Cannovum AG Focus on Recreational Cannabis and Change of Name to Cannovum Cannabis AG

EQS-News: Cannovum Cannabis AG / Key word(s): Strategic Company Decision/Miscellaneous
Cannovum AG Focus on Recreational Cannabis and Change of Name to Cannovum Cannabis AG
25.04.2023 / 11:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Cannovum AG Focus on Recreational Cannabis and Change of Name to Cannovum Cannabis AG

Cannovum AG (Frankfurt, Xetra, Düsseldorf, Munich, Hamburg, Berlin, Tradegate, gettex: ISIN DE000A2LQU21) is focusing on the upcoming cannabis legalization. In this context, Cannovum AG changed its name to Cannovum Cannabis AG. This documents the company's steady growth and clear focus on the cannabis industry. In addition, the upcoming legalization of cannabis has enormous growth potential for the company. Only recently, the German federal government has shown its roadmap (cannabis clubs, pilot projects) for this process.

Cannovum Cannabis AG continues to strive to offer the best solutions and innovations in the field of medical cannabis, while in parallel intensively preparing and positioning itself for the legalization of cannabis as a stimulant in Germany.

The main reasons for the renaming are:

1. clear market positioning: the name change underlines the company's clear focus on the cannabis industry and clarifies the positioning of Cannovum Cannabis AG as one of the leading players in this sector.

2. better recognition: the new name reflects the company's business focus and will help to improve recognition among investors, customers, and partners.

3. future-oriented vision: Cannovum Cannabis AG sees itself as a future-oriented company that is always adapting to the changing needs of the industry. In both the medical and stimulant markets, the company is a driving innovative force that promotes developments.

Pia Marten, Co-Founder and CEO of Cannovum Cannabis AG, commented, “The renaming of our company is an important step to highlight our strong focus on the cannabis industry and our vision for the future. We are proud to already be a leader in the medical cannabis market and soon to be in the stimulant market as well. We are confident that our new name will further strengthen our position in the market.”

Contact:

Klaus Madzia, IR & PR, Cannovum Cannabis AG

Phone +49 30 3982 163 62, klaus.madzia@cannovum.com

Cannovum Cannabis AG is the first German fully licensed cannabis company listed on the stock exchange. The shares are traded on the stock exchanges in Frankfurt/Xetra, in Düsseldorf, Munich, Berlin, Hamburg, Tradegate and gettex. Cannovum Cannabis AG is ready for the legalization of cannabis and well prepared for both sales through pharmacies and through licensed specialty stores and online shipping.

Through its subsidiary Cannovum Health eG, it is a fully licensed pharmaceutical wholesaler, importer and manufacturer of high-quality medical cannabis products based in Berlin. Already today, Cannovum AG is a market leader in the medical cannabis sector.

Currently, the company works on the importation of high-quality cannabinoid precursors, medical-scientific education and nationwide distribution for simplified and equitable access to cannabis-based therapies.

25.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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