- AMP is fully licenced to import medical cannabis from Europe and other countries
- Building brands for the German medical cannabis market supplied by foreign licenced producers
- Large volume Canadian imports projected to begin in the fall of 2020 under AMP brand
AMP German Cannabis Group Inc. (“AMP” or the “Company”) (CSE: XCX) (FSE: C4T) (ISIN: CA00176G1028) announces it is developing medical brands for a range of cannabis flower strains, extracts and other novel dosage forms specifically for the German market supplied by foreign licenced medical cannabis producers. Licensed producers that have been EU-GMP certified will cultivate medical cannabis to AMP’s brand specifications and quality standards.
First large imports of AMP’s medical cannabis brand are expected to be coming from Canada during the fall of 2020 from licenced producers that were EU-GMP certified prior to COVID-19 pandemic. AMP only enters into supply agreements with Canadian licenced producers who can supply a minimum of 1,000 kg annually of AMP branded medical cannabis, shipped on a monthly basis. AMP is in negotiations with several Canadian licenced producers to begin shipments in the fall of this year.
AMP is advancing its other signed Canadian producers to be EU-GMP audited during the fall of 2020 by the Company’s German pharmaceutical consultant and inspected for certification during early 2021 by TLV (the Thuringian State Office for Consumer Protection) provided international travel restrictions are normalized. Because of the COVID-19 pandemic, Germany is not conducting inspections of foreign medical cannabis producers until the end of 2020.
To meet future demand as the German market grows, AMP is developing long-term supply sources in Europe for large scale supply of AMP medical cannabis branded products. The Company believes as the German market develops, Europe will become an important and significant medical cannabis supply source. AMP’s strategy is to develop exclusive relationships with large medical cannabis licenced producers in certain EU countries for AMP medical cannabis branded products for the German market.
AMP’s non-exclusive distribution agreement (see press release dated 16th October 2019) with a leading distributor of pharmaceuticals products to more than 13,000 pharmacies throughout Germany encompasses purchasing AMP medical cannabis branded products. In addition, under our lead pharmaceutical distributor’s program, AMP will be investing in physician and pharmacist’s education seminars across Germany about medical cannabis. The Company is also in negotiations with additional pharmaceutical distributors to purchase AMP medical cannabis branded products as AMP’s imports increases this fall.
Dr. Stefan Feuerstein, Director of AMP, commented: “We had hoped to fulfill our distribution agreement with our lead pharmaceutical distributor in regards to imports from the Netherlands this month but we are optimistic that the Netherlands will resolve its export quota to Germany and increase exports in the near future. As already mentioned, we are in advanced negotiations with several foreign cannabis producers who already have an EU-GMP certification and are expecting to sign at least one definitive supply agreement within the next four weeks. Beginning this fall, AMP will be selling AMP branded medical cannabis products imported from Canada into Germany.”
About AMP German Cannabis Group Inc.
AMP German Cannabis Group is licensed to import European Union – Good Manufacturing Practice (EU-GMP) medical cannabis and sell to pharmaceutical distributers or pharmacists directly, the only point-of-sale for medical cannabis to German patients.
AMP has entered into a non-exclusive distribution agreement for medical cannabis with a leading distributor of pharmaceuticals products to more than 13,000 pharmacies throughout Germany for monthly shipments starting in the second half of 2020.
AMP will begin importing from the Netherlands, Canada and other countries upon its medical cannabis suppliers receiving German EU-GMP certification. For more information, please visit: www.amp-eu.com.
AMP social media links:
- Twitter: https://twitter.com/AMP_Cannabis
- LinkedIn: https://www.linkedin.com/company/ampgermancannabisgroup
- Facebook: https://www.facebook.com/AMPGCG/
Media Kit: https://www.amp-eu.com/media-kit
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This news release contains forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans and milestones and the timing thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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