BERLIN, Germany – January 28th, 2022, Greenrise Global Brands Inc. (Frankfurt: C4T, ISIN: CA39540L1085) (CSE: XCX) (“Greenrise Global” or “the Company”), a distributor of medical and CBD wellness cannabis products in Germany announces that its subsidiary, AMP Alternative Medical Products GmbH, has entered into a drawdown loan facility for 500,000 Euro (the “Loan”) with a private lender (“Lender”). The Loan carries an interest rate of 5% per annum and is secured by the Company’s shares in AMP as well as AMP’s trademarks and is due on December 31, 2022.
The net proceeds from the loan will be used by AMP for general working capital purposes.
About Greenrise Global Brands
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 Alternative Medical Products GmbH 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 sales 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:
Hendrik Knopp, Director
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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.