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AMP German Cannabis Group Inc
Symbol XCX
Shares Issued 20,217,796
Close 2019-11-15 C$ 0.22
Market Cap C$ 4,447,915
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AMP German receives import licence for medical pot

2019-11-18 07:13 ET - News Release

Mr. Alex Blodgett reports

AMP GERMAN CANNABIS GROUP RECEIVES AN IMPORT LICENCE FOR MEDICAL CANNABIS FROM THE GERMAN STATE OF THURINGIA

The Thuringian State Office for Consumer Protection (Thueringer Landesamt fuer Verbraucherschutz) (TLV) has granted an import licence for cannabis products for medical purposes for Germany according to Section 72 of the German Medicine Law (Arzneimittelgesetz -- AMG) to Alternative Medical Products GmbH (AMP Germany), a wholly owned subsidiary of AMP German Cannabis Group Inc.

The TLV deals with fundamental matters of economic consumer protection and consumer policy for the Free State of Thuringia in Germany.

The import licence allows AMP to import medical cannabis purchased from outside the European Union into Germany. Once imported into Germany, AMP sells the European Union-good manufacturing practices (EU-GMP) medical cannabis flower to pharmaceutical distributers which supply to German pharmacists. AMP's supply chain across Germany is currently being EU-GMP audited to ensure the quality and integrity of the medical cannabis are maintained during transportation, warehousing, testing and distribution. This audit should be successfully finalized before year-end.

AMP has entered into supply agreements to purchase collectively 2,400 kilograms of EU-GMP medical cannabis annually from two producers once they have obtained their Health Canada sales licence and received EU-GMP certification from TLV. AMP has entered into a multiyear distribution agreement for the sale of 1,200 kg annually in the first year of EU-GMP medical cannabis with a German pharmaceutical distributor. AMP anticipates entering into additional supply and pharmaceutical distribution agreements before year-end.

Dr. Stefan Feuerstein, managing director of AMP Germany, commented, "AMP receiving its import licence according to paragraph 72 AMG (German Medicine Law) after a stringent audit is an important step to be fully capable to import EU-GMP medical cannabis into Germany."

Alex Blodgett, chief executive officer of AMP, commented: "AMP has put all the pieces together for it to be one of the first significant importers of medical cannabis to Germany that is not involved in cultivation. In the near future, we plan to enter into additional supply agreements for EU-GMP medical cannabis for the growing German market from international partners."

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. AMP provides EU-GMP gap analysis and audits, 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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