Clever Leaves Partners With House of Kush for International Expansion

Rhea-AI Summary

Clever Leaves Holdings Inc. has partnered with House of Kush to become the exclusive grower and distributor of House of Kush’s proprietary THC smokable flower genetics outside of the U.S. and Canada. This three-year agreement allows Clever Leaves to cultivate strains such as Bubba Kush Pre-98 and San Fernando Valley OG Kush in Colombia and Portugal. The partnership aims to enhance Clever Leaves' portfolio and expand House of Kush's global reach.

Positive

• Exclusive partnership with House of Kush enhances Clever Leaves' product portfolio.
• Clever Leaves will cultivate high-demand genetics in Colombia and Portugal.
• Operations in Colombia include 18 hectares of cultivation with multiple international certifications.
• Clever Leaves has a facility in Portugal covering approximately nine million square feet.

Negative

• None.

Multinational operator partners with House of Kush to grow and commercialize THC smokable flower from House of Kush’s genetics outside of the United States and Canada

TOCANCIPÁ, Colombia, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced a partnership today with U.S. cannabis-branded genetic innovation company, House of Kush, to be the exclusive grower and distributor of proprietary genetics globally. Clever Leaves will be the exclusive producer of various genetics for House of Kush outside of the United States and Canada.

As the exclusive grower for House of Kush globally, Clever Leaves will cultivate and commercialize House of Kush proprietary genetics in its Colombia and Portugal facilities for the duration of the three-year agreement, after completing an initial evaluation and adaptation phase of the genetics for each production location. This partnership will further strengthen Clever Leaves’ portfolio of high THC smokable flower which is already being sold in Germany, Israel, and Australia.

Clever Leaves will produce various House of Kush strains including Bubba Kush Pre-98 and San Fernando Valley OG Kush in Clever Leaves’ Colombia and Portugal facilities. In Colombia, the company operates 18 hectares of cultivation and has received multiple international certifications 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 Collection Practices (GACP) Certification. Clever Leaves’ Portugal facility is located on approximately nine million square feet of land, consists of approximately 260,000 square feet of greenhouse facilities, and 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, (EU GMP) certification and are (GACP) certified.

Andres Fajardo, Clever Leaves’ CEO, stated, “The strategic partnership with House of Kush leverages both companies core capabilities. On the one hand, it will allow Clever Leaves to further expand its flower portfolio with globally renowned genetics. On the other hand, it will serve as a platform for House of Kush to expand their coverage beyond the United States and Canada. Together we will be able to bring high quality product to patients at a global level on a consistent basis.”

Steve Gardner, co-founder of House of Kush, said, “This agreement expands our market presence beyond America in a meaningful and significant way. By working with a global leader in Clever Leaves, this enables us to deliver our legacy genetics to customers around the world who want to incorporate some of the all-time great strains into their routines. We will bring strains people recognize with a brand they can trust for product consistency.”

Clever Leaves and House of Kush will work together to develop the proper cultivation protocols to best meet those required by the different genetics. The strains being grown will be offered to Clever Leaves customers globally, through the Company’s sales and distribution channels, and depending on specific business strategies House of Kush might provide marketing and sales support or extend the participation in co-branding efforts.

About Clever Leaves Holdings Inc.
Clever Leaves is a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids. Its operations in Colombia and Portugal 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/ and follow Clever Leaves on Twitter and LinkedIn.

About House of Kush
House of Kush is a leading legacy genetics cannabis company based in the United States. They currently have partners in eight states, with several more being added in 2023. As a majority Black-owned business, House of Kush has a social equity strategy that includes developing economic opportunity in Black and brown communities across the country. They offer a customized portfolio of products in each state backed by the ‘Kush Certified’ logo, guaranteeing customers are getting the legitimate legacy product. As a company, they are dedicated to high-quality products with sustainably focused partners. For more information, please visit https://www.houseofkush.co and follow Kush Certified on FB, LI and Instagram.

Press Contacts:
Rich DiGregorio
KCSA Strategic Communications
+1-856-889-7351
cleverleaves@kcsa.com

Diana Sigüenza
Strategic Communications Director
+57-310-236-8830
diana.siguenza@cleverleaves.com

Clever Leaves Commercial Inquiries:
Andrew Miller
Head of Business Development
+1-416-817-1336
andrew.miller@cleverleaves.com

House of Kush Media Relations:
Rob Wheat
rhwheat@gmail.com
+1-913-642-5767

Clever Leaves Investor Inquiries:
Cody Slach and Jackie Keshner
Gateway Group, Inc.
+1-949-574-3860
CLVR@gatewayir.com

FAQ

What is the partnership between Clever Leaves and House of Kush?

Clever Leaves has partnered with House of Kush to cultivate and distribute House of Kush’s THC smokable flower genetics outside the U.S. and Canada.

Which strains will Clever Leaves produce for House of Kush?

Clever Leaves will produce strains including Bubba Kush Pre-98 and San Fernando Valley OG Kush.

How long is the agreement between Clever Leaves and House of Kush?

The partnership is a three-year agreement.

Where are Clever Leaves' production facilities located?

Clever Leaves operates facilities in Colombia and Portugal.

What certifications does Clever Leaves hold?

Clever Leaves has EU GMP Certification, GMP Certification from Invima, and GACP Certification.

How does this partnership affect Clever Leaves' market presence?

The partnership will enhance Clever Leaves' product offerings and expand its global market reach.