Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, announced today it has been added to the Cannabis ETF (NYSE: THCX) (“THCX”), which trades on the New York Stock Exchange.
“As one of the few global cannabis operators, inclusion in the Cannabis ETF will allow us to reach a much broader group of investors who are interested in the value that our multinational platform offers,” said Kyle Detwiler, CEO of Clever Leaves. “This milestone comes at the perfect time as we continue to expand our operations and distribution across five continents.”
Listed on NYSE Arca, THCX tracks the Innovation Labs Cannabis Index, which is a modified market capitalization weighted index, with a portfolio of 31 stocks that are expected to benefit from growth of the legal marijuana, CBD and hemp industries. Clever Leaves’ inclusion in the index is part of THCX’s expansion to include various cannabis industry sub-themes, which now includes Clever Leaves’ large-scale, cost-efficient, pharma-grade operations out of Colombia and Portugal, which is intended to appeal to investors who are looking for differentiated exposure outside of a traditional domestic cultivation story.
