ERFURT and BERLIN, Germany, September 8th, 2020 – AMP German Cannabis Group Inc. (“AMP” or the “Company”) (CSE: XCX), (FSE: C4T, ISIN: CA00176G1028), a licenced importer of medical cannabis into Germany, announces a non-brokered private placement financing and granting of stock options both priced at C$0.35 per share.
AMP intends to raise up to C$500,000 in a non-brokered private placement at an issuance price of C$0.35 per share. In connection with the offering, the Company may pay a finder’s fee and warrants to one or more arm’s length parties. All securities issued pursuant to the offering will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws.
Following the expiration of 2,120,000 stock options on September 6th, 2020, AMP granted 985,000 stock options to directors and officers and 1,139,500 stock options to employees and consultants in accordance with the Company’s stock option at an exercise price of $0.35 per share expiring September 8th, 2022, which vest immediately. The Company has 2,495,500 stock options outstanding, representing approximately 10% of the issued and outstanding shares.
About AMP German Cannabis Group
AMP German Cannabis Group is licensed to import European Union – Good Manufacturing Practice (EU-GMP) medical cannabis from Europe and elsewhere into Germany. AMP sources, stores, transports and delivers and sells medical cannabis products to pharmaceutical distributors or pharmacists directly, the only point-of-sale for medical cannabis to German patients with a physicians prescription.
AMP has entered into a non-exclusive distribution agreement for medical cannabis with a leading distributor of pharmaceuticals products to more than 13,000 pharmacies throughout Germany. AMP imports medical cannabis from the Netherlands and from Canada.