Planned capital measures with reverse stock split and change in the supervisory board – Biotech Investments

Cannovum Cannabis AG: Planned capital measures with reverse stock split and change in the supervisory board

The Supervisory Board of Cannovum Cannabis AG (stock exchanges Frankfurt, Xetra, Düsseldorf, Munich, Hamburg, Berlin, Tradegate, gettex: ISIN DE000A2LQU21) today approved the annual financial statements for the fiscal year 2022 (as prepared by the Management Board), the annual financial statements are thus adopted. 

“Supervisory Board members Udo Schmickler, Niklas Kornder and Dr. Philipp Sewerin announced their resignation today. The Annual General Meeting on August 18, 2023 in Berlin will therefore elect new members to the Supervisory Board.

A proposal will also be made at this Annual General Meeting to reduce the Company’s share capital by a ratio of 5:1 and to combine the shares accordingly by way of a reverse split. The percentage share in the Company attributable to each shareholder will not change as a result. However, the Company will again be in a position to raise new equity by issuing new shares above the calculated par value.

With its majority shareholding in Anbau-Allianz für Deutschland GmbH, Cannovum Cannabis AG is preparing for the upcoming legalization of cannabis for the pleasure market. Anbau-Allianz für Deutschland is the guarantor for pleasure cannabis in Germany. Founded by Cannovum Cannabis AG and the company Hortensien Spieker 2023, the Cultivation Alliance develops products for growers, club operators and ultimately end customers. It links investors with partners, supports research and development, and represents the interests of its members vis-à-vis politicians, the public, and authorities. The Anbau-Allianz combines presence, reach, brand profile, contacts to media, club operators and end customers, participation models and external experts with its members under one roof.

Contact:

Klaus Madzia, IR & PR, Cannovum Cannabis AG.

Phone +49 30 3982 163 62, klaus.madzia@cannovum.com

About Cannovum Cannabis AG:

Cannovum Cannabis AG is the first German fully licensed 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. Cannovum Cannabis AG is ready for the legalization of cannabis and well-prepared.