Cannovum Cannabis AG Secures Bundestag Approval for Cultivation Clubs

Cannovum Cannabis AG has received confirmation from the Bundestag for its business model related to cultivation clubs. This approval, confirmed on June 6, 2024, ensures legal certainty for recreational cannabis producers under the amended Cannabis Act (CanG). The amendments enable cultivation associations to apply for licenses from July 1, 2024, facilitating the launch of their operations.

The company, listed on several German stock exchanges including Frankfurt and Munich, will soon collaborate with partners in agriculture, facility management, and digital innovation to offer attractive, legally compliant services. These services aim to enhance the operational efficacy of cultivation associations and generate significant revenue for Cannovum.

"We are uniquely positioned to provide legally compliant services for cannabis clubs," stated Klaus Madzia, CEO of Cannovum Cannabis AG. Their subsidiary, Anbau-Allianz GmbH, boasts strong partnerships with key industry players, reinforcing its market leadership and growth potential.

Partners of Anbau-Allianz include Osnabrück University and various horticultural specialists, which collectively support Cannovum's aim to offer sustainable value and significant shareholder returns in the expanding German cannabis market.