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AMP Alternative Medical Products Closes Oversubscribed Non-Brokered Private Placement

irwpresse_en 
0 0 11.02.21
AMP Alternative Medical Products Closes Oversubscribed Non-Brokered Private Placement
 

 

ERFURT and BERLIN, Germany, February 10th, 2021, AMP Alternative Medical Products Inc. (Formerly AMP German Cannabis Group Inc.) (“AMP”) (CSE: XCX), (Frankfurt: C4TA, ISIN: CA0318961038), a licenced importer of medical cannabis into Germany, announces the closing of its non-brokered private placement.

 

AMP raised gross proceeds of $1,693,300 through the issuance of 3,386,600 common shares at a subscription price of $0.50 per share of which AMP’s insiders subscribed for $250,000 of the private placement. AMP paid a finders’ fee of $52,465 and issued 104,930 finders’ warrants, where each finders’ warrant entitles the holder to acquire one additional common share at a price of $0.50 per share for a period of six months from the date of issuance. Securities issued are subject to a four-month hold period expiring June 10, 2021.

 

Net proceeds will be used for general corporate purposes.

 

About AMP Alternative Medical Products

 

Headquartered in Germany, AMP is licensed to import European Union - Good Manufacturing Practice (EU-GMP) medical cannabis from Europe and elsewhere into Germany. AMP sources, stores, transports, 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 physician’s prescription.

 

AMP has sponsored a six-episode roundtable discussion series about medical cannabis in Germany. The Roundtable Series is available by podcast or video. In Episode #2 titled “Politics and Medical Cannabis in Germany” Dr. Wieland Schinnenburg, MdB (FDP), provides an up-to-date overview of the political issues and challenges facing the medical cannabis industry in Germany. The panel also includes Dr. Stefan Feuerstein, President of AMP and Mr. Holger Scholze as moderator.

 

AMP Roundtable Series: www.amp-eu.de/roundtable

 

For more information, please visit: www.amp-eu.com

Mr. Alex Blodgett, CEO and Director

Email: [email protected]

 

AMP social media links:

-          Twitter: https://twitter.com/AMP_Cannabis

Media Kit: https://www.amp-eu.com/media-kit

 

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.

 

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 Alternative Medical Products Inc.

 

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