AMP German Cannabis Group (CSE: XCX) (Frankfurt: C4T) has signed a cannabis supply agreement with a Canadian company.
Under the non-binding memorandum of understanding, AMP will purchase up to 1,200 kilograms of either branded or white-labeled European Union-Good Manufacturing Practice (EU-GMP) medical cannabis flower annually from an Alberta-based supplier.
The Alberta-based supplier, whose name was not disclosed, has a cultivation and processing licence from Health Canada and is seeking a sales licence to begin exports. The companies will begin imports upon the company supplier receiving the sales licence from Health Canada and receiving EU-GMP certification by German State officials.
EU-GMP certification is an internationally recognized system that ensures all pharmaceutical goods, including medical cannabis, meet the highest consumer health and safety standards.
Canadian licensed producers of cannabis production and operating processes do not meet EU-GMP standards and need to be upgraded and receive EU-GMP certification from a German State before being able to export to Germany.