Clever Leaves Holdings Inc. (NASDAQ: CLVR) (“Clever Leaves”
or the “Company”), a leading multi-national operator and
licensed producer of pharmaceutical-grade cannabinoids, today
announced an agreement with Verdemed Holdings Inc. (“Verdemed”), a
Latin American pharmaceutical cannabis company based in Toronto,
Canada, to supply finished CBD products for the Brazilian and
Peruvian markets. The initial portfolio of products includes
finished formulations of CBD oral solutions with different
concentrations used for different indications.
Verdemed supplies cannabis products in Brazil
under the compassionate use model and has submitted applications to
register finished products in Brazil and Peru. The products
manufactured under this partnership will be registered as
pharmaceutical products and sold into distribution channels such as
pharmacies and drugstores.
“Verdemed is an important player in the
Brazilian market with existing access to patients and is
well-positioned to tackle the high regulatory hurdles in Brazil and
Peru. This partnership expands Clever Leaves’ presence in one of
the largest markets in South America,” said Kyle Detwiler, CEO of
Clever Leaves. “We are committed to increasing access for the
millions of patients within the growing Brazilian and Peruvian
markets, and they will soon have access to the high-quality
products we produce thanks to Verdemed’s network.”
“Partnering with Clever Leaves aligns with
Verdemed’s mission to offer the best cannabinoid products to all
Latin Americans,” said José Bacellar, CEO of Verdemed. “Clever
Leaves’ products meet all of the regulatory and product quality
standards in each of our key markets, and their EU GMP and INVIMA
GMP certifications distinguish their products and bring higher
value to patients.”
The Brazilian and Peruvian markets are
expanding, and it is estimated that the Brazilian medical cannabis
user base could reach close to 3 million people in the next few
years. According to Prohibition Partners, with a population of 32
million, Peru’s medical cannabis market is estimated to be worth
approximately $100 million. As of September 2020, almost 8,000
patients were registered in the DIGEMID, Peru’s drug regulatory
authority database.
About Verdemed Holdings
Inc.Verdemed brings affordable cannabinoid-based
pharmaceuticals to doctors and patients in Latin America, in all
countries, in all jurisdictions legally authorized to sell medical
cannabis. The company’s initial focus is on product formulations of
cannabinoid pharmaceuticals currently available in Canada, Europe,
and the USA.
Verdemed established a wholly-owned,
active-controlled substances pharmaceutical import laboratories in
Brazil and Peru, which are registered in compliance with Anvisa and
DIGEMID for cannabis-derived products. Its goal is to scale-up
exclusive strategic supply chain partnerships with GMP-certified
API providers for the industrial production of pharmaceutical grade
CBD oil formulations.
About Clever Leaves Holdings Inc.
Clever Leaves is a multi-national 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.
For more information, please visit
https://cleverleaves.com/en/home/ and follow us on LinkedIn.
Forward-Looking Statements
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;
access to additional financing; demand for Clever Leaves’ products
and Clever Leaves’ ability to meet demand for its products and
negotiate agreements with existing and new customers; developing
product enhancements and formulations with commercial value and
appeal; weather and agricultural conditions and their impact on
cultivation and construction plans. 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.
Clever Leaves Press Contacts:McKenna
Miller KCSA Strategic
Communications +1347-487-6197mmiller@kcsa.com
Diana SigüenzaStrategic Communications
Director+57310-236-8830Diana.siguenza@cleverleaves.com
Clever Leaves Investor Inquiries: Sean
Mansouri, CFA, or Cody SlachGateway Investor
Relations+1949-574-3860CLVR@gatewayir.com
Clever Leaves Commercial inquiries:Andrew
MillerVice President Sales - EMEA, North America, and
Asia-Pacific+1416-817-1336andrew.miller@cleverleaves.com
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