Cannamedical® Pharma GmbH Conducts First Closing on 12M€ Strategic Investment Round Led by Healthcare Executive Steve Wiggins

Cannamedical® Pharma GmbH, the leading independent brand in Germany's fast-growing medical cannabis market, announced today the first closing of a new 12M€ strategic investment round and the addition of Steve Wiggins to the Company's Board of Directors. Mr. Wiggins is one of the most successful American healthcare entrepreneurs, with a long history of starting and building businesses that have become leaders in their health sectors. The Company will use this investment capital for key strategic growth initiatives including domestic and European expansion to promote its market-leading product portfolio.

Cannamedical® has combined world class quality products, a uniquely effective market access strategy and a laser-focus on customer service, uniting industry leading medical, quality assurance and healthcare specialists in the effort to help providers and pharmacists provide important medicine to patients. In addition, the Company has built the most advanced supply chain in the European medical cannabis sector, with its supplier network consisting of numerous partners on three continents. This approach has enabled the Company to provide world class product quality, selection and stability, and to drive continued strong growth, even in times of uncertainty such as the current situation. "Cannamedical® attracted me because of their young, mission-driven leadership team and their commitment to product quality. I believe the human endocannabinoid system holds a key to addressing a wide range of diseases and conditions. Cannamedical® is a unique business and has a generational opportunity. I am excited and honored to be part of their journey as a Board Director and investor", said Steve Wiggins.

"I am proud of the hard work of every member of the Cannamedical® team. Through their passion, we are in a stronger position than ever to build Cannamedical® as a leader in the European medical cannabis industry" said David Henn, founder and CEO of Cannamedical® Pharma. "With his decades of experience helping develop new markets for medical solutions, Steve is a perfect fit as an investor and Board Director."

Mr. Wiggins has over 30 years of experience launching and managing healthcare companies and has founded nine healthcare companies including Oxford Health Plans, which grew into a Fortune 300 company under his leadership. Most recently, Steve built Remedy Partners into the world's largest bundled payment network, with current throughput in excess of $7 billion. Steve was also a Managing Director of Essex Woodlands Health Ventures, one of the oldest and largest U.S. healthcare venture capital and growth equity firms. He presently manages a family office, making investments globally in the health care industry.

With the addition of Mr. Wiggins, Cannamedical's® Board of Directors now consists of Mr. Wiggins, Mr. Henn, Jesse Du Bey of Orkila Capital and Fabian Thylmann of SN-Invests.

For more information about Cannamedical Pharma, please visit our website at  https://cannamedical.com or write us an email.