Press release from Companies

Publicerat: 2022-05-12 09:00:00

DanCann Pharma A/S: DanCann Pharma A/S signs Letter of Intent with Aureum Pharma AB for exclusive rights with a minimum commitment of SEK 37 million

COPENHAGEN, Denmark, 12 May 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 Letter of Intent with Aureum Pharma AB ("Aureum Pharma") for exclusive rights over its products in Sweden.

DanCann Pharma is a highly experienced manufacturer of medical cannabis products in Denmark. Aureum Pharma is an entity permitted per Swedish law to import and distribute medical cannabis products.

DanCann Pharma and Aureum Pharma aims to enter into a binding supply and distribution agreement whereby DanCann Pharma will sell and export products (flower and granular), and Aureum Pharma will purchase, import, repackage, market, and distribute the products to the Swedish medical cannabis marketplace.

The terms of the agreement will be 3 years (36 months) from the execution date of the definitive agreement, with a minimum commitment of SEK 37 million. The two companies shall have two mutual options to extend for 1 years (12 months) per option.

The product portfolio consists of Tetracanoid®, Bidiocanoid®, Mixcanoid®, Varincanoid® and Bigerolcanoid®, based on the active substances of Tetrahydrocannabinol (“THC”), Cannabidiol (“CBD”), Tetrahydrocannabivarin (“THCV”) and Cannabigerol (“CBG”).

DanCann Pharma guarantees that the products are manufactured under Danish legislation, with guidelines set from the Danish Medicine Agency (“DMA”) 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.

DanCann Pharma and Aureum Pharma expect deliveries to commence in 2023.

Comments from Jeppe Krog Rasmussen, CEO of DanCann Pharma:

- I am glad that Swedish patients in near future will have access to our products. Quality-assured, standardized and uniform products, without – necessarily – using radiation, due to our methodology as ensuring its purity, which is very unique in the industry. We are increasing the patients' accessibility to our treatment by establishing ourselves in several European markets. However, we have a special connection to Sweden, the home country for many of our investors, and we are proud to be able to announce this Letter of Intent with Aureum Pharma, and soon to be finalized with a binding agreement, followed by communication of further new markets to be explored.

Comments from Therese Nader, CEO of Aureum Pharma:

- High-quality medical cannabis products are essential for many patients, and here we see DanCann Pharma as a big future contributor for the Swedish market. We are looking forward to introducing the Company’s products to the Swedish market and to be able to help more patients, who can benefit from treatment with new medical cannabis solutions.

About Aureum Pharma

Aureum Pharma AB is a wholly owned subsidiary of the privately owned Aureum Life Investments AB. Aureum Pharma is a Swedish pharmaceutical company with wholesale license, narcotic license, and EU-GDP license for handling cannabis-based products - all licenses approved and issued by The Swedish Medicines Agency.

Aureum Pharma AB is currently active in the Swedish market and soon in a number of other EU countries. Aureum Life Investments is the first Swedish cannabis company with operations that, through its own start-ups, takes medical cannabis from seed to patient.

The Aureum Life Investments Group includes the following companies: Aureum Agricol AB, Aureum Healthcare AB and Aureum Pharma AB. Aureum Healthcare AB and Aureum Pharma AB generate revenue as of today, which reports a profitable operation.

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
Website: www.dancann.com


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.

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