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2022-01-17

DanCann Pharma A/S Announces Exercise of Warrants for Proceeds of DKK approx. DKK 9.3 million to Strengthen the Financial Position

COPENHAGEN, Denmark, 17 January 2022 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the "Company"), a Danish company powered by cannabinoids, hereby announce that the Company and 18 of its warrant-holders have exercised a total of 1,917,271 warrants issued pursuant to the terms set out in Schedules 6.5.1 and 7.1 of the Articles of Association.

The warrant holders have exercised a total of 1,917,271 warrants issued pursuant to the terms set out in Schedules 6.5.1 and 7.1 of the Articles of Association. These warrants are exercised based on an agreement between DanCann Pharma and the warrant holders to exercise a total of 1 917 271 warrants early in accordance with clause 5.3 of the warrant terms. Because of the exercise of these warrants, a total of 1,917,271 new shares in DanCann Pharma will be issued to the effect that the total amount of shares in DanCann Pharma will be 28,468,289. The new shares issued make up approx. 6.7% of the total amount of shares in DanCann Pharma (post-transaction). Following the exercise of warrants, the share capital of DanCann Pharma is DKK 1,067,561 nominal value. The warrants were exercised at an exercise price of DKK 4.8685 per warrant equivalent to a total subscription amount of DKK 9,334,233.94. The scheme was concluded at a board meeting Monday morning, 08:00 CET/Copenhagen, 17 January 2022. A total of 1 992 467 of the warrants issued pursuant to the terms set out in Schedules 6.5.1 and 7.1 remain unexercised.

The proceeds received by DanCann Pharma from the exercise of the warrants will be used to execute the Company's ongoing development and operations towards its milestones in 2022, where the commercial production capacity is key to going forward when entering the European and German market. In addition, DanCann Pharma will use the proceeds for further business development and to support the ongoing post-integration of CannGros into the Company's corporate setup.

CEO, Jeppe Krog Rasmussen, comments:

We saw an excellent opportunity to strengthen our financial position by pre-exercising the warrants. The proceeds allow us to implement our plans with peace of mind in 2022 and keep our focus on the milestones that await us, for example, our EU-GMP certification of Biotech Pharm1 which is expected in mid-2022 and later the commercial breakthrough. I want to take the opportunity to thank our strong investor community and the great trust once again. I also want to highlight the strong support from the whole board of directors that keeps on investing in DanCann Pharma, which shows great confidence in our project.

Disclaimer

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements are subject to several risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this presentation are made as of the date of this presentation and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

This disclosure contains information that DanCann Pharma A/S is obliged to publish in accordance with the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20 October 2021.

About DanCann Pharma

DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed production and distribution company based in Denmark. The Company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas.

DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen.
For more information, visit: www.dancann.com

For further information, please contact:

Jeppe Krog Rasmussen, CEO
E-mail: jkr@dancann.com
Website: www.dancann.com

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