30-May-2023
Cantourage Group SE: Research update confirms positive development of Cantourage shares and changes valuation recommendation to “Buy”
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EQS-News: Cantourage Group SE
/ Key word(s): Rating
Cantourage Group SE: Research update confirms positive development of Cantourage shares and changes valuation recommendation to “Buy” Berlin, May 30, 2023 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01), a leading European company for the production and distribution of cannabis-based pharmaceuticals, has received a positive rating in NuWays AG’s research update. In the update, the valuation recommendation for Cantourage shares was changed from “Hold” to “Buy,” while the target price has remained unchanged at EUR 12. Hence, NuWays AG’s research update confirms Cantourage’s potential and positive development. “We are pleased with the changed valuation recommendation. It confirms our success to date and demonstrates confidence in our business strategy. We firmly believe that we have further growth potential thanks to our unique positioning in the medical cannabis market,” commented Philip Schetter, CEO of Cantourage. “The revised valuation recommendation reflects the positive first quarter of 2023, in which we generated profit for the first time. Of our 50 partner cultivators on our Fast Track Access platform, we have now been able to bring cannabis medicines to market from 13 partners since Cantourage’s inception. More will follow this year. With this progress, we believe we are on the path to long-term profitability,” added Bernd Fischer, CFO of Cantourage. About Cantourage Cantourage is a leading European producer and distributor of cannabis-based medicinal preparations and drugs. The Berlin-based company was founded in 2018 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann. With an experienced management team and its “Fast Track Access” platform, Cantourage enables producers from around the world to become part of the growing European medical cannabis market faster, easier and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In this context, Cantourage ensures compliance with the highest European pharmaceutical quality standards at all times. The company offers pharmaceutical-grade products in all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on November 11, 2022 and is listed under ticker symbol “HIGH”. More information: www.cantourage.com This announcement does not constitute a public offer or an advertisement for a public offer in the meaning of Regulation (EU) 2017/1129 (Prospectus Regulation). This announcement is not an offer of securities for sale in the United States of America. Securities may not be sold or offered in the United States of America absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”). Any public offering of securities to be made in the United States would be made by means of a prospectus that could be obtained from the Company. This prospectus would contain detailed information about the Company and its management, as well as the Company’s financial information. There will be no public offering of the securities referred to in this announcement in the United States of America. In the United Kingdom, this information may only be communicated to and is only directed at (i) professional investors in the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) high net worth companies falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to herein as “Relevant Persons”). The Securities are only available to Relevant Persons and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such Securities will only be engaged in with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents. Subject to certain exceptions, the securities referred to in this announcement may not be sold or offered in Australia, Canada or Japan, or to or for the account or benefit of any national, resident or citizen of Australia, Canada or Japan. Press contact Cantourage: Frederick Steudemann M +49 (0)30 4701 350-50 pr@cantourage.com
30.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Cantourage Group SE |
| Feurigstraße 54 | |
| 10827 Berlin | |
| Germany | |
| E-mail: | info@cantourage.com |
| Internet: | https://www.cantourage.com/ |
| ISIN: | DE000A3DSV01 |
| WKN: | A3DSV0 |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Scale), Munich, Tradegate Exchange |
| EQS News ID: | 1644231 |
| End of News | EQS News Service |
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Last Updated: 30-May-2023
