BERLIN, Germany – November 30th, 2021, Greenrise Global Brands Inc. (formerly AMP Alternative Medical Products Inc.) (Frankfurt: C4T, ISIN: CA39540L1085) (CSE: XCX) (“Greenrise Global”) is pleased to announce that it has increased the size of its previously announced non-brokered private placement on November 22nd, 2021, from C$350,000 to up to C$1,050,000 (“Offering”). The Company will now issue up to 3,000,000 units of the Company at a purchase price of $0.35 per unit.
Each unit will be comprised of one common share (“Common Share”) of the Greenrise Global and one share purchase warrant (“Warrant”), exercisable for one Common Share at an exercise price of C$0.60 at any time up to twelve months following the closing date of the Offering (“Unit”). The Warrants will also be subject to an acceleration clause whereby, in the event the volume weighted average trading price of the Common Shares on the Canadian Stock Exchange (“CSE”), or any other stock exchange on which the Greenrise Global’s Common Shares are then listed is equal to or greater than C$0.75 for a period of twenty consecutive trading days, Greenrise Global will have the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants that the Warrants will expire on the date that is not less than thirty days from the date notice is provided by Greenrise Global to the Warrant holders.
In connection with the offering, Greenrise Global may pay a finder’s fee and issue warrants to one or more arm’s length parties. Each finders’ warrant entitles the holder to acquire one additional common share at a price of C$0.35 per share for a period of six months from the date of issuance (“Finder’s Warrant”).
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.
The net proceeds received from the Offering are expected to be used for general working capital purposes and product development.
In addition, Greenrise Global has closed the first tranche of its non-brokered private placement raising gross proceeds of C$442,200.00 through the issuance of 1,263,428 Units. Greenrise Global paid a finders’ fee of C$30,954 and issued 88,439 Finder Warrants.
Greenrise Global also announces that it has granted incentive stock options to purchase 504,000 Common Shares of Greenrise Global splits evenly between Messrs. Hendrik Knopp, Alex Hintz and Florian Witt in accordance with its stock option plan.
Each stock option vests immediately, has an exercise price of C$0.43 per share and expires on November 30th, 2024. Following the grant, Greenrise Global will have 3,543,500 options issued an outstanding, representing approximately 10% of Greenrise Global’s shares outstanding.
About Greenrise Global Brands Inc.
Greenrise Global helps people realize the beneficial properties of cannabis. Greenrise Global is a Canadian publicly traded corporation with two German operating subsidiaries: Greenrise GmbH (“Greenrise Wellbeing”) and AMP Alternative Medical Products GmbH (“AMP”). Greenrise Wellbeing is a CBD wellness firm based in Hamburg, with brands including Herbify and CANAVEX® in its portfolio. AMP is based in Erfurt and supplies medical cannabis products to pharmacies across Germany, including medical cannabis brands from Aphria, Bedrocan, Little Green Pharma and AMP’s branded line of products and sold through its nationwide sale team. AMP complies with the German Narcotic Drug Act (BtMG) and the Free State of Thuringia’s regulatory requirements, ensuring that products imported from around the world and sold in Germany meet the European Union’s Good Manufacturing Practice (EU-GMP) standard.
For more information about Greenrise Global, please visit www.greenriseglobal.com
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GREENRISE GLOBAL CONTACT:
Valeria Bravo, Corporate and Media Communications
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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 Greenrise Global Brands Inc.