Cantourage Group SE: Research update confirms positive development of Cantourage shares and changes valuation recommendation to “Buy”

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Cantourage Group SE: Research update confirms positive development of Cantourage shares and changes valuation recommendation to “Buy”

Berlin, May 30, 2023 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01), a leading European company for the production and distribution of cannabis-based pharmaceuticals, has received a positive rating in NuWays AG’s research update. In the update, the valuation recommendation for Cantourage shares was changed from “Hold” to “Buy,” while the target price has remained unchanged at EUR 12. Hence, NuWays AG’s research update confirms Cantourage’s potential and positive development.

“We are pleased with the changed valuation recommendation. It confirms our success to date and demonstrates confidence in our business strategy. We firmly believe that we have further growth potential thanks to our unique positioning in the medical cannabis market,” commented Philip Schetter, CEO of Cantourage.

“The revised valuation recommendation reflects the positive first quarter of 2023, in which we generated profit for the first time. Of our 50 partner cultivators on our Fast Track Access platform, we have now been able to bring cannabis medicines to market from 13 partners since Cantourage’s inception. More will follow this year. With this progress, we believe we are on the path to long-term profitability,” added Bernd Fischer, CFO of Cantourage.

About Cantourage
Cantourage is a leading European producer and distributor of cannabis-based medicinal preparations and drugs. The Berlin-based company was founded in 2018 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann. With an experienced management team and its “Fast Track Access” platform, Cantourage enables producers from around the world to become part of the growing European medical cannabis market faster, easier and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In this context, Cantourage ensures compliance with the highest European pharmaceutical quality standards at all times. The company offers pharmaceutical-grade products in all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on November 11, 2022 and is listed under ticker symbol “HIGH”.

More information: www.cantourage.com  

This announcement does not constitute a public offer or an advertisement for a public offer in the meaning of Regulation (EU) 2017/1129 (Prospectus Regulation).
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Press contact Cantourage:
Frederick Steudemann
M +49 (0)30 4701 350-50
pr@cantourage.com