SynBiotic SE: “Like winning the lottery” - SynBiotic SE comments on key points paper (“Eckpunktepapier”)

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SynBiotic SE: “Like winning the lottery” - SynBiotic SE comments on key points paper (“Eckpunktepapier”)
26.10.2022 / 13:58 CET/CEST
The issuer is solely responsible for the content of this announcement.

“Like winning the lottery”

SynBiotic SE comments on key points paper (“Eckpunktepapier”)

October 26, 2022: At today's federal press conference on the upcoming cannabis legalization, the final draft of the key points paper (“Eckpunktepapier”) of the federal government was presented. Among other points, concrete plans relating to the cultivation and distribution of cannabis were presented and further plans were described with regards to the legal hurdles in the legislative process. Regarding the individual points and their respective design, SynBiotic SE sees enormous potential for the various companies in the group and is optimistic about future developments.

CEO of SynBiotic SE Lars Müller says the following: “For us, the key points paper and the outstanding regulations presented are like winning the lottery. I'm glad that our decades of pioneering work is slowly paying off and that we were able to anticipate developments very well. Our corporate structure and our subsidiary companies specializing in the various uses of cannabis, put us in a real pole position. We are optimally positioned on almost all points of the draft and will use this advantage to play a key role in supporting the legalization in Germany as a leading provider.”

SynBiotic SE also explicitly welcomes the rapid and punctual developments in legislation for the planned legalization of cannabis. Regarding the resolutions of the final key points paper, the group sees itself optimally positioned for the most part. In particular, SynBiotic SE is positioned excellently for the planned controlled sale via licensed dealers due to the cooperation with the Enchilada Group.

As one of the largest representatives of the German cannabis industry, SynBiotic SE is aware of its responsibility as a reliable manufacturer and distributor of cannabis-containing products and underlines the need for modern regulations tailored to the safe consumption of cannabis as well as the urgently required legal certainty for all stakeholders.

Concerning the planned import ban and the domestic cultivation in Germany, the group criticizes the lack of clear regulations on supply chains. Based on current knowledge, this will cause a significant supply bottleneck, which cannot be compensated with domestic cultivation for the time being. Against this background, SynBiotic SE is optimally prepared with HANF FARM, a company belonging to the group and specializing in the industrial cultivation of hemp, with over 20 years of experience and a cultivation capacity of up to 1,000 hectares. However, the group would like to emphasize the clear need to expand the existing infrastructure. Most importantly, as the domestic production of inexpensive, high-quality cannabis is only economically viable on open fields, due to the enormous rise in energy costs.

Overall, SynBiotic SE classifies the key points paper presented today as an important proposal that is well-developed concerning the majority of the points it addresses, including the details. Looking at the further legal hurdles, Lars Müller comments on the planned legislative process as follows: “I consider the presented procedure for legislative development to be the right way to proceed. Before the federal government passes a law that does not have full legal certainty on the part of the EU and its member states or international law, all stakeholders should be brought on board and a common basis for decision-making needs to be found. Regarding Germany’s pioneering role, cannabis legalization must not become a second ‘toll debacle’.”

www.synbiotic.com

26.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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