DanCann Pharma A/S publishes Q1-2023 report

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COPENHAGEN, Denmark, May 31, 2023 /PRNewswire/ -- DanCann Pharma A/S (SS: DANCAN) (OTCQB: DCPXF) ("DanCann Pharma" or the "Company"), a Danish company powered by cannabinoids, hereby announce that the Company has published its report for the first quarter of 2023. The Q1-2023 report is available as an attached document to this press release and at www.dancann.com.

SUMMARY: GROUP KEY FIGURES Q1 2023

Jeppe Krog Rasmussen, CEO of DanCann Pharma, comments:

"I am delighted to provide an update on the progress and developments of DanCann Pharma during the first quarter of 2023. Q1-2023 has been another excellent quarter full of improvement to bring us further on our journey to help secure consistent, quality treatment for all patients and relatives.

Completing CannGros' first successful repackaging in February was an outstanding achievement by the team to secure a swift transition to the new facilities in Ansager. Doing this quickly has been instrumental in ensuring uninterrupted operations and a continuous flow of medicine to those who rely on us.

Getting the CannGros sales office settled in Odense has also significantly highlighted our Company's focus on democratizing medical cannabis as a viable treatment in Denmark by solidifying our commercial activities. A strong Q4-2022 has influenced our sales for Q1-2023. At the same time, these larger orders from our wholesalers represent a delicate balance from quarter to quarter, which is why the figures provide a slightly misleading picture of our business in Q1-2023, compared to Q4-2022. However, throughout Q2-2023, we have observed a stabilization in our order volume, aligning with our internal projections and estimates.

We are experiencing increased sales of our Bedrocan® product, but we have also had to address delivery difficulties from Holland. However, we are working diligently to rectify these issues and expect to get back on track in Q2-2023. Alongside our efforts to move our packaging and distribution facility, we will continue to enhance our cost-effectiveness and solidify our industry position.

Furthermore, we are working diligently to complete our validation batches from the facility (BP1), which initially encountered some minor circumstances resulting in a slight delay in our timeline. The issue lies in minor corrections to our product specifications, including minor adjustments to the profile.

It has been a strategic and fundamental decision to address these issues early on, as failure to do so may potentially lead to unfavorable circumstances upon release. Despite these challenges, we remain highly optimistic about achieving our final checkpoint in obtaining the release certificate.

Therefore, our previously estimated guidance to be ready and obtain our release certificate in May has been postponed to after the summer break out of respect for holidays and the authorities involved in the process, and thus expectedly in August.

We will continue to work passionately and diligently to deliver on our business goals and solidify our position as a leading industry brand."

For more information, visit: https://www.dancann.com/investor-relations.

About DanCann Pharma A/S

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 side listed on OTCQB Venture Market in USA (OTCQB: DCPXF).

For more information, visit: www.dancann.com

For further information, please contact:

Jeppe Krog Rasmussen, CEO

Phone: +45 2963 6920

E-mail: [email protected]

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.

This disclosure contains information that DanCann Pharma A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 31-05-2023.

The following files are available for download: