Not for release or distribution, directly or indirectly, in or into the United States of America, Australia, Canada or Japan or any other jurisdiction where such release or distribution would be unlawful. Please see the important notice at the end of this announcement.
Berlin, May 11, 2023 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01), a leading European company for the production and distribution of cannabis-based pharmaceuticals, has, according to preliminary and unaudited figures, achieved a profit of EUR 0.1 million for the first time in the first quarter of 2023 on sales of EUR 4.8 million. Only six months after its listing in the Scale Segment of Deutsche Börse, Cantourage sees itself on the path to long-term profitability, encouraged by its successful recent results. According to preliminary and unaudited figures, 2022 will close with a loss of approximately EUR 2.4 million.
“With the positive first quarter of 2023, we are demonstrating that it is already possible to compete profitably in the medical cannabis market. At such an early stage of our development, this is a satisfactory result. Sales increases and improved purchasing processes and conditions have supported this development,” explains Bernd Fischer, CFO of Cantourage.
“We have achieved a great deal over the last 6 months and have proven that we are growing profitably. There is discontent among some cannabis companies regarding the form of cannabis legalization – but not for us: our business model works completely independently of any legalization of cannabis. The European markets for medical cannabis are still in their infancy. With our business model, we can quickly and successfully open up new, growing sales markets today and in the future – without having to accept high losses,” Philip Schetter, CEO of Cantourage, adds.
About Cantourage
Cantourage is a leading European producer and distributor of cannabis-based medicinal preparations and drugs. The Berlin-based company was founded in 2018 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 faster, easier and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In this context, Cantourage ensures compliance with the highest European pharmaceutical quality standards at all times. The company offers pharmaceutical-grade products in all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on November 11, 2022 and is listed under ticker symbol “HIGH”.
More information: www.cantourage.com
This announcement does not constitute a public offer or an advertisement for a public offer in the meaning of Regulation (EU) 2017/1129 (Prospectus Regulation).
This announcement is not an offer of securities for sale in the United States of America. Securities may not be sold or offered in the United States of America absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”). Any public offering of securities to be made in the United States would be made by means of a prospectus that could be obtained from the Company. This prospectus would contain detailed information about the Company and its management, as well as the Company’s financial information. There will be no public offering of the securities referred to in this announcement in the United States of America.
In the United Kingdom, this information may only be communicated to and is only directed at (i) professional investors in the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) high net worth companies falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to herein as “Relevant Persons”). The Securities are only available to Relevant Persons and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such Securities will only be engaged in with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.
Subject to certain exceptions, the securities referred to in this announcement may not be sold or offered in Australia, Canada or Japan, or to or for the account or benefit of any national, resident or citizen of Australia, Canada or Japan.
Press contact Cantourage:
Frederick Steudemann
M +49 (0)30 4701 350-50
pr@cantourage.com
