CLVR Clever Leaves Holdings Inc

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a global medicinal cannabis company, announced today that it has been granted Australian GMP certification for its facilities in Colombia by the Therapeutic Goods Administration (TGA), the regulatory body for health products in Australia. This certification authorizes Clever Leaves to manufacture cannabis products for patients in Australia, marking a significant achievement for the multinational operator.

Similar to the stringent standards of the EU-GMP certification, the Australian GMP certification from the TGA ensures the delivery of the highest quality medicinal cannabis to patients. It safeguards against product contamination, variations in compound concentrations, mix-ups, incorrect labeling, and other potential issues. This certification is a prerequisite for the manufacturing and commercialization of cannabis products in the Australian market.

This achievement underscores Clever Leaves' commitment to maintaining premium and high-quality standards in its production processes. Notably, Clever Leaves is distinguished as the first and only medicinal cannabis company globally to hold GMP certifications from the European Union, Colombia, Brazil, and Australia.

Australia, with a population of approximately 26 million, has established a regulatory framework for the use of medical cannabis products under TGO 93 and related regulations. According to official data from the TGA, during the first half of 2023, there were 325,000 new patients reported as having commenced the treatment during this period of time. In 2022, the number of new patients was 320,000 for the full year, and in 2021, this number was 150,000.1 The official data shows that the number of patients is increasing in a sustainable way on a yearly basis.

Andres Fajardo, CEO of Clever Leaves, emphasized the significance of receiving Australian-GMP certification, stating, "The awarding of Australian-GMP certification signifies a major milestone for Clever Leaves by further highlighting our commitment to producing high-quality and safe cannabis products in one of the fastest growing and largest medicinal cannabis markets globally. We will continue distributing through our partners, with whom we are already distributing finished cannabis products to patients in the country.”

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:Julian WilchesChief Regulatory OfficerCo-Founder+1-305-927-6642Julian.wilches@cleverleaves.com

Investor Contacts:Cody Slach or Jackie KeshnerGateway Group, Inc.+1-949-574-3860CLVR@gateway-grp.com

1 https://dashboard-data.health.gov.au/single/?appid=f330a1c6-d805-4c64-a6ef-76a69d32d8b7&sheet=a7cdc199-1658-4c94-87d0-9a3b76c520eb&select=clearall