Dancann Pharma

As set out in press release published on 17 July 2023, the Company has issued a total of 378 convertible debt instruments, each of an amount of DKK 50,000, equal to an aggregate amount of DKK 18,900,000, and 8,190,000 warrants to Nordic Growth Opportunities 2 (the "Investor"). The Investor has notified the Company that it wishes to convert in the total amount of DKK 500,000 cf. the terms set out in Schedule 6.9.1 of the articles of association of the Company. Consequently, the Company has today issued a total of 24,999,999 new shares of nominally DKK 0.0375 each, equivalent to nominally DKK 937,499.9625 new shares, to the Investor. 

As a consequence of the issue of new shares, the total debt under the instrument is reduced from DKK 3,300,000 (first tranche of the loans) to DKK 2,800,000. The two remaining tranches of the instruments of DKK 6 million and DKK 6.3 million, respectively, will be disbursed by the Investor during the remaining period of approx. 12 months upon the Company's request, however subject to customary conditions precedent, as set out in press release of 17 July 2023.

By issue of these new shares, the share capital of the Company increased by nominally DKK 937,499.9625 from nominally DKK 5,311,049.625 to nominally DKK 6,248,549.5875, thereby diluting the existing shareholders' shareholdings by approx. 15%. Following the issue of the 24,999,999 new shares, the total amount of shares of the Company is 166,627,989.

The new shares carry the same rights as the existing shares of the Company.

About Nordic Growth Opportunities 2

Nordic Growth Opportunities 2 ("NGO2") is an investment vehicle managed by a European family office. NGO2 invests via alternative credit solutions for publicly listed companies via private placements. NGO2 focuses on high growth sectors with significant upside potential.  

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 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

E-mail: jkr@dancann.com

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.