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AMP German Cannabis Group Signs Distribution Agreement with CC Pharma
Oct. 15, 2019 02:50PM PST
Cannabis Investing NewsAMP to supply the growing Germany market with pharmaceutical medical cannabis imported from Canada
AMP German Cannabis Group Inc. (“AMP”) (CSE:XCX, Frankfurt:C4T, ISIN:CA00176G1028) through its wholly-owned subsidiary AMP Alternative Medical Products GmbH (“AMP Germany”) has entered into a four-year, non-exclusive, distribution agreement with CC Pharma GmbH (“CC Pharma”), a leading distributer of EU-pharmaceuticals 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 (www.cc-pharma.com) has more than 230 employees and offices in Germany, Denmark, Poland and the Czech Republic and holds 318 active German national pharmaceutical licenses and 692 active EU pharmaceutical licenses. During 2018, CC Pharma generated revenue of approximately €262 million and EBITDA of approximately €10.5 million. CC Pharma established a division dedicated to medical cannabis since being acquired by Aphria Inc. (NYSE:APHA,TSX:APHA) 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, CEO 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 licenced 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, logistical, transportation and other related services for the importation of medical cannabis into Germany through its AMP EU-GMP German Certification Protocol Program.
For more information, please visit: www.amp-eu.com
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Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements
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.
SOURCE AMP German Cannabis Group Inc.
For further information: Mr. Alex Blodgett, CEO and Director, Telephone: +236-833-1602, Canada: investor@amp-eu.com, Germany: investor@amp-eu.de,