Cannovum Cannabis AG: April 2024 starts the legalization of cannabis in Germany, enormous potential for sales and growth

EQS-News: Cannovum Cannabis AG / Key word(s): Forecast/Expansion
Cannovum Cannabis AG: April 2024 starts the legalization of cannabis in Germany, enormous potential for sales and growth
02.02.2024 / 09:37 CET/CEST
The issuer is solely responsible for the content of this announcement.

Cannovum Cannabis AG: April 2024 starts the legalization of cannabis in Germany, enormous potential for sales and growth

Cannovum Cannabis AG (stock exchanges Frankfurt/Xetra, Düsseldorf, Munich, Hamburg, Berlin, gettex: ISIN DE000A37FUP2) welcomes the upcoming legalization of cannabis and considers itself well positioned. According to consistent media reports in ZEIT, dpa and Berliner Morgenpost, the governing coalition of SPD, Greens and FDP has agreed on details for the legalization of cannabis. The law is to come into force on April 1.

The forthcoming law allows both the cultivation of recreational cannabis by private individuals and cultivation by cannabis clubs in Germany. Cannovum Cannabis AG holds a majority stake in the company Anbau-Allianz für Deutschland GmbH, in which leading German family-owned agricultural companies are organized. 

"With our partners, we enable cannabis clubs to find optimal areas and other services for their cultivation in many regions of Germany. This is complemented by the capital and many years of expertise of our partners," says Klaus Madzia, CEO of Cannabis Cannabis AG. The Cultivation Alliance for Germany GmbH includes Osnabrück University of Applied Sciences, Hortensien Spieker, UN Moorman, Spex AI, Blumen Rieke, Gartenbauversicherung Deutschland VVaG, the international analytics company Wessling, the market leader for biological plant protection Koppert, Cox Gartenbau and the pot supplier Pottburri.

The growth and sales potential of legalization for Cannovum Cannabis AG is enormous. "According to our calculations, a single club in Germany can generate up to 2.4 million euros per year with cannabis. We expect there to be several thousand clubs in Germany in the medium term," says Klaus Madzia.

The current version of the forthcoming 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

Phone +49 178 5811701

klaus.madzia@cannovum.com

About Cannovum Cannabis AG:

Cannovum AG (www.cannovum.de, www.cannovum.com) is the first fully licensed German cannabis company to be listed on the stock exchange. The shares are traded on the Frankfurt/Xetra, Düsseldorf, Munich, Berlin, Hamburg and gettex stock exchanges. Cannovum Cannabis AG is ready and well prepared for the legalization of cannabis.

02.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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