31 March 2020, London. EMMAC Life Sciences Group, Europe’s leading independent cannabis company, is pleased to announce that its wholly owned subsidiary, About Nature Health GmbH (“About Nature”), has secured pharmaceutical wholesaler and narcotics handling permits for Germany, Europe’s largest medical cannabis market. The permits, granted according to section 52a AMG (German Pharmaceutical Law) and section 3 BMG (German Narcotics Law), will enable EMMAC to drive immediate revenue growth in Germany with the sale of medical cannabis products. EMMAC has a range of medical cannabis products, with different strengths and THC/CBD/CBG formulations in Oil and Flos1 formats, to address a wide range of specialist requirements.
According to the Bank of Montreal2, the German medical cannabis market could potentially produce more than US$5 billion in revenue for global cannabis producers, with an assumption that in seven years 7.5% of sleep, anxiety and pain prescriptions in Germany will be replaced with medical cannabis.
Antonio Costanzo, CEO of EMMAC, said: “The announcement today is an important milestone for EMMAC, and demonstrates the EU GDP compliant quality management systems About Nature has in place. EMMAC is now poised to deliver immediate revenues from Germany, and capitalise on the significant opportunities presented by the largest medical cannabis market in Europe, as we bring our products to market in 2020.”
About EMMAC Life Sciences Group
EMMAC Life Sciences Group is Europe’s leading independent cannabis company, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. With a unique supply and distribution network throughout Europe, EMMAC’s vision is to bring the life-enhancing potential of cannabis to the people who need it.
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All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of EMMAC Life Sciences Group. There can be no assurance that such statements will prove to be accurate, achievable or recognisable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. EMMAC Life Sciences Group assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.