Cannovum Cannabis AG: Bundestag approves legalization of cannabis in Germany, historic opportunity for the economy, billion-euro potential for sales and growth

EQS-News: Cannovum Cannabis AG / Key word(s): Regulatory Approval/Product Launch
Cannovum Cannabis AG: Bundestag approves legalization of cannabis in Germany, historic opportunity for the economy, billion-euro potential for sales and growth
23.02.2024 / 15:51 CET/CEST
The issuer is solely responsible for the content of this announcement.

Cannovum Cannabis AG (stock exchanges Frankfurt/Xetra, Düsseldorf, Munich, Hamburg, Berlin, gettex: ISIN DE000A37FUP2) informs: In a historic decision, the German Bundestag today passed the Cannabis Act. This will allow the consumption of cannabis in Germany and paves the way for Cannovum Cannabis AG to enter a new growth area. The law is due to come into force on April 1.

The forthcoming law will enable both the cultivation of recreational cannabis by private individuals and cultivation by cannabis clubs on a larger scale. Cannovum Cannabis AG holds a majority stake in the company Anbau-Allianz für Deutschland GmbH, in which leading German agricultural family businesses are organized.

Up to 2.4 million euros turnover per cannabis club.

Great entrepreneurial opportunity: 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 recreational cannabis. We expect several thousand clubs in Germany in the medium term," says Cannovum Cannabis CEO Klaus Madzia.

Anbau-Allianz für Deutschland GmbH will play a leading role in the business with cannabis clubs. The resulting customer relationships with the cannabis clubs will enable the development of the leading premium cannabis brand in Germany. This is an important competitive advantage regarding the expected model regions. In the so-called model regions, the federal government plans to enable the sale of recreational cannabis to adults in retail outlets.

"Together with our partners, we enable existing and newly emerging cannabis clubs to find optimal spaces 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 Cannovum Cannabis AG.

The Cultivation Alliance for Germany GmbH includes Osnabrück University of Applied Sciences, Hortensien Spieker, UN Moorman, Baum Düsseldorf UG, 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.

"With our experience and high-quality standards, we want to help ensure that cannabis clubs in Germany can grow a safe premium product,” says Tim Spieker, owner of Hortensien Spieker and co-founder of the cultivation alliance. Elimar Moormann, owner of Blütenwelt Moormann and co-founder of the Cultivation Alliance, says: “Our many years of experience in cultivation allow us to put together the optimal offers for the cannabis social clubs that are now emerging.”

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

Contact:

Klaus Madzia

CEO

Cannovum Cannabis AG

email: klaus.madzia@cannovum.com

About Cannovum Cannabis AG:

Cannovum AG (www.cannovum.de, www.cannovum.com) is the first 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.

23.02.2024 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.

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