BERLIN, Nov. 3, 2021 /CNW/ - AMP Alternative Medical Products Inc. (Frankfurt: C4TA) (ISIN: CA0318961038) (CSE: XCX), (the "Company") announces it has acquired Greenrise GmbH ("Greenrise Wellbeing") from its founders, Messrs. Hendrik Knopp, Florian Witt and Alex Hintz. Mr. Hendrik Knopp has been appointed to the board of directors, Mr. Florian Witt has been appointed as Chief Operating Officer and Mr. Alex Hintz as Chief Product Officer.
Furthermore, the Company has changed its name to Greenrise Global Brands Inc. ("Greenrise Global") which reflects the growth opportunities through the Company's CBD wellness, medical and emerging recreational cannabis operations in Germany under one company brand.
Mr. Hendrik Knopp is an accomplished cannabis entrepreneur and was a founder of Nuuvera Inc. which was acquired by Aphria Inc. and led the team that built the first German cultivation facility producing medical cannabis for the German Cannabis Agency (BfArM).
Messrs. Witt and Hintz are both highly experienced executives with strong sales, marketing, operations, and regulatory experience in the German cannabis industry, having previously worked with Aphria Wellbeing GmbH and EMMAC Deutschland GmbH.
Greenrise Global helps Germans benefit from the wellbeing benefits of cannabis through its CBD wellness and medical cannabis businesses.
Greenrise Wellbeing is a CBD wellness company whose brands include Herbify and CANAVEX®. Herbify is a CBD-based cosmetics and wellness product which will be sold in retail and online (www.herbify.de). CANAVEX® is a therapeutic CBD cosmetic brand sold exclusively in German pharmacies (www.canavex.de).
Greenrise Wellbeing will be launching additional brands for vapes, liquids, topicals, and cosmetics as the CBD market develops, accompanied by unique and innovative multi-channel content and social media marketing strategies.
AMP Alternative Medical Products GmbH ("AMP") is a pharmaceutical supplier of medical cannabis products to pharmacies generating sales from imported medical cannabis products from Aphria, Bedrocan and Little Green Pharma, in addition to AMP's own branded products sold through AMP's nationwide sales team.
AMP's focus is to meet the patients' needs by ensuring a broad range of cannabis medication products are available in pharmacies across Germany for prescription fulfilment, which requires strong and deep relationships with doctors and pharmacists. AMP has invested the time and effort to build a nationwide sales team trained on the medical benefits of cannabis and have a complete portfolio of medical cannabis products to sell. AMP nationwide storage and distribution system to pharmacies ensure that patients' prescriptions are filled.
Dr. Stefan Feuerstein, President and Director, said: "This strategic and timely acquisition allows the Company to expand into the lucrative CBD wellness space, which increases our scale and operating capabilities and is anticipated to lead to strong sales and overall financial performance. Equally important is the addition of one of the leading cannabis teams lead by Mr. Knopp which increases our innovation and management capabilities allowing us to accelerate our entry into the emerging recreational cannabis market in Germany."
Mr. Hendrik Knopp, Director commented: "Greenrise Global is perfectly positioned to actively participate and grow sales in all aspects of the legal cannabis markets in Germany, especially the pending recreational market. The Greenrise Global team has the operational, regulatory and political experience that few other German companies can match to take advantage of these opportunities."
Transaction Highlights
- The Company has issued 4,290,000 common shares valued at C$1,458,600 or C$0.34 per share for the purchase of Greenrise GmbH to Messrs. Knopp, Witt and Hintz's German holding company, resulting in the executives indirectly owning 12% of the Company, post-acquisition. The shares will be subject to an escrow hold period.
- The Canadian Securities Exchange (the "CSE") will publish a bulletin announcing the effective date of the change in the Company's name, and it is anticipated that the common shares of the Company will commence trading under its new name of "Greenrise Global Brands Inc." on or about Monday, November 8, 2021, subject to approval from the CSE.
- The Company's trading symbol on the CSE will not change. The CUSIP and ISIN numbers will change to 39540L108 and CA39540L1085, respectively.
- The Frankfurt Stock Exchange will announce its new trading symbol for Greenrise Global Brands Inc. in due course.
About Greenrise Global Brands Inc. (formerly AMP Alternative Medical Products Inc.)
Greenrise Global helps Germans benefit from the wellbeing benefits of cannabis. Greenrise Global is a publicly listed Canadian incorporated company with a representative office in Berlin with two German operating subsidiaries, Greenrise GmbH ("Greenrise Wellbeing") and AMP Alternative Medical Products GmbH ("AMP"). Greenrise Wellbeing is based in Hamburg and is a CBD wellness company whose brands include Herbify and CANAVEX®. AMP is based in Erfurt and supplies medical cannabis products to pharmacies across Germany and operates in accordance with the German Narcotic Drug Act (BtMG) and with the regulatory requirements set by the Free State of Thuringia, ensuring products imported by AMP from around the world and sold in Germany meet the European Union - Good Manufacturing Practice (EU-GMP) standard.
For more information about Greenrise Global, please visit www.greenriseglobal.com.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accept 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 do not guarantee 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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