DanCann Pharma A/S: Exciting developments in Germany regarding legalization of cannabis

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COPENHAGEN, Denmark, October 27, 2022 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the “Company”), a Danish company powered by cannabinoids, hereby comment on the legislation progress in Germany regarding the legalization of cannabis for recreational purposes.

On Wednesday, the German Minister of Health Karl Lauterbach presented a bill concerning the future legalization of cannabis under controlled conditions. The bill intends to put an end to the extensive illegal market. The German legislation deals exclusively with cannabis for recreational use but is expected to have a knock-on effect on all branches of the cannabis sector in Europe.

According to an immediate assessment by Fortune Business, the value of the global illegal cannabis market is the equivalent of DKK 130 billion. The German government estimates that the state can earn EUR 4.7 billion (approximately DKK 35 billion) annually from legalization, and the combination of financial gain and the fight against crime are, according to the proponents of legalization, the most important parameters.

The German bill contains proposals for the decriminalization of cannabis and its use, and it will be permitted for anyone over the age of 18 to possess 20-30 grams of cannabis for personal use. A ceiling on the content of THC, which was in the first draft of the bill, has been deleted in the current proposal, as the German health authorities considered that this would be difficult to administer.

Jeppe Krog Rasmussen, CEO of DanCann Pharma, comments:

- Germany is often a pioneer country for new initiatives, which are subsequently widely spread to the rest of the continent. It is also a clear expectation that this will happen in the cannabis area, and that Germany can play a decisive role and start a domino effect for the rest of Europe in connection with the legalization of cannabis. We are convinced that the general focus on cannabis will also have a knock-on effect on the demand for medical cannabis.

Jeppe Krog Rasmussen elaborates:

- During the last year, both we and other manufacturers have noticed a significantly greater interest among the many patients who hope for easier and cheaper access to the products. We therefore need to have trained many more of the general practitioners, so that they become more confident in offering patients treatment with medical cannabis. We must be better at informing about forms of treatment, effects and side effects, and we must put a lot of effort into this for the sake of the patients.

About DanCann Pharma

DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical Company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed production 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.

DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen.

For more information, visit: www.dancann.com  

For further information, please contact:

Jeppe Krog Rasmussen, CEO

E-mail: jkr@dancann.com  

Website: www.dancann.com  


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