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2021-12-30

DanCann Pharma A/S: Germanys intention to legalize cannabis is a gamechanger for Europe

COPENHAGEN, Denmark, 30 December 2021 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the "Company"), a Danish company powered by cannabinoids, hereby communicate and comment on the intention from the new government of Germany to legalize controlled sales of cannabis for adults for recreational purposes. The German government estimates that the state can earn 4.7 billion euros (approximately DKK 35 billion) annually on a legalization.

The value of the global illegal cannabis market is estimated by Fortune Business to be worth at least the equivalent of DKK 130 billion. The German government estimates that the state can earn 4.7 billion euros (approximately DKK 35 billion) annually on a legalization, and the combination of economic gain and the fight against crime is, according to the proponents of legalization, the most important parameter.

Olaf Scholz, Germany's new chancellor, is leading a coalition of parties, who have agreed to legalize both the sale and use of cannabis. "We will allow controlled sales of cannabis for adults for recreational purposes in approved shops," according to a statement from Germany's new government, which consists of the Social Democrats (SPD), the Liberals (FDP) and the Greens.

CEO of DanCann Pharma, Jeppe Krog Rasmussen, comments:

I truly believe that Germany can play a crucial role in starting a domino-effect for the rest of Europe in this regard (legalization of cannabis for use of cannabis in general), and what we might first have thought would become a reality later, now seems likely in the near future.

All kinds of legalization in the direction of facilitating "easier" regulatory conditions for the consumers is a strong incentive for companies in - and close to - the industry (including DanCann Pharma) as it shows a form of acceptance, regardless of whether we are talking biotech, pharma, "medical" or recreational.

Legalization of cannabis in general in Europe's largest country will inevitably have strong and positive impact for other EU countries, including Denmark, says Jeppe Krog Rasmussen.

Measured by population, Germany will be the largest country in the world to legalize cannabis - but not the first. Canada started a legalization process in 2018, and 18 states in the United States, as well as Uruguay have already legalized the sale and use of cannabis for recreational purposes.

Germany will then become the second country in Europe to implement a legalization. Malta has just made both the purchase and sale of cannabis legal. Malta now only lacks the ceremonial approval from the country's president.

The German legalization process is expected to begin in the new year, and a review of the opinion and view of cannabis in general seems to be ongoing in several places around the world.

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.

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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