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AMP German Cannabis Group Announces Trade Financing for the Import of EU-GMP Medical Cannabis into Germany
BERLIN, Germany, April 3rd, 2020 - AMP German Cannabis Group Inc. ("AMP") (CSE: XCX), (Frankfurt: C4T, ISIN: CA00176G1
--->028) is pleased to announce that it has successfully increased the loan amount it can borrow on its drawn down loan fa
--->cility announced on December 3rd, 2018 from euros500,000 to euros1,000000 to finance trade receivables from the impo
--->rt of medical cannabis from the Netherlands in the coming weeks. The amended drawdown facility will mature December 3
--->1, 2021, and borrowed amounts can be repaid at any time without penalty.
AMP has also closed its non-brokered private placement announced on January 8th, 2020, which raised total gross procee
--->ds of $867,500 through the issuance of 3,470,000 common shares at a subscription price of $0.25 per share in the first
---> tranche closing announced on March 6th, 2020.
Mr. Alex Blodgett, CEO of AMP, commented: "We appreciate the support of our banking partner for increasing our loan fa
--->cility. Accordingly, we decided not to accept further subscriptions for our private placement to avoid unnecessary di
--->lution. In addition, due to strong demand for medical cannabis, we will be strengthening our distribution in Germany
--->by adding additional pharmaceutical wholesalers as we begin imports from the Netherlands and Canada."
About AMP German Cannabis Group Inc.
AMP German Cannabis Group is a specialized importer of EU-GMP medical cannabis into Germany. For more information, pl
--->ease visit: www.amp-eu.com.
Contact:
Mr. Alex Blodgett, CEO and Director
Telephone: +236-833-1602
Canada: investor@amp-eu.com
Germany: investor@amp-eu.de
AMP social media links: Twitter, LinkedIn, and Facebook. Media Kit: www.amp-eu.com/media-kit
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts resp
--->onsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's expectations, estimates and proj
--->ections regarding its business and the economic environment in which it operates, including with respect to its busine
--->ss plans and milestones and the timing thereof. Although the Company believes the expectations expressed in such forwa
--->rd-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance an
--->d 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 relianc
--->e on such statements. These forward-looking statements speak only as of the date on which they are made, and the Compa
--->ny undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or c
--->ircumstances unless otherwise required to do so by law.
SOURCE AMP German Cannabis Group Inc.
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