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Publicerat: 2022-05-06 10:00:00

DanCann Pharma A/S: DanCann Pharma's CEO: Building organization and strong results from the acquisition of CannGros ApS

COPENHAGEN, Denmark, 6 May 2022 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the "Company"), a Danish company powered by cannabinoids, hereby announce that Jeppe Krog Rasmussen has decided to step down from the Board of Directors to focus on his position as the Company’s CEO.

At DanCann Pharma's general meeting on Wednesday 27 April, one of the items on the agenda was "election to the Board of Directors". And for the first time in the Company's history, Jeppe Krog Rasmussen's name was not among the candidates, as he had decided not to run.

In connection with DanCann Pharma's introduction on the Swedish Spotlight Stock Exchange in November 2020, Jeppe Krog Rasmussen at the age of 25 became one of the youngest persons to list a company on the stock exchange. Since then, his involvement in the Company has included being CEO and Board Member, but with an increased business volume and rapid development, Jeppe Krog Rasmussen has chosen to step down from the Board of Directors to focus on the role of CEO at DanCann Pharma.

Jeppe Krog Rasmussen comments:

- In DanCann Pharma's Board of Directors, we have distributed the tasks, so I have primarily had to handle the work with strategy and investor relations, which has always been close to my heart. However, we have now had the opportunity to bring the experienced investment profile Tue Østergaard into the board, which is a bit of a scoop for us.

DanCann Pharma was founded in 2018 and has since taken huge strides towards establishing itself as a manufacturer and distributor of products in the medical cannabis market. In October 2021, DanCann Pharma acquired the wholesale company CannGros and became the market leader with licensing and sales rights for the three products available on the market under the Danish Pilot Programme. The next step is the forthcoming EU-GMP (Good Manufacturing Practice) approval of the production facilities and the pending product application (extracts of cannabis in an oil solution) at the Danish Medicines Agency.

Further comments from Jeppe Krog Rasmussen:

- During this period, DanCann Pharma is undergoing a change from being an ambitious project to a growth company in operation. In the past year, we have significantly equipped ourselves with key people both in the organization and in the Board of Directors, and we aim to be able to have a top professional approach to everything we do. This is what our many investors expect, who loyally support and show great confidence in our development potential.

Once the Danish Medicines Agency has approved DanCann Pharma's production facilities, the Company faces its biggest milestone to date, when the first batch of the Company’s biomaterial must be ready for delivery to selected export markets. At the same time, the subsidiary CannGros must be integrated into DanCann Pharma, which the Company have high expectations for, both for the already established but also for the whole growth part of the potential in CannGros.

Jeppe Krog Rasmussen concludes:

- We have just hired a strong industry personality, Louise Conradsen, as CEO of CannGros. When we bought the company, it meant that DanCann Pharma got the desired commercial leg connected, and we must jointly develop and strengthen this. The responsibility for that task is in safe hands with Louise, and I expect a lot from our future collaboration.

- CannGros has proven to be a really strong acquisition, which has both enabled us to get on the market significantly faster, in terms of buying an already existing platform and everything that belongs here, such as know-how, products, pipeline and an established QMS - and last but not least, it has turned out to be a bit of a scoop if we look at the P/E price of the company, and especially in the context of pharma-based companies' price standards, which I look forward to tell more about very soon.

- No news is definitely not the same as bad news. We are very busy, the business is running, and we are building organization and enabling results hereby.

After DanCann Pharma's general meeting, the new board of directors constituted itself with Carsten Trads as Chairman of the Board, Christian Carlsen as deputy Chairman and Magnus Østergaard Dahlmann, Per Wester Tue Østergaard as Board members.

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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