Clever Leaves strengthens German presence through expanded Cantourage partnership

Rhea-AI Summary

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) announced an expanded partnership with Cantourage GmbH to supply premium cannabinoids from its Portugal facility to German pharmacies. This partnership will allow the distribution of a high-THC dried flower product from the Wappa strain, enhancing the IQANNA brand in the EU market. CEO Andres Fajardo highlighted the commitment to providing high-quality medicinal cannabis solutions. This marks the second product Clever Leaves will offer in Germany, with more to follow soon.

Positive

• Expansion of partnership with Cantourage, increasing product offerings in Germany.
• Introduction of high-THC product from the Wappa strain to the German market.
• Strengthening of Clever Leaves' supply chain in fast-growing European markets.

Negative

• None.

The Partnership with Cantourage will now include Clever Leaves’ Premium Cannabinoids from the Company’s Portugal Facility to serve German pharmacies

BOCA RATON, Fla., July 11, 2022 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced today the continued expansion of the Company’s partnership with European medical cannabis leader Cantourage GmbH (“Cantourage”) to include supply of Clever Leaves’ second pharmaceutical-grade cannabis product, cultivated in the Company’s Portugal Facilities, to the German medicinal cannabis market.

Clever Leaves will supply Cantourage with high-THC dried flower product from the Company’s Wappa strain, cultivated in Clever Leaves’ facility in Portugal, where the company operates approximately 25,000 m² of actively producing GACP-certified greenhouse. Cantourage will utilize Clever Leaves’ product to produce IQANNA 10 which will have one of the highest THC levels available in German pharmacies.

Clever Leaves and Cantourage’s expanded partnership further increases the range of international, high-quality medical cannabis products available to the EU market under Clever Leaves’ brand IQANNA and further strengthen the Company as a multinational operator.

Andres Fajardo, CEO of Clever Leaves, emphasized, “This partnership expansion provides us the opportunity to continue fulfilling Clever Leaves’ commitment to patients around the world seeking high-quality, safe and efficacious medicinal cannabis solutions. We are excited to launch additional high quality products in Germany under the IQANNA brand.” Mr. Fajardo continued, “Expanding the distribution of our products with partners such as Cantourage is an important objective for the Company’s operations in the European market and enables Clever Leaves to strengthen our supply chain in fast-growing markets such as Germany”.

Cantourage processes and distributes medical cannabis products sourced from around the world and makes them available to patients in Germany and Europe. IQANNA No 10 is the second Clever Leaves product made available to patients in Germany, with further products under the Clever Leaves IQANNA brand to be introduced in Germany in the coming weeks.

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 Cantourage GmbH
Cantourage GmbH is a leading European medical cannabis company. The Berlin-based company was founded in 2019 by industry pioneers Dr Florian Holzapfel, Norman Ruchholtz and Patrick Hoffmann. With its unique Fast Track Access platform, Cantourage enables producers from across the world to become part of the rapidly growing European medical cannabis market. Cantourage focuses on long-term collaborations and strategic partnerships: each partner along the value chain can focus on what they do best – from growers to logistics, manufacturers to pharmacies and wholesalers. All with one clear goal in mind: to provide patients in Europe with an unprecedented selection of the highest quality cannabis medicines at affordable prices. Cantourage offers products in all relevant market segments: dried flowers, extracts, Dronabinol and pharma-grade Cannabidiol.

Clever Leaves 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
Vice President Sales - EMEA, North America, and Asia-Pacific
+1-416-817-1336
andrew.miller@cleverleaves.com

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

 

FAQ

What is the recent partnership between Clever Leaves and Cantourage about?

Clever Leaves has expanded its partnership with Cantourage to include the supply of premium cannabinoids to German pharmacies.

What product will Clever Leaves supply to the German market?

Clever Leaves will supply high-THC dried flower from its Wappa strain.

What brand will Clever Leaves' products be sold under in Germany?

The products will be sold under the IQANNA brand.

How many products does Clever Leaves plan to introduce in Germany?

Clever Leaves plans to introduce multiple products under the IQANNA brand in Germany.

What is the significance of the partnership for Clever Leaves?

The partnership allows Clever Leaves to strengthen its supply chain and expand its market presence in Europe.