Background

DanCann Pharma A/S was founded on 20 March 2018, and the Company’s shares were admitted to trading on Spotlight Stock Market on 12 November 2020. Since 2023, the Company has implemented a significant strategic realignment and now operates primarily as a sourcing, import and distribution company, supported by a LEAN organization of five employees and with a materially reduced need for additional capital.

The board of directors has carefully evaluated the Company’s current circumstances, including the impact of its strategic repositioning, capital structure, and the market dynamics experienced since the initial listing. Following this review, the board has resolved to apply for a voluntary delisting of the Company’s shares from Spotlight Stock Market pursuant to section 6.3 of the Spotlight Stock Market Regulations, subject to approval by the general meeting.

Delisting of the Company’s shares will be carried out in accordance with the rules applicable to foreign companies listed on Spotlight Stock Market as set out in Swedish Stock Market Self-Regulation Committee’s Rules on Delisting of Shares at the Initiative of the Issuer (Sw. “Regler om avnotering av aktier på emittentens initiativ”), dated 1 September 2025.

The board of directors’ rationale for the proposed delisting:

The board of directors’ resolution to apply for the delisting of the Company’s shares is based on the following reasons and considerations:

1. Disproportionate cost and administrative burden

Maintaining a listing on Spotlight imposes significant recurring costs and extensive compliance obligations. Relative to the Company’s present size and resources, these requirements have become disproportionate and divert both financial means and management capacity from operations and business development.

2. Strategic realignment and reduced capital needs

Since 2023, the Company has shifted its strategy and significantly reduced its capital requirements compared to the assumptions underpinning the original listing. The Company’s funding needs are now better matched with the private equity market, where longer-term and strategically aligned investors can be engaged.

3. Limited investor interest and liquidity

DanCann Pharma’s modest market capitalization and the limited liquidity of its shares have negatively affected investor perception and created volatility in the trading pattern. This environment has hindered the Company’s ability to attract institutional or well-capitalized investors and has limited its practical access to capital via the public market.

Taken together, these factors have created a situation where the benefits of maintaining a listing on Spotlight no longer outweigh the costs and constraints associated with it. By pursuing a delisting, the Company will be able to allocate resources more efficiently, strengthen its operational focus, and secure funding through private channels better suited to its current profile and strategic ambitions.

The board of directors is of the opinion that the proposed delisting is in the best interest of both the Company and its shareholders.

Extraordinary general meeting

The board of directors’ resolution to apply for a voluntary delisting of the Company’s shares from Spotlight Stock Market is conditional upon approval hereof by an extraordinary general meeting of the Company to be convened today. In order for the Company to submit an application for delisting of the Company’s shares, the proposal hereof shall be passed by the extraordinary general meeting by a majority of least 2/3 of the votes cast as well as 2/3 of the share capital represented at the general meeting. As part of the proposal, the articles of association of the Company will be amended as a result of the Company’s shares no longer being listed shares.

A notice convening the extraordinary general meeting will be published today by way of a separate press release.

Application to delist the Company’s shares

If approved by the general meeting, DanCann Pharma expects to submit an application for delisting of the Company’s shares to Spotlight Stock Market on 7 January 2026.

Provided that Spotlight Stock Market approves the application for delisting, the last day of trading is expected to be on 22 January 2026. The shares can be traded on Spotlight Stock Market in accordance with Spotlight Stock Market’s Regulations up to and including the last trading day.

Effect of delisting

A delisting of the Company’s shares from trading on Spotlight Stock Market will imply that the Company’s shares cannot be traded on Spotlight Stock Market, and trading in the Company’s shares will take place over-the-counter (“OTC”).

Following a delisting, the Company will no longer be subject to the disclosure obligations under the Market Abuse Regulation (MAR) and the rules applicable to companies admitted to trading on Spotlight Stock Market. However, the Company will still be subject to the Danish Companies Act and the Danish Financial Statements Act, among other laws.

In addition, shareholders should be aware that delisting of the Company’s shares may affect their tax position with respect to the shares in the Company, as the shares will no longer be admitted to trading on a multilateral trading facility.

Following a delisting, the Company’s shares will remain dematerialized and registered with Euronext Securities (VP Securities A/S).

Outlook for the Company following a potential delisting

Following a delisting, DanCann Pharma intends to operate as a leaner and more agile organization, enabling further optimization and efficiency in the Company’s capital structure and resource allocation. The Company will continue its business operations as usual, including the current prescription (“Rx”) portfolio through CannGros ApS as well as the planned launch of its direct-to-consumer (“DTC”) product line through OTC Group ApS.

Moreover, the Company will pursue its M&A agenda with increased intensity within the private equity market, leveraging enhanced flexibility and access to strategic partners. A key focus will be the rebuilding of the Company’s capitalization table, anchored in a more stable investor base and supported by long-term strategic cornerstone investors.

Tentative timetable for the delisting

Further information

For further information regarding the delisting, please contact:

Carsten Trads, Chairman

E-mail: ctr@dancann.com 

About DanCann Pharma A/S

DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical Company powered by cannabinoids.

DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen/Stockholm.

For more information, please visit: www.dancann.com

Forward-looking-statement:

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.