DanCann Pharma A/S signs binding agreement with Polish company Storkpharm worth more than DKK 40 million

COPENHAGEN, Denmark, November 3, 2022 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the “Company”), a Danish company powered by cannabinoids, hereby announce that the Company has signed a supply agreement (the “Agreement”) with Storkpharm Sp. z o.o. (“Storkpharm”) for the Polish market. The Agreement covers the period 2024 to 2025 (the “Period”), and furthermore 2026 to be discussed during the Period.

Storkpharm is a private hold pharmaceutical wholesale company in Poland, approved by Polish health authorities and with a widespread distribution network in the country that includes direct connections to pharmacies and hospitals. The company was established in 2005 and provide medicines, medical devices, food supplements and cosmetics for public procurement with consent of the Ministry of Health and other non-public entities both in Poland and on the European and non-European markets.

DanCann Pharma will sell and export flower products (the “Product”) to Storkpharm with focus mainly on the Tetrahydrocannabinol (“THC”) genetics and candidates. Storkpharm will purchase, import, package, market, and distribute the products to the European medicinal cannabis marketplace. The Agreement is non-exclusive for the Products and is set for a 2-year period with a binding commitment of approx. DKK 41 million.

Within the Agreement, DanCann Pharma is subject for, and guarantees that the Products are manufactured under Danish legislation, with guidelines set from the Danish Medicine Agency and hereby according to the Danish Ministry of Health requirements, including applicable rules for Good Agricultural and Collecting Practices (“GACP”), and European Union Good Manufacturing Practice ("EU-GMP") standards.

The two companies expect the first shipment to commence during Q1 2024.

Jeppe Krog Rasmussen, CEO of DanCann Pharma, comments:

- We look forward to doing business with the Storkpharm team. Storkpharm is a significant contributor to the European pharma industry with a clear strategic focus to enhance their medical cannabis business section. A long-term partnership is based on trust and common values, and DanCann Pharma is more than satisfied with this signed agreement and look forward to the coming years and cooperation.

- We are very pleased with the agreement and see it as yet another important signal to the market, that DanCann Pharma is ready for business, following huge investments in our facility Biotech Pharm1 to comply with authority requirements in order to initiate sales and distribution activities of our Products for customers and patients around Europe. We are confident, that DanCann Pharma and Storkpharm will form a strong coalition which will become a significant supplier to the Polish and European markets.

Piotr Kaczmarczyk, CEO at Storkpharm, comments:

- We are all very pleased to be starting our partnership with DanCann Pharma and adding them to our group of selected producers and genetics collaborators. They are a professional, highly knowledgeable team who share the same vision as us. Our customers will benefit from DanCann Pharma’s excellent quality medicinal cannabis.

- Storkpharm looks forward to the collaboration with DanCann Pharma together with its business partners - and with this move, Storkpharm plans, together with DanCann Pharma, to be a leading player on the Polish medical cannabis market over the next 3 years.

About Storkpharm
The Storkpharm company was founded in 2005 by a team of experienced in the pharmaceutical market specialists. We specialize in trading pharmaceutical products, controlled drugs, medical devices, dietary supplements, and cosmetics. In addition to activities in the field of public procurement, we also supply pharmaceutical products to other entities in the country and abroad.

For more information, visit: www.storkpharm.com/  

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.

This disclosure contains information that DanCann Pharma A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 03-11-2022.