Cantourage offers various medicinal cannabis products.
(Photo: Reuters)
Dusseldorf Cannabis supplier Cantourage has gotten off to a strong start in the stock market. The shares started trading in the Scale over-the-counter segment at a price of EUR 6.48 and then soared up to EUR 19.70. In the evening, the paper went out at a price of 17.20 euros – an increase of 165 percent compared to the initial price.
Cantourage offers a range of medicinal cannabis products and operates a cannabis clinic in the UK.
According to Cantourage, around 15 percent of the almost two million shares are in free float. Based on a previous off-exchange sale of shares, the company is valued in the high double-digit million euro range.
The money from the private placement will be used to expand the business in light of the upcoming legalization of cannabis in Germany and other EU countries. The company, which was founded in 2019, intends to triple its turnover of more than five million euros from last year this year, primarily through organic growth.
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