Press release from Companies

Published: 2023-03-21 08:00:00

DanCann Pharma A/S: DanCann Pharma A/S is reducing its debt with current lenders through a directed share issue at market conditions

COPENHAGEN, Denmark, 21 March 2023 - DanCann Pharma A/S (SS: DANCAN) (OTCQB: DCPXF) ("DanCann Pharma" or the "Company"), a Danish company powered by cannabinoids, has today, with the support of an authorization from the Extra General Meeting held September 20, 2022, decided on a new share issue of a maximum of 2,031,250 shares at a subscription price of DKK 0.63 per share at a total value of 2 MSEK (the "Share Issue")

The reasons for the deviation from the shareholders' preferential rights are mainly to raise capital in a time-efficient manner and to be able to reduce the debt in the Company. The subscription price per share corresponds to the VWAP for the share over a period of 21-trading days up to and including 20 March 2023, which was the last trading day before the Board of Director's decision on the Directed Issue of shares and without any discount. The Board of Directors' assessment is that the subscription price in the Directed Issue of Units is in accordance with market conditions, since it has been determined through a 21-day VWAP.

The completion of the Directed Issue of shares results in a dilution for existing shareholders of approximately 3 percent of the number of shares and votes in the Company after completion of the transaction, through an increase in the number of outstanding shares and votes of 2,063,492, from 65,014,639 to 67,078,131. The share capital increase from DKK 2,438,049 to approximately DKK 2,515,430. Payment for subscribed shares must be made in cash.

In order to facilitate the delivery of shares to the Investors in the directed issue, CEO, Jeppe Krog Rasmussen has made approx. 2,000,000 shares available for the Investors to borrow. At claim of the share loan, the borrowed shares will be returned after the directed issue is registered with the Danish Companies Registration Office.

The CEO of DanCann Pharma, Jeppe Krog Rasmussen, commented:

Through dialogue with our current lenders, we have succeeded in writing down approximately SEK 2 million on our current loan, based on market conditions, which completes this transaction in an otherwise very noisy and nervous market, viewed through global economic glasses.

We are very pleased with this outcome.

About DanCann Pharma

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

The Company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas. 

DanCann Pharma is EU-GMP-approved by the Danish Medicines Agency under the Danish Pilot Programme for medical cannabis, and have, among other things, license for manufacturing, export, import and distribution. The DanCann Pharma group also owns the subsidiary CannGros ApS, which is the market leader in Denmark with the import and distribution of the products Bedrocan®, Bedica® and Bediol® to all the Danish pharmacies.

DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen/Stockholm and sidelisted on OTCQB Venture Market in USA (OTCQB: DCPXF).

For more information, visit:

For further information, please contact:

Jeppe Krog Rasmussen, CEO

Phone: +45 2963 6920



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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