Corporate | 26 February 2025 21:05

Cannovum Cannabis AG: Liquidation and sale of investments in the cannabis sector

Cannovum Cannabis AG / Key word(s): Strategic Company Decision/Miscellaneous
Cannovum Cannabis AG: Liquidation and sale of investments in the cannabis sector

26.02.2025 / 21:05 CET/CEST
The issuer is solely responsible for the content of this announcement.

Cannovum Cannabis AG: Liquidation and sale of investments in the cannabis sector

Cannovum Cannabis AG:Cannovum Cannabis AG (stock exchanges Frankfurt, Xetra, Düsseldorf, Munich, Hamburg, Berlin, Tradegate, gettex: ISIN DE000A2LQU21) started 2019 with the aim of playing a significant role in the market for legal recreational cannabis in Germany.

Unfortunately, political decision-makers in Germany have not yet been able to bring themselves to fully legalize recreational cannabis as in other countries. Due to the associated uncertainty about future developments, it is to be feared, especially after the Bundestag elections, that small steps already taken towards the legalization of recreational cannabis could be frozen or even reversed. The implementation of the strategy pursued by Cannovum is therefore a distant prospect. This also affects the investments of Cannovum Cannabis AG.

The shareholders of Anbau-Allianz für Deutschland GmbH, in which Cannovum Cannabis AG holds a majority stake, have therefore decided to initiate the liquidation of this company.  Regarding the remaining medical cannabis investment in Cannovum Health eG, a sale is being sought in the first half of the year.

The Management Board will therefore propose to the company’s Annual General Meeting, which is expected to take place in August, that references to cannabis be removed from the company name by way of a name change.

Contact:

Investor relations

Cannovum AG

ir@cannovum.com

26.02.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group.
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Language:	English
Company:	Cannovum Cannabis AG
	Stresemannstrasse 23
	10963 Berlin
	Germany
Phone:	0178 5811701
E-mail:	klaus.madzia@cannovum.com
Internet:	www.cannovum.com
ISIN:	DE000A37FUP2
WKN:	A37FUP
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Hamburg, Munich, Tradegate Exchange
EQS News ID:	2092223

End of News EQS News Service

2092223  26.02.2025 CET/CEST