Clever Leaves Exports Its First Commercial Shipment of THC Flower to the United States to Biopharmaceutical Research Company
Clever Leaves Holdings (NASDAQ: CLVR, CLVRW) announced the successful export of 30 kg of high-THC cannabis flower from Portugal to Biopharmaceutical Research Company (BRC), a DEA-licensed firm in the U.S., marking a significant milestone in entering the U.S. cannabis market. This shipment, compliant with pharmaceutical standards, will support BRC’s projects in plant-based therapeutics. The companies have fostered a partnership through Project Change Lives, aimed at advancing medical cannabis research with a projected contribution of up to $25 million.
- First company to export THC flower from Portugal to the U.S.
- Strengthens entry into the U.S. cannabis market, the largest globally.
- Partnership with BRC enhances research and development capabilities.
- None.
NEW YORK, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced today the exportation of 30 kg of high-THC cannabis flower from its Portugal facility to Biopharmaceutical Research Company (“BRC”), a DEA-licensed pharmaceutical company that develops federally compliant active pharmaceutical ingredients (API) for plant-based therapeutics in the United States. Not only does this fortify Clever Leaves’ entrance into the U.S. and solidify BRC’s ability to transact internationally, but it positions the two organizations as some of the first companies ever to commercially ship dried cannabis flower from Portugal to the U.S.
Under the agreement, Clever Leaves’ product, which meets strict pharmaceutical standards, will be used for BRC’s pharmaceutical development projects. In addition to this shipment of dried cannabis flower, BRC and Clever Leaves have built a strong partnership over the past year through their collaboration in Project Change Lives, an initiative announced earlier this year to contribute up to USD
“Exporting THC flower to BRC, a DEA-licensed company located in the U.S., not only represents an important commercial milestone for Clever Leaves, but it demonstrates our capabilities to determine and execute upon a viable regulatory pathway to enter the U.S., the largest cannabis market in the world,” said Kyle Detwiler, CEO of Clever Leaves. “By becoming one of the first companies to commercially export THC flower to the U.S., we are paving Clever Leaves’ path into the U.S. medical cannabis industry through a partner such as BRC. We are honored to provide BRC the high-quality product they need to advance in their research, development, and production.”
“Our partnership with Clever Leaves continues to yield exciting research opportunities that will one day make a difference in the lives of patients,” said George Hodgin, CEO of Biopharmaceutical Research Company. “Both companies share the same values when it comes to DEA compliance—we take it seriously—which is why we believe this partnership is only getting started. We are thrilled to partner with Clever Leaves once again and are eager to begin working with this premium quality product.”
Clever Leaves’ Portuguese cultivation facility is located on approximately 9 million square feet of land and consists of approximately 110,000 square feet of high technology greenhouse facilities with expansion to approximately 270,000 square feet nearly complete. The facility was granted a license from INFARMED I.P., the Portuguese regulatory authority with oversight over the pharmaceutical industry in Portugal, for importing, exporting, and cultivating cannabis. Our state-of-the-art sophisticated facilities in Portugal, which are Good Agricultural and Collecting Practice (GACP) certified, are currently operational and commercially active, with successful exports to various countries, including Australia.
About Clever Leaves Holdings Inc.
Clever Leaves is a multinational cannabis company with an emphasis on ecologically sustainable, large-scale cultivation and pharmaceutical-grade cannabinoid processing as the cornerstones of its global cannabis business. With operations and investments in the United States, Canada, Colombia, Germany and Portugal, Clever Leaves has created an effective distribution network and global footprint, with a foundation built upon capital efficiency and rapid growth. Clever Leaves aims to be one of the industry’s leading global cannabis companies recognized for its principles, people, and performance while fostering a healthier global community. Clever Leaves has received multiple international certifications that have enabled it to increase its export and sales capacity from its Colombian operations, including European Union Good Manufacturing Practices (EU GMP) Certification, a Good Manufacturing Practices (GMP) Certification by Colombia National Food and Drug Surveillance Institute - Invima, and Good Agricultural and Collecting Practices (GACP) Certification. Clever Leaves was granted a license in Portugal from Infarmed – the Portuguese health authority – which allows Clever Leaves to cultivate, import and export dry flower for medicinal and research purposes. In addition, the Portuguese operation was also granted certification of compliance with GACP and IMC-GAP.
About Biopharmaceutical Research Company
Biopharmaceutical Research Company (“BRC”), a DEA-licensed pharmaceutical company that develops federally compliant active pharmaceutical ingredients (API) for plant-based therapeutics in the United States. BRC is pioneering the federally legal cannabis space in the U.S.
Clever Leaves Press contacts:
McKenna Miller
KCSA Strategic Communications
+1-347-487-6197
cleverleaves@kcsa.com
Diana Sigüenza
Strategic Communications Director
+57-310-236-8830
Diana.siguenza@cleverleaves.com
Clever Leaves Investor Inquiries:
Cody Slach and Jackie Keshner
Gateway Investor Relations
+1-949-574-3860
CLVR@gatewayir.com
Clever Leaves Commercial Inquiries:
Andrew Miller
Vice President Sales - EMEA, North America, and Asia-Pacific
+1-416-817-1336
andrew.miller@cleverleaves.com
BRC Press contact:
Charlie Patterson
Squared Communications
(202) 680-8132
charlie@sqcomms.com
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