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.
- Medical cannabis no longer to be classified as a narcotic drug (BtM)
- Unchanged high quality requirements for import, production and distribution of medical cannabis
- Abolition of BtM status enables easier handling of cannabis medicines
Berlin, July 13th, 2023 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01), a leading European company for the production and distribution of medical cannabis, welcomes the draft bill recently presented by the German Federal Ministry of Health on the new “Cannabis Act” (CanG). The CanG builds on the current “Medicinal Cannabis Act” (MedCanG) and is aimed at enabling the controlled use of cannabis as well as significantly improving health care.
The proposed bill distinguishes between cannabis for medical, scientific and non-medical purposes. Despite the planned easier dispensing of medical cannabis by doctors and pharmacies, the high quality requirements for importation, production, distribution and related licenses and permits would remain unchanged.
“If implemented as it stands, the bill would greatly facilitate and thereby improve access to medical cannabis. At the same time, the high quality requirements for manufacturing and distribution would continue to apply,” said Philip Schetter, CEO of Cantourage. “Our ability to manufacture high quality medical cannabis products under these stringent quality requirements puts us in an excellent position to meet the expected higher demand. Our platform, along with our extensive partner network, puts us in a strong position to capitalize on such market changes and further establish cannabis from pharmacies.”
Medical cannabis has been prescribed throughout Germany for several years, but the classification of cannabis as a narcotic has made access difficult. The expansion of MedCanG would remove this barrier and pave the way for cannabis to be prescribed through a simple prescription.
“The proposed amendment would be an important step towards improving patient care,” commented Bernd Fischer, CFO of Cantourage. “We expect that this would lead to significantly more patients and especially physicians considering cannabis as an alternative medicine for a wide range of indications.”
Cantourage is a leading European producer and distributor of cannabis-based medicinal preparations and drugs. 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 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:
M +49 (0)30 4701 350-50