Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever
Leaves” or the “Company”), a leading multinational
operator and licensed producer of pharmaceutical-grade
cannabinoids, announced it has entered into an active
pharmaceutical ingredient (“API”) supply agreement with CBD Life
Holding SAPI de CV (“CBD Life”), an emerging leader in the Mexican
cannabis industry which offers a line of CBD Wellness and consumer
products and medical cannabis products which are under development.
Under the agreement, Clever Leaves will act as the API supplier for
the development and manufacture of CBD Life’s medical cannabis
products. Commencing with CBD isolate, Clever Leaves aims to be the
ongoing supplier of the required APIs for CBD Life’s product
manufacturing purposes.
The partnership is Clever Leaves’ first
commercial agreement in the Mexican market, and it comes shortly
after regulations were fully approved in the country, providing a
strategic growth opportunity in one of the world’s largest
pharmaceutical markets.
CBD Life has significant distribution in Mexico,
with their products available in more than 18,000 points of sale.
The company has established itself as an early-mover when it comes
to providing cannabis-based products to the Mexican market. It also
has formed strategic alliances with some of Mexico’s largest media
groups and is the first cannabis company to launch a nationwide
advertising campaign for non-psychoactive cannabinoid-based
consumer products.
“As a multinational cannabis operator with
substantial operations in Latin America, it has always been one of
our top goals to identify leaders in the region and build
long-lasting commercial relationships,” said Kyle Detwiler, CEO of
Clever Leaves. “CBD Life’s brand positioning and local exposure are
attractive, but it’s their commitment to high-quality,
pharmaceutical-grade medical cannabis products that makes this an
ideal partnership.”
CBD Life’s current product line is comprised of
topicals (including the traditional Hispanic household brand
“Mariguanol”), beverages, and food supplements infused with
hemp-derived CBD. With a team with more than 40 years of experience
in brand building and pharmaceutical distribution, CBD Life is
strongly positioned to develop and market safe and innovative
cannabis pharmaceutical solutions.
“We feel very fortunate to have the opportunity
to work with Clever Leaves on our mission to develop safe and
accessible pharmaceutical-grade cannabis medications of the highest
quality. Our partnership will further propel our domestic and
international expansion efforts thanks to their unmatched expertise
and certifications that meet the highest standards and regulatory
compliance equivalencies in most countries,” said Janko Ruiz de
Chavez, COO and co-founder of CBD Life.
According to a recent report from Prohibition
Partners for Latin America and the Caribbean (2020), the medical
cannabis market in Mexico could be worth 60 million USD by 2024.
The recent regulatory changes that allow for the production and
commercialization of medical cannabis, as well as stringent
requirements for product commercialization, makes Clever Leaves,
who produces pharmaceutical grade, EU GMP-certified cannabis, an
ideal partner for companies wanting to enter the medical cannabis
space in an effective, agile, and compliant way.
About Clever Leaves
Clever Leaves is a multinational cannabis
company with an emphasis on ecologically sustainable, large-scale
cultivation and pharmaceutical-grade processing as the cornerstones
of its global cannabis business. With operations and investments in
the United States, Canada, Colombia, Germany and Portugal, Clever
Leaves has created an effective distribution network and global
footprint, with a foundation built upon capital efficiency and
rapid growth. Clever Leaves aims to be one of the industry’s
leading global cannabis companies recognized for its principles,
people, and performance while fostering a healthier global
community. Clever Leaves has received multiple international
certifications that have enabled it to increase its export and
sales capacity from its Colombian operations, including European
Union Good Manufacturing Practices (EU GMP) Certification, a Good
Manufacturing Practices (GMP) Certification by Colombia National
Food and Drug Surveillance Institute - Invima, and Good
Agricultural and Collecting Practices (GACP) Certification. Clever
Leaves was granted a license in Portugal from Infarmed – the
Portuguese health authority – which allows Clever Leaves to
cultivate, import and export dry flower for medicinal and research
purposes. In addition, the Portuguese operation was granted
certification of compliance with GACP and
IMC-GAP. https://cleverleaves.com/en/home/.
About CBD Life
CBD Life is the largest distribution and
brand-building company for cannabis derived products in Mexico.
With a presence in more than 18,000 points of sale, CBD Life
focuses on wellness consumer products and pharmaceutical grade
medications. The company’s mission is to provide innovative and
accessible cannabis solutions of the highest quality that promote
healthier lifestyles.
Forward Looking Information
This Press Release includes certain statements
that are not historical facts but are forward-looking statements
for purposes of the safe harbor provisions under the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as “anticipate”,
“believe”, “continue”, “estimate”, “expect”, “forecasts”, “future”,
“intend”, “may”, “outlook”, “plan”, “predict”, “potential”,
“projected”, “seek”, “seem”, “should”, “will”, “would” and similar
expressions (or the negative versions of such words or expressions)
that predict or indicate future events or trends or that are not
statements of historical matters. Such forward-looking statements
are subject to risks and uncertainties, which could cause actual
results to differ from the forward-looking statements. Factors that
may cause such differences include, without limitation,
expectations with respect to future operating and financial
performance and growth, including if or when Clever Leaves will
become profitable; Clever Leaves’ ability to execute its business
plans and strategy and to receive regulatory approvals; potential
litigations; global economic conditions; geopolitical events,
natural disasters, acts of God and pandemics, including, but not
limited to, the economic and operational disruptions and other
effects of COVID-19; regulatory requirements and changes thereto;
and access to financing. The foregoing list of factors is not
exclusive. Additional information concerning certain of these and
other risk factors is contained in Clever Leaves’ most recent
filings with the SEC. All subsequent written and oral
forward-looking statements concerning Clever Leaves and
attributable to Clever Leaves or any person acting on its behalf
are expressly qualified in their entirety by the cautionary
statements above. Readers are cautioned not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. Clever Leaves expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in its expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Press Contacts:
USA:McKenna Miller KCSA Strategic
Communications +1-347-487-6197mmiller@kcsa.com
Diana SigüenzaStrategic Communications
Director+57-310-236-8830Diana.siguenza@cleverleaves.com
Alejandro MontañoInternational Business Director CBD
Life+33767290602amontano@cbdlife.com.mx
Clever Leaves Investor Inquiries: Cody
SlachGateway Investor
Relations+1-949-574-3860CLVR@gatewayir.com
Clever Leaves Commercial Inquiries:Gustavo
EscobarDirector Comercial para América
Latina+57-300-324-5874Gustavo.escobar@cleverleaves.com
Andrew MillerVice President Sales - EMEA, North America, and
Asia-Pacific+1-416-817-1336andrew.miller@cleverleaves.com
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