Not for direct or indirect publication or distribution within or in the United States of America, Australia, Canada, or Japan, or any other jurisdiction where such publication or distribution would be unlawful. Please note the important information at the end of this announcement.

‍

Berlin, 12. December 2024 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01, www.cantourage.com), Europe’s leading publicly traded cannabis company, generated monthly sales of approximately EUR 7.2 million in November 2024. This represents a significant increase in revenue of around 30% compared to the previous annual high from the previous month (October 2024: EUR 5.5 million).

Due to recent strong and profitable revenue growth, Cantourage is expected to exceed its annual targets for 2024. The company is therefore raising its full-year forecast for revenue and operating profit (EBITDA). Cantourage now expects revenues of between EUR 46 million and EUR 50 million for the full year 2024 (previously: at least EUR 40 million) and EBITDA in the range of EUR 3 million to EUR 4 million (previously: at least EUR 2 million).

Philip Schetter, CEO of Cantourage, says: "Our recent growth momentum has exceeded our original expectations. In Germany and the UK in particular, demand for our cannabis products has developed even more positively than we had initially anticipated. This is now naturally reflected in our strong business figures for November and is also having an impact on our expectations for the full-year figures. Overall, we see continued strong growth in the European market for medical cannabis, which we are increasingly able to leverage to our advantage."

The two research firms that regularly examine Cantourage's corporate development and prospects in detail are also optimistic about the company's future business performance. In their research updates at the beginning of December, analysts at NuWays and Montega reaffirmed their buy recommendation for Cantourage shares and raised their price targets to EUR 11.50 each (previous NuWays price target: EUR 10.00; previous Montega price target: EUR 11.00). NuWays emphasizes, among other things, that Cantourage is likely to be well positioned to remain at the forefront of this dynamic market. Montega particularly highlights that the sustained strong sales and earnings performance underscores the scalability of the business model.

Commenting on the analysts' assessments, Philip Schetter, CEO of Cantourage, said: "It is of course nice to see that not only we ourselves, but also external experts in corporate analysis are convinced that Cantourage will continue to develop positively. At Cantourage, we attach great importance to the regular assessments of our company by capital market players. In addition to analysts, this naturally includes investors and stock market journalists in particular. In order to maintain regular dialogue with these groups, we recently attended the Eigenkapitalforum in Frankfurt. In this context, we are now particularly looking forward to participating in the Virtual Roundtable with Montega on January 16, 2025. Registration for this event is already open. I am confident that the roundtable will once again provide an exciting opportunity to discuss our promising business opportunities and future growth prospects in the medical cannabis market." Registration for the Virtual Roundtable on January 16, 2025, is available here.

‍

About Cantourage

Cantourage is a leading European company in the production and distribution of cannabis-based medical preparations and pharmaceuticals. The Berlin-based company was founded in 2019 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel, and Patrick Hoffmann. With an experienced management team and its “Fast Track Access” platform, Cantourage enables producers from around the world to become part of the growing European medical cannabis market more quickly, easily, and cost-effectively by processing and distributing their cannabis raw materials and extracts. In doing so, Cantourage always ensures compliance with the highest European pharmaceutical quality standards. The company offers pharmaceutical-grade products in all relevant market segments: dried flowers, extracts, dronabinol, and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on November 11, 2022, and is traded under the ticker symbol “HIGH.”

More informations: www.cantourage.com

‍

This announcement does not constitute a public offering or an advertisement for a public offering for the sale of securities, in particular within the meaning of Regulation (EU) 2017/1129 (Prospectus Regulation).

‍

Press contact at Cantourage:

Manuel Taverne| taverne@cantourage.com