22:03:53 EDT Sat 04 May 2024
Enter Symbol
or Name
USA
CA



AMP German Cannabis Group Inc
Symbol XCX
Shares Issued 20,217,796
Close 2020-04-03 C$ 0.24
Market Cap C$ 4,852,271
Recent Sedar Documents

ORIGINAL: AMP German increases loan facility to one million euros

2020-04-03 16:45 ET - News Release

Received by email:

File: '\\doc\emailin\20200403 133721 Attachment XCX_Trade Finance and Series B private placement closing_EN_03apr20.do
--->cx'








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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