• Following its successful private placement, Cantourage plans to list in the Scale segment on the Frankfurt Stock Exchange
  • First trading day is scheduled for 11 November 2022
  • Company has achieved high double-digit valuation as part of the placement

Cantourage Group SE (“Cantourage”), a European medical cannabis leader, announced today that it is seeking a listing on the Scale segment of the Frankfurt Stock Exchange on 11 November 2022. Following the listing, approximately 15% of the company's shares, a total of nearly two million bearer shares, will be made available in free float on the open market of the Frankfurt Stock Exchange. Following the previously completed private placement, Cantourage will now be valued in the high double-digit million-euro range.

Philip Schetter, CEO of Cantourage, says: "Having already achieved revenues of over EUR 5 million in 2021, we are aiming to triple this amount in 2022, especially through Cantourage's organic growth - and we are continuing to act in a strong growth market. We are happy about the successful private placement and the upcoming listing of our company. It is time to democratise the market for medicinal cannabis in Germany and offer investors the opportunity to participate early on."

According to the German Ministry of Health, in 2021 Germany had the most patient demand for medical cannabis in Europe. More than 20 tons of cannabis for medical purposes have already been imported to Germany this year [1]. Future national demand can only be met through further imports.

With the capital raised from the private placement, Cantourage plans to systematically expand its production capacities, enter new markets and prepare for the upcoming legalisation of recreational cannabis in various European countries. The capital market listing provides Cantourage with new avenues for both organic and inorganic growth within the dynamic medical cannabis market.

Founded in 2019 by Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann, Cantourage distributes medicinal cannabis flowers, Dronabinol, cannabis extracts and pharmaceutical CBD across Europe and the UK. Cantourage’s platform also enables the import of cannabis into Germany from across the world, for it to then be locally processed into pharmaceutical products and to be distributed to doctors and pharmaceutical wholesalers throughout Europe.

Currently, Cantourage maintains 38 partnerships with suppliers from 17 countries across 5 continents, thereby offering a broad and diversified range of products. In the Dronabinol segment, Cantourage has a market share of over 20% in Germany, driven in part by product innovations such as the launch of the first Dronabinol solution [2]. Since the beginning of Q2/2022, Cantourage has also been operating its own cannabis clinic in the UK. The company currently employs over 35 employees in Germany and the UK.

The European market for medical cannabis targeted by Cantourage is estimated to grow to €3 billion by 2025 [3], while the size of potential markets in which cannabis could be sold for recreational use is significantly larger. In Germany alone, this market is estimated to be almost 20 times larger than the medical cannabis market [4].

Hauck Aufhäuser Investment Banking advised the company as its exclusive financial advisor and listing agent.

About Cantourage
Cantourage is a leading European medical cannabis company. The Berlin-based company was founded in 2019 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffman. Cantourage enables producers from all over the world to become part of the rapidly growing European medical cannabis market in a faster and more cost-effective way, while guaranteeing and developing the highest European quality standards. The company offers products in all relevant market segments: dried flowers, extracts, Dronabinol and pharma-grade Cannabidiol.

Contact for media enquiries:
Roland Leithäuser
Kekst CNC
M +49 162 2074 592
T +49 69 506 037 571

This announcement does not constitute a public offer or an advertisement for a public offer within 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 U.S. 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 within 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.


[1] Source: Prohibition Partners, The European Cannabis Report, 7th Edition, https://www.bfarm.de/DE/Bundesopiumstelle/News/Cannabis/medizinalcannabis-importmengen.html;jsessionid=E83ACD8FFC3AD9C156FD8550139FEFDC.intranet262

[2] Evaluation of Insight Health data from June to August 2022

[3] Prohibition Partners, The European Cannabis Report, 6th Edition, Cantourage Analysis

[4] Düsseldorf Institute for Competition Economics (DICE) 2021, Fiskalische Auswirkungen einer Cannabislegalisierung in Deutschland: Ein Update, https://www.dice.hhu.de/fileadmin/redaktion/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/DICE/Bilder/Nachrichten_und_Meldungen/Fiskalische_Effekte_Cannabislegalisierung_final.pdf