DanCann Pharma A/S: Chairman of the board and management subscribes for units in the ongoing IPO
DENMARK, October 9, 2020 – DanCann Pharma A/S (” DanCann Pharma” or the “Company”) is currently carrying out a new issue of units prior to the listing of the Company's shares and warrants on the Spotlight Stock Market. As previously communicated in the prospectus, the board members Per Wester and Carsten Trads have announced that they have undertaken subscription commitment agreements for units in the new issue. DanCann Pharma’s Chairman of the Board, Magnus Østergaard Dahlmann, Chief Commercial Officer, John Morell Frellsen (who works for the Company as a consultant and is thereby not part of the Company’s registered executive management) and Chief Financial Officer, Mads Møller Kristensen (’’the Subscribers’’) are also subscribing for units in the ongoing listing issue.
Provided that units are allotted to the Subscribers in the listing issue, the Subscribers have agreed to sign a lock-up agreement for 12 months after the first day of trading at Spotlight Stock Market Denmark.
John Morell Frellsen, CCO, comments:” I am thrilled by the journey that DanCann Pharma is about to launch, and I am genuinely happy to be part of the team. I have no doubt that the market for medical cannabis will increase dramatically in the years to come, and to be part of a patient-centric company like DanCann Pharma is really exciting. We think the patient first in everything we do and in every product that we will launch. I know we will make a difference, and that is why I am investing in DanCann Pharma”
DanCann Pharma's subscription period will run until October 23rd, 2020. The preliminary date for listing on the Spotlight Stock Market is November 12th, 2020.
Compilation of subscriptions from the board and management
In total, the subscriptions from the board and management in the IPO amount to 687 442.5 DKK and are distributed according to the table below.
| Name | Amount (DKK) | Units |
| John Morell Frellsen* | 265 005 | 11 778 |
| Per Wester** | 198 675 | 8 830 |
| Magnus Østergaard Dahlmann*** | 101 250 | 4 500 |
| Carsten Trads**** | 100 012.5 | 4 445 |
| Mads Møller Kristensen***** | 22 500 | 1 000 |
| Total: | 687 442.5 | 30 553 |
*John Morell Frellsen, CCO (as a consultant), subscribes for units through both a company and privately.
**Per Wester, board member, is a shareholder and has previously announced a subscription commitment which is also stated in the prospectus.
***Magnus Østergaard Dahlmann, Chairman of the board.
****Carsten Trads, board member, has previously announced a subscription commitment through the company C-plus Consult and which is also stated in the prospectus.
*****Mads Møller Kristensen, CFO.
For additional information regarding the issue of units, please contact: Corpura Fondkommission AB. E-mail: info@corpura.se
For further information, please contact:
Jeppe Krog Rasmussen, CEO
Telephone: +45 2963 6920
E-mail: jkr@dancann.com
Website: www.dancann.com
About DanCann Pharma
DanCann Pharma was founded in 2018 and is a Danish pharmaceutical biotechnology company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed cultivation and distribution company based in Denmark. The company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas.