CLVR Clever Leaves Holdings Inc

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a global medicinal cannabis company, announced today that it has entered into a five-year agreement with SOMAÍ Pharmaceuticals, to supply its operations in Portugal with EU-GMP certified CBD extracts from Colombia.

With the first shipments under the agreement already completed, Clever Leaves will continue to supply EU-GMP pharmaceutical-grade APIs and CBD extracts, produced in the Company’s facility in Colombia, to SOMAÍ for further processing into finished products for patients across Europe. Positioned to be one of the largest players in Europe’s medical cannabis market, SOMAÍ’s goal is to design new dosage forms that deliver consistent quantities of active ingredients to patients by going beyond conventional drug delivery systems. These are the first commercial shipments Clever Leaves has sent to Portugal, adding to the more than 15 countries that Clever Leaves has exported to from its European Union Good Manufacturing Practices (EU-GMP) certified facility in Colombia.

“By combining our expertise in producing and developing high-quality pharmaceutical-grade products with SOMAÍ's innovative approach to drug delivery systems, we aim to streamline patient access to pharmaceutical-grade cannabis products throughout Europe. This collaboration signifies Clever Leaves’ commitment to shaping the future of the global medical cannabis industry and grows our position in Europe's rapidly expanding medical cannabis market,” said Andres Fajardo, CEO and Co-Founder of Clever Leaves.

“SOMAÍ Pharmaceuticals embarked on an extensive quest to seek a formidable partner to launch one of the most comprehensive cannabis product lines for the flourishing European markets. We are proud to be working with the highly professional Clever Leaves team and are most impressed with the high-quality EU-GMP CBD extract. We look forward to further collaborations with Clever Leaves to propel our product lines with even more advanced formulations and delivery methods,” said Michael Sassano, CEO and Founder of SOMAÍ Pharmaceuticals.

Having recently received its fifth GMP certification, Clever Leaves is the first and only medicinal cannabis company globally with GMP certifications from the EU, Colombia, and Brazil. Clever Leaves has the ability to ship high-quality pharmaceutical-grade products from its world-class facility in Colombia that meets all regulatory standards throughout Europe.

About Clever Leaves Holdings Inc.Clever Leaves is a global medicinal cannabis company. Its operations in Colombia 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/

Press Contacts:Maria PetsanasKCSA Strategic Communicationscleverleaves@kcsa.com +1 917-692-6673

Commercial Contact:Andrew MillerHead of Global Business DevelopmentAndrew.miller@cleverleaves.com+1 416-817-1336

About SOMAÍ Pharmaceuticals Ltd. SOMAÍ Pharmaceuticals is a large-scale manufacturer of cannabis products concentrating on the highest quality medical-grade pharmacological applications. The company invests in the extraction, research, development, formulation, and distribution of EU GMP-pharmaceutical market-authorized cannabinoid products. SOMAÍ is committed to revolutionizing healthcare through cannabis-based treatments. For more information, please visit SOMAÍ’s website. You can read SOMAÍ’s and CEO Michael Sassano’s articles here.

Press Contacts:Nataliia GarninaMarketing Manager+351 963 551 216ng@somaipharma.eu

Commercial Contact:George BellowChief Operational OfficerGeorge@somaipharma.eu +33 6 5245 6201