- AMP German Cannabis Group (XCX) has placed two bulk orders for EU-GMP medical cannabis flower from a Canadian Licensed Producer
- The first order is for 50 kilograms of EU-GMP cannabis, which the company will import to Germany in September 2020
- The second order is for a further 100 kilograms, which AMP will purchase and import in January and February of 2021
- The company plans to expand its supply agreement for large-volume purchases of medical cannabis and extracts in the future
- AMP German Cannabis Group (XCX) is down 1.43 per cent and is currently trading at C$0.34 per share
AMP German Cannabis Group (XCX) has placed two bulk orders for EU-GMP medical cannabis flower from a Canadian Licensed Producer.
The first order is for 50 kilograms of finished EU-GMP medical cannabis flower. The company will purchase and import the first round in September of this year.
The second order is for a further 100 kilograms of finished EU-GMP medical cannabis flower. AMP German Cannabis will purchase and import the second round in January or February of next year.
In today’s announcement, the company did not divulge the name of the Canadian Licensed Producer of medical cannabis. However, AMP did reveal that the producer operates an indoor growing and processing facility in Canada.
Apparently the Canadian producer gained the EU-GMP certification from German authorities earlier this year.
AMP German Cannabis has indicated that the company and its licensed producer will expand their supply agreement in the future. The supply agreement will specifically apply to monthly large-volume purchases of medical cannabis, as well as extracts.
AMP’s President, Dr Stefan Feuerstein, commented on the reasons behind the company’s purchase of additional cannabis flower. He also revealed AMP’s plans for the year ahead.
“We are seeing a stronger than anticipated demand for medical cannabis in the German marketplace, and Canada is one of a few credible suppliers to Germany in the short term.
“Demand from German pharmacies is so high that AMP will be adding pharmaceutical distributors across Germany that focuses solely on medical cannabis in the upcoming weeks.
“Our goal is to become a major importer to Germany by the end of 2021,” he said.
AMP German Cannabis Group (XCX) is down 1.43 per cent and is trading at C$0.34 per share at 2:48pm EDT.