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Enter Symbol
or Name
USA
CA



AMP German Cannabis Group Inc
Symbol XCX
Shares Issued 20,217,796
Close 2019-10-15 C$ 0.21
Market Cap C$ 4,245,737
Recent Sedar Documents

AMP German enters distribution deal with CC Pharma

2019-10-15 17:00 ET - News Release

Mr. Alex Blodgett reports

AMP GERMAN CANNABIS GROUP SIGNS DISTRIBUTION AGREEMENT WITH CC PHARMA, A WHOLLY OWNED SUBSIDIARY OF APHRIA AND A LEADING PHARMACEUTICAL AND MEDICAL CANNABIS DISTRIBUTER IN GERMANY

AMP German Cannabis Group Inc., through its wholly owned subsidiary AMP Alternative Medical Products GmbH, has entered into a four-year, non-exclusive distribution agreement with CC Pharma GmbH, a leading distributer of European Union pharmaceutical products to more than 13,000 pharmacies throughout Germany. The agreement provides for monthly shipments of imported European Union-good manufacturing practice (EU-GMP) certified medical cannabis products starting in mid-2020 upon AMP fulfilling the contract's preconditions, including receiving a narcotic licence to import and distribute EU-GMP cannabis in Germany.

AMP has entered into two supply contracts and is in discussions with several Canadian producers for EU-GMP certified cannabis for import into Germany from Canada.

Founded in 1999, CC Pharma has more than 230 employees and offices in Germany, Denmark, Poland and the Czech Republic, and holds 318 active German national pharmaceutical licences and 692 active EU pharmaceutical licences. During 2018, CC Pharma generated revenue of approximately 262 million euros and EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately 10.5 million euros. CC Pharma established a division dedicated to medical cannabis since being acquired by Aphria Inc. in early 2019.

Management quotes

Dr. Stefan Feuerstein, managing director of AMP Germany, commented: "AMP appreciates the opportunity to supply CC Pharma, the leading medical cannabis distributer in Germany, with imported EU-GMP certified medical cannabis cultivated in Canada. This strategic relationship will establish AMP as an important importer of medical cannabis into Germany in the future."

Dr. Manfred Ziegler, managing director of CC Pharma, commented, "We are very pleased to have chosen AMP as they will have the ability to supply CC Pharma with medical cannabis from Canada."

Alex Blodgett, chief executive officer of AMP German Cannabis Group, commented: "Currently, only three Canadian and one Dutch producer of EU-GMP medical cannabis supply the German market in a meaningful way. As an importer, AMP can increase its supply by entering into additional supply agreements with Canadian licensed producers to meet the growing German demand without bearing the production expansion costs that its competitors will incur."

About AMP German Cannabis Group Inc.

AMP German Cannabis Group is the parent company of several European investment subsidiaries focusing on the import of pharmaceutical-grade (EU-GMP) cannabis into Germany, predominantly from Canada. AMP provides EU-GMP gap analysis and audits, and logistical, transportation and other related services for the importation of medical cannabis into Germany through its AMP EU-GMP German certification protocol program.

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