Cannovum Cannabis AG Announces Cash Capital Increase with Subscription Rights

On June 4, 2024, Cannovum Cannabis AG’s Management Board decided to execute a capital increase through the issuance of 888,900 new shares from authorized capital. The decision follows authorization from the Annual General Meeting held on November 13, 2020.

Current shareholders are granted subscription rights to purchase the new shares at a ratio of 8:5 and a subscription price of EUR 1.00 per share, as per Section 186 (5) AktG. The close of business today will be the cut-off date to determine the eligible shareholders.

The subscription period, lasting fourteen days, will commence following the approval and publication of the securities information sheet. Notably, the offer will proceed without a prospectus.

The raised funds will be directed towards reducing liabilities and supporting ongoing business operations, enhancing the financial stability of Cannovum Cannabis AG.