Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, today announced that the Colombian Technical Quotas Group (“TQG”) authorized Clever Leaves’ Colombian operations to manufacture up to approximately 59,000 kilograms of cannabis into dried flower derivatives. According to the International Narcotics Control Board’s publicly disclosed data, Clever Leaves’ total allocation represents 50% of Colombia’s total quota and approximately 18% of the world’s legal medical cannabis production quota for 2021.
The new 2021 production quota authorizes Clever Leaves to extract medical cannabis and the total quantity allocated to their company is forecasted to be sufficient towards meeting the aggregate international demand for Clever Leaves’ products. To date, Clever Leaves has successfully exported to more than 15 countries including Australia, Brazil, Canada, Chile, the Czech Republic, Germany, Italy, Israel, Netherlands, New Zealand, Perú, Poland, Spain, South Africa, the United Kingdom, and the United States.
“We are extremely satisfied with the quota that we have been awarded for 2021 and would like to thank the Colombian government and all entities involved for their continued support. We are very proud of the positive economic impact that we have made in Colombia, and we greatly value the partnerships that we have created with local and global regulatory agencies, governments, and businesses which have fueled our ability to create quality medical cannabis products, and in turn, improve the lives of many patients around the world,” said Kyle Detwiler, CEO of Clever Leaves.
Clever Leaves was granted EU GMP certification in July 2020, establishing Clever Leaves’ facilities in Colombia as the first and only cannabis operation to be granted EU GMP certification in Latin America and one of a select few in the world. The certification, which is generally required to import medical cannabis products into the European Union, allows Clever Leaves to produce APIs, semi-finished and finished products to be distributed through pharmaceutical channels. Additionally, in August 2020, Clever Leaves was granted a provisional license in Portugal from Infarmed, the Portuguese health authority, allowing the Company to cultivate, import and export dry flower for medicinal and research purposes.
