Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of
April 1, 2024, positive growth opportunities in Europe's largest consumer market

EQS-News: Cannovum Cannabis AG / Key word(s): Expansion/Expansion
Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of
April 1, 2024, positive growth opportunities in Europe's largest consumer
market

22.03.2024 / 11:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of
April 1, 2024, positive growth opportunities in Europe's largest consumer
market

Cannovum Cannabis AG (stock exchanges Frankfurt/Xetra, Düsseldorf, Munich,
Hamburg, Berlin, gettex: ISIN DE000A37FUP2) welcomes the legalization of
cannabis in Germany confirmed today by the Federal Council. The Cannabis Act
will thus come into force on April 1, 2024 and creates legal certainty for
companies and consumers. This will provide new impetus for a billion-euro
market in Europe's largest economy in the coming years. With a variety of
offers and services, Cannovum Cannabis AG intends to generate significant
sales in the area of recreational cannabis and create significant added
value for shareholders and the company.

In addition, the aforementioned "Pillar 2" of the Cannabis Act, announced by
the Federal Ministry of Health, will soon address commercial supply chains
as well as trade, distribution, packaging and advertising in model regions.
"As a company, we see ourselves in an excellent position to benefit from
these developments. We are already setting the course to seize the
opportunities arising from these legal changes," says Klaus Madzia, CEO of
Cannovum Cannabis AG

Extended legalization is expected to usher in a new era of consumer access
and market expansion in the legal recreational sector. Cannovum Cannabis AG
intends to expand its presence in various segments of the market. "In
addition, we want to ensure efficiency and compliance, and adapt our
marketing strategies to position our brandn as a leader in the legal
cannabis sector," says Klaus Madzia.

Cannovum Cannabis AG plans to generate significant sales through offers for
existing and emerging cannabis clubs. Here, the company is positioning
itself at the forefront of the market through a unique partnership with
large horticultural and agricultural companies in Germany. This partnership,
realized by the subsidiary Anbau-Allianz für Deutschland GmbH, enables the
clubs to cultivate cannabis on more than 16.5 hectares of greenhouse space,
100 hectares of open land and 2,000 hectares of agricultural land throughout
Germany.

This innovative service allows cannabis clubs to grow high-quality cannabis
safely and in compliance with legal requirements without a large initial
investment. With a potential annual turnover of 2.1 million euros per club
and an expected increase in the number of clubs in the coming years,
Cannovum Cannabis AG sees enormous market and growth potential. The
cultivation alliance also has strong partnerships with leading organizations
and companies, which strengthens the company's position as a market leader
and offers investors an exceptional opportunity to participate in the growth
of the German cannabis market and create sustainable value.

Partners of Anbau-Allianz für Deutschland GmbH include Osnabrück University
of Applied Sciences, the horticultural companies Hortensien Spieker, UN
Moorman, Baum Düsseldorf UG, Janßen Group, Blumen Rieke and Cox Gartenbau,
as well as the innovative growth optimizer Spex AI, Gartenbauversicherung
Deutschland VVaG, the international analytics company Wessling, the market
leader for biological plant protection Koppert and the supplier of
ecological plant pots Pottburri.

The adopted law also provides for comprehensive amendments to the Narcotics
Act (BtMG), criminal law, pharmaceutical law and road traffic law. Due to
the deletion of cannabis and THC from the BtMG, a restructuring of medical
cannabis law is necessary. Experts expect a significant increase in demand
due to the easier prescription practice by doctors.With its investment in
Cannovum Health eG, Cannovum Cannabis AG is also benefiting from the
imminent growth in the medical cannabis sector. Statista estimates the
market potential in this area at more than 360 million euros for the year
2024.



Further information can be found at: www.cannovum.de

Contact:

Klaus Madzia

Board of Directors

Cannovum Cannabis AG

email: klaus.madzia@cannovum.com;

Tel: +49 178 5811701

About Cannovum Cannabis AG:

Cannovum AG (www.cannovum.de, www.cannovum.com) is the first German cannabis
company to be traded on the stock exchange. The shares are traded on the
Frankfurt/Xetra, Düsseldorf, Munich, Berlin, Hamburg and gettex stock
exchanges.


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22.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        Cannovum Cannabis AG
                   Stresemannstrasse 23
                   10963 Berlin
                   Germany
   Phone:          0178 5811701
   E-mail:         klaus.madzia@cannovum.com
   Internet:       www.cannovum.com
   ISIN:           DE000A37FUP2
   WKN:            A37FUP
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf
                   (Primärmarkt), Frankfurt, Hamburg, Munich, Tradegate
                   Exchange
   EQS News ID:    1865543

End of News EQS News Service
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1865543 22.03.2024 CET/CEST