o The new German government, likely to be sworn in next month, has announced their intention to legalise the use of cannabis
o If passed, Germany would become a major European country to legalise the recreational use of cannabis, and would pave the way for other countries to implement similar legislation
o Amatheon Agri's subsidiary in Zimbabwe received a license to produce cannabis for medical and scientific use in June 2021. This extremely high value crop supports Amatheon Agri's strategic expansion into export markets and diversified offerings to achieve additional contribution margins
o The global medical cannabis industry was estimated to be worth around US$21 billion in 2020, with very high estimated annual growth rates over the next five years as an increasing number of countries approve its use
BERLIN, GERMANY / ACCESSWIRE / November 29, 2021 / Amatheon Agri Holding N.V. (the 'Company'), the Euronext listed agribusiness and farming group (ISIN NL0010273694, Symbol MLAAH), congratulates the incoming German government on their plans to legalise the use of cannabis in Germany. While Germany is not likely to become a large producer nation due to high overheads and weather conditions, this shift in legislation supports Amatheon Agri's strategic entry into cannabis production in Zimbabwe.
Earlier this year, the company secured a license to produce medical cannabis in Zimbabwe, and is currently undertaking a detailed planning phase for production. This new product will further diversify Amatheon Agri's export portfolio and spearhead its entry into the speciality products market. Very few other companies hold this license in Zimbabwe, and Amatheon Agri intends to apply for production licenses in other countries too.
Germany's incoming coalition government has agreed to legalise the sale of cannabis, as long as it's sold in licensed venues where it can be taxed properly and oversee quality control and the age of buyers. After four years, there would be an evaluation of the law and its effect on German society.
If recreational marijuana is legalised, Germany would be a major European country to do so - following Canada and certain U.S. states. While some other European countries have already approved it for medical use, there are few who have approved recreational usage. This would become a significant market for legal cannabis growers and traders.
Medical cannabis: An additional crop to produce and trade
Amatheon Agri established its subsidiary in Zimbabwe in 2014 and has engaged various Joint Ventures in the country since. In June 2021, after receiving a license to grow medical cannabis, the company embarked on the second project phase - the detailed planning phase - which will bring the project to execution.
'The new German government has laid out their plans to legalise cannabis, which is a major step forward for Amatheon Agri's production and marketing plans,' says Founder and CEO of Amatheon Agri Holding N.V., Mr. Carl Heinrich Bruhn.
'The company is already engaged in producing and trading crops like corn, wheat and rice, and spices like chilies and paprika as well as healthy superfoods such as quinoa, chia and moringa. We are already a license holder for medical cannabis production and now intend to also produce and trade medicinal cannabis for the emerging German market within the upcoming regulations,' says Bruhn.
The Management Board
Berlin, Germany, 29 November 2021
For further information please see the Group's website: https://amatheon-agri.com
Amatheon Agri Holding N.V.
Friedrichstrasse 95, 10117 Berlin, Germany
Tel: +49 30 53 000 90 121
Fax: +49 30 53 000 90 20
About Amatheon Agri Holding N.V.:
Amatheon Agri is a European agri-food company with headquarters in Berlin and production sites in Sub-Saharan Africa and cooperation with small-scale local farmers (outgrowers). Since its foundation by Mr. Carl Heinrich Bruhn in 2011, Amatheon Agri has established sustainable agricultural value chains from cultivation to product-specific processing and trading processes in Zambia, Uganda and Zimbabwe. With a combination of international distribution network, incorporated local know-how as well as a sustainable vision for the future, Amatheon Agri has been able to establish itself as a strategically aligned global player in the African agricultural sector.
In 2020, Amatheon Agri also launched its new brand for 100% natural, fair and sustainably grown food from Zambia, Uganda and Zimbabwe: ZUVA Foods (zuva.de)
The Shares of Amatheon Agri are listed on the Euronext Paris stock exchange (ISIN NL0010273694, Symbol MLAAH) and on the Lang & Schwarz Exchange in Germany (Symbol/WKN A1J4XD). The Convertible Bonds of Amatheon Agri are listed on the Frankfurt Stock Exchange with ISIN DE000A286BY3 and Symbol/WKN A286BY.
SOURCE: Amatheon Agri Holding N.V.
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