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Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of April 1, 2024, positive growth opportunities in Europe's largest consumer market

EQS-News: Cannovum Cannabis AG / Key word(s): Expansion/Expansion Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of April 1, 2024, positive growth opportunities in Europe's largest consumer market 22.03.2024 / 11:45 CET/CEST The issuer is solely responsible for the content of this announcement.

 

Cannovum Cannabis AG: Federal Council confirms cannabis legalization as of April 1, 2024, positive growth opportunities in Europe's largest consumer market

 

Cannovum Cannabis AG (stock exchanges Frankfurt/Xetra, Düsseldorf, Munich, Hamburg, Berlin, gettex: ISIN DE000A37FUP2) welcomes the legalization of cannabis in Germany confirmed today by the Federal Council. The Cannabis Act will thus come into force on April 1, 2024 and creates legal certainty for companies and consumers. This will provide new impetus for a billion-euro market in Europe's largest economy in the coming years. With a variety of offers and services, Cannovum Cannabis AG intends to generate significant sales in the area of recreational cannabis and create significant added value for shareholders and the company.

 

In addition, the aforementioned "Pillar 2" of the Cannabis Act, announced by the Federal Ministry of Health, will soon address commercial supply chains as well as trade, distribution, packaging and advertising in model regions. "As a company, we see ourselves in an excellent position to benefit from these developments. We are already setting the course to seize the opportunities arising from these legal changes," says Klaus Madzia, CEO of Cannovum Cannabis AG

 

Extended legalization is expected to usher in a new era of consumer access and market expansion in the legal recreational sector. Cannovum Cannabis AG intends to expand its presence in various segments of the market. "In addition, we want to ensure efficiency and compliance, and adapt our marketing strategies to position our brandn as a leader in the legal cannabis sector," says Klaus Madzia.