DanCann Pharma A/S: A strong and growing organization is ready to fulfill the commercial ambitions

COPENHAGEN, Denmark, November 10, 2022 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the “Company”), a Danish company powered by cannabinoids, hereby announces that the Company has strengthened its organization on key positions during 2022 and is ready to meet market demands and expectations following the current Rights Issue and forthcoming approval from the Danish Medical Agency.

DanCann Pharma is right now carrying out a rights issue with a purpose of adding additional capital to the Company. The issue, which runs until Friday 11 November at 17:00, is 77% guaranteed in advance and will - if fully subscribed - add DKK 28.5 million to the Company's business areas. If the transaction is signed fully, it will be sufficient funding until DanCann Pharma reaches break-even. The Company expects this to happen during 2024.

DanCann Pharma is currently preparing to host an inspection from the Danish Medicines Agency for the approval of Biotech Pharm1 and DanCann Pharma's documentation and quality systems according to EU standards for good manufacturing practice (EU-GMP). The Company expects to have the approval in place before the end of the year. And DanCann Pharma has a strong team lined up to fulfill the great ambitions that the Company has for the future.

Jeppe Krog Rasmussen, CEO of DanCann Pharma, comments:

- Over the past year, we have upgraded significantly with key people both in the organization and on the board, and we aim to have a top professional approach to everything we do. This is what our many investors expect, as they loyally support and show great faith in our development potential. As a Company, we are facing an exciting future, and fortunately there are many skilled industry professionals who want to join us on that journey.

Since its foundation in 2018, DanCann Pharma has taken giant strides towards establishing itself as a manufacturer and distributor of products on the medical cannabis market. In October 2021, DanCann Pharma acquired the wholesale company CannGros and overnight became the market leader with license and sales rights for the three products available on the market under the Danish Pilot Programme.

Jeppe Krog Rasmussen comments on the organization:

- We have employed a strong industry profile, Louise Conradsen, as CEO of CannGros and as part of the management of DanCann Pharma. CannGros has proven to be a strong acquisition and an important addition to our business. When we bought the company, DanCann Pharma got the desired commercial leg added, and it has already yielded results, because Louise has been responsible for negotiating the newly concluded distributor agreements with German WEECO Pharma and Polish Storkpharm.

In the spring, DanCann Pharma employed Sarah Mai Holm as COO to be in the forefront of the approval process for EU-GMP-certification of the facility (Biotech Pharm1) with the QA- and production-department. Together with Jeppe Krog Rasmussen, Louise Conradsen and CFO Martin Ernst Vedel, she makes up the day-to-day management of DanCann Pharma. On 1 September, Charlotte Hagedorn Jørgensen joined as Head of Quality Assurance with 20 years of experience from the pharma sector. Today, DanCann Pharma host approximately 15 employees, which is expected to raise to approximately 30 within a few years.

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: [email protected]  

Website: www.dancann.com  

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.