Cannovum Cannabis AG Initiates Liquidation and Sale of Investments

Cannovum Cannabis AG announced the liquidation and sale of its investments in the cannabis sector. The decision follows uncertainties surrounding the legalization of recreational cannabis in Germany. Political hesitations have stalled progress, casting doubt on the future industry landscape.

Cannovum holds a majority stake in Anbau-Allianz für Deutschland GmbH, now set for liquidation. Additionally, it plans to sell its remaining medical cannabis investment, Cannovum Health eG, this year. In response to these developments, the Management Board will propose removing cannabis-related references from the company's name at the Annual General Meeting scheduled for August.