Deutschland GmbH include Osnabrück University of Applied Sciences, the horticultural companies Hortensien Spieker, UN Moorman, Baum Düsseldorf UG, Janßen Group, Blumen Rieke and Cox Gartenbau, as well as the innovative growth optimizer Spex AI, Gartenbauversicherung Deutschland VVaG, the international analytics company Wessling, the market leader for biological plant protection Koppert and the supplier of ecological plant pots Pottburri.

The adopted law also provides for comprehensive amendments to the Narcotics Act (BtMG), criminal law, pharmaceutical law and road traffic law. Due to the deletion of cannabis and THC from the BtMG, a restructuring of medical cannabis law is necessary. Experts expect a significant increase in demand due to the easier prescription practice by doctors.With its investment in Cannovum Health eG, Cannovum Cannabis AG is also benefiting from the imminent growth in the medical cannabis sector. Statista estimates the market potential in this area at more than 360 million euros for the year 2024.

  

  

Further information can be found at: www.cannovum.de

Contact:

Klaus Madzia

Board of Directors

Cannovum Cannabis AG

email: klaus.madzia@cannovum.com ;

Tel: +49 178 5811701

About Cannovum Cannabis AG:

Cannovum AG (www.cannovum.de, www.cannovum.com) is the first German cannabis company to be traded on the stock exchange. The shares are traded on the Frankfurt/Xetra, Düsseldorf, Munich, Berlin, Hamburg and gettex stock exchanges.

  

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22.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.  

The issuer is solely responsible for the content of this announcement.  

  

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Archive at www.eqs-news.com  

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|     |     |
| --- | --- |
| Language: | English |
| Company: | Cannovum Cannabis AG |
|     | Stresemannstrasse 23 |
|     | 10963 Berlin |
|     | Germany |
| Phone: | 0178 5811701 |
| E-mail: | klaus.madzia@cannovum.com |
| Internet: | www.cannovum.com |
| ISIN: | DE000A37FUP2 |
| WKN: | A37FUP |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Hamburg, Munich, Tradegate Exchange |
| EQS News ID: | 1865543 |

  

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| End of News | EQS News Service |

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