Greenrise Global Brands Inc. (Frankfurt: C4T) (ISIN: CA39540L1085) (CSE: XCX) (“Greenrise Global”) is pleased to provide a year-end letter to its shareholders.
Dear Fellow Shareholders,
Germany’s time has come.
The formation of the German government this month confirmed that recreational cannabis for adult use would become a reality in the near future, making Germany the first European Union country in the Group Seven (G7) to legalize medical, CBD and recreational use of cannabis fully.
Greenrise Global Brands is one of the few listed companies that is focused on cannabis in Germany. Our strategy is to be a leader in all legal parts of cannabis in Germany through our operating wholly-owned subsidiaries, Greenrise Life GmbH, Greenrise (Wellbeing) GmbH and AMP Alternative Medical Products GmbH.
We formed Greenrise Life to lead our efforts in entering the recreational use market. In the upcoming year, Greenrise Life will be active in trying to support the policy as the German government enacts the required laws and policies. AMP’s national sales team distributes medical cannabis products to clinics and pharmacies and may be important in distributing recreational cannabis to consumers if pharmacies are considered as a possible licensed dispensary.
To further the discussion, Greenrise’s next episode in its Cannabis Round Table Series to be released in early 2022 will discuss the new government’s approach toward recreational cannabis with members of the coalition parties and moderated by Dr. Wieland Schinnenburg, MdB, a former spokesman for drug and addiction policy of the Free Democratic Party (FDP) and a well-respected medical cannabis expert.
During the year, Greenrise Wellbeing, our CBD cannabis and wellness subsidiary, launched Herbify, an oral cosmetic CBD brand sold online and Canavex® which is designed to be taken with medical cannabis prescriptions and sold through pharmacies and in drugstores next year. Greenrise Wellbeing anticipates strong consumer demand for CBD wellness products in the coming years as there will be clarity on what products can be sold in Germany that meet the EU Novel Food authorization.
Greenrise Wellbeing’s goal for the next year is to substantially grow sales through online and retail sales channels of its brands and strategically acquire CBD brands that are financially accretive and meet the Novel Food authorization requirements in Germany.
Greenrise’s medical cannabis subsidiary, AMP, has built a strong reputation by supplying German patients with the highest quality medical cannabis products available. AMP’s strength is having front-line relationships with doctors and pharmacies, the only point-of-sale for medical cannabis to patients.
AMP has built a national sales team specially trained to sell medical cannabis products, which generated approximately €500,000 in sales in its first year as an operating company selling Aphria and Bedrocan flowers as well as Aphria and Little Green Pharma extracts. AMP will be introducing its Dronabinol product to the market early next year in addition to other pharmaceutical products as the medical market moves away from flower.
The pandemic has affected our sales team’s ability to meet with doctors whose time was either limited or restricted due to this special situation. Next year, AMP’s goal is to ensure it has enough supply of products and continue to train its sales team to meet the expected prescription demand when the pandemic either temporarily or finally resides. AMP continues to invest and advance its research into the efficacy and safety of medical cannabis with Waldhausklinik Deuringen gGmbH, a non-profit acute care clinic for internal medicine in the Free State of Bavaria, to help further education among doctors.