CLVR

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced today that its partner, Peruvian medicinal cannabis company Anden Naturals, has obtained the sanitary registration for the finished product, “Andenol 50,” a 5% THC dominant oral solution produced by Clever Leaves in Colombia and sold under the Anden Naturals brand in Peru.

Andenol 50, is Anden Naturals’ first THC dominant product to obtain sanitary registration for its commercialization as a finished product and is considered to be a “phytotherapeutic” product, by the Peruvian health authority and indicating passage of all quality inspections. Anden Naturals manufactures and markets medicinal cannabis products in Peru through magistral formulations as well as finished products imported from other countries. The company distributes medical cannabis products through its own pharmacies in the country.

Obtaining this sanitary registration of a THC dominant finished product reflects both the unmatched quality of the medical cannabis cultivated by Clever Leaves and Clever Leaves' rigorous product development processes.

“Our purpose at Clever Leaves is to produce the highest quality medical cannabis products for ourselves, our partners, and most importantly, for the millions of medical cannabis patients worldwide. The fact that Anden Naturals is the very first to obtain this sanitary registration in Peru is further proof that we are living up to our incredibly high standards and those of patients across the globe,” said Andres Fajardo, CEO of Clever Leaves. “Due to the product’s higher THC content, authorities are more demanding in granting the registration and there is greater control over its use, prescription, and commercialization. We are proud to be the leader in setting the standard for every market in which we operate.”

“With the addition of this high THC product, we can now offer a complete portfolio of products to our patients, offering the most robust and diversified portfolio in Peru. We are excited to have partnered up with Clever Leaves to produce Andenol 50, as we wanted to offer the highest possible quality to our patients. They have been a pleasure to work with and we are extremely happy with the attention to detail they have shown throughout the registration process.”

The initial shipment of 1,000 units is set for Q1 of 2023 and the potential market is expected to be 30,000 registered patients, according to data as of August 2022.

About Clever Leaves Holdings Inc.

Clever Leaves is a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids. Its operations in Colombia and Portugal produce cannabinoid active pharmaceutical ingredients (API) and finished products ​in flower and extract form to a growing base of B2B customers around the globe. Clever Leaves aims to disrupt the traditional cannabis production industry by leveraging environmentally sustainable, ESG-friendly, industrial-scale and low-cost production methods, with the world’s most stringent pharmaceutical quality certifications. For more information, please visit https://cleverleaves.com/en/home/ and follow Clever Leaves on Twitter and LinkedIn.

About Anden NaturalsAnden Naturals is 100% Peruvian owned and operated, a duly licensed producer and importer of high-quality cannabis products, offering the most robust and diversified portfolio of products in Peru. Anden Naturals operates in both the US and Peru. They have launched the first of its kind cannabis dispensary, offering finished products as well as magistral formulations. Anden Naturals has the biggest presence in Peru, having their products in over 45 retail locations. Learn more about Anden Naturals visiting www.andennaturals.com and www.shopanden.com. 

Press Contacts:Rich DiGregorioKCSA Strategic Communications+1-856-889-7351cleverleaves@kcsa.com

Clever Leaves Commercial Inquiries:Andrew Miller Head of Business Development+1-416-817-1336andrew.miller@cleverleaves.com

Clever Leaves Investor Inquiries:Cody Slach and Jackie KeshnerGateway Group, Inc. +1-949-574-3860CLVR@gatewayir.com