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TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) -- RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or "RAMM") (CSE: RAMM), a leader in plant-derived cannabinoid pharmaceutical products, welcomes the announcement by Germany’s recently formed coalition government of its agreement to legalize the sale and consumption of cannabis for recreational use.
Germany currently represents the largest medical cannabis market in Europe since legalization in 2017. The European cannabis market is projected to grow to 3.2 billion euros by 2025, up from 403 million euros at the end of 2021. (The European Cannabis Report, Prohibition Partners). With a population of over 84 million people, Germany has largest economy in the Europe and would represent the largest legalized recreational cannabis market in the world.
“We are pleased with the continued advancement of cannabis regulations in Europe and commend Germany on their recent steps to increase access to cannabis products,” stated Jack Burnett, Chief Executive Officer. “RAMM is well positioned to become a leader in the European market through our vertically integrated European platform and established portfolio of pharmaceutical and other cannabis-based products.”
Through its wholly owned subsidiary Canapar Corp., RAMM is positioned to become one of Europe's largest vertically integrated cannabis companies. Canapar's state-of-the-art extraction facility is the largest in Europe and has been custom designed to produce active compounds to be used in high-quality pharmaceutical, wellness, recreational and cosmetic products from its 1,000-hectare organic hemp production and processing platform. RAMM’s strategic foothold in Europe provides growing distribution opportunities for RAMM's portfolio of registered cannabis-based products.
RAMM’s state-of-the-art European production facility is ideally situated within close proximity to an international airport and other export hubs to service the European and other international markets. The facility totals approximately 36,600 sq.ft. and features dedicated cannabis extraction, product laboratories, packaging capabilities and storage/distribution facilities.
About RAMM Pharma Corp.
RAMM Pharma is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products with a unique and diversified international production and sales platform. The company operates an established pharmaceutical and medical product business in Uruguay that has developed several medically registered and approved plant-derived cannabinoid pharmaceutical products that have been authorized for sale and/or compassionate use in several Latin American countries. RAMM also has a pipeline of new products, including registered cannabis-based nutrition and specialized veterinary products, in various stages of approval and development, which are produced at the company's state-of-the-art, good-manufacturing-practice-certified cannabis formulation facility in Montevideo, Uruguay.
In Europe, RAMM's vertically integrated operations are based in Ragusa, Italy, and include: a hemp cultivation platform; a large extraction and processing facility (in the final stages of commissioning) to produce an extensive line of cannabidiol formulations, APIs (active pharmaceutical ingredients) and wellness products.
RAMM Pharma includes wholly owned subsidiaries Canapar Corp., Medic Plast SA, Yurelan SA, Glediser SA and RAMM Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com.
For further information, please contact:
Chief Operating Officer
+598 92 223 131
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, expectations regarding the recreational cannabis market in Germany, the Company’s strategies and objectives, and future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to RAMM of the legalization of medical cannabis in Germany; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Uruguayan, Latin American, and international medical and recreational cannabis markets and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Uruguay or internationally; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.