Welcome to our dedicated page for CLEVER LEAVES HLDGS news (Ticker: CLVR), a resource for investors and traders seeking the latest updates and insights on CLEVER LEAVES HLDGS stock.
Clever Leaves Holdings Inc. (symbol: CLVR) is a pioneering company in the medical cannabis industry, headquartered in Colombia. As one of the first Colombian license holders in this field, Clever Leaves has established a robust market presence through its expansive cultivation and extraction operations. By 2023, the company aims to become the world’s largest grower, with over 10 million square feet of cultivation capacity. It also plans to be the largest extractor with pharmaceutical-grade and GMP-certified processing facilities, achieving the lowest cost in cannabis exports globally.
Clever Leaves operates with a differentiated business model that focuses on medical cannabis. They have strategically positioned themselves to lead the global market, bolstering their reputation among regulators, physicians, and key industry stakeholders. The company's significant achievements include launching major cultivation projects and building strong international partnerships.
The company is developing crucial capabilities to excel in the medical cannabis industry, backed by a highly experienced and respected team. Clever Leaves has continuously demonstrated its commitment to quality and compliance, ensuring that all its products meet the highest pharmaceutical standards.
Recent updates include the cessation of production operations in Portugal, which has been classified as discontinued operations as of March 31, 2023. This decision reflects Clever Leaves' focus on optimizing its operational efficiency and financial performance. The company regularly hosts conference calls to keep investors and stakeholders informed about its latest developments and financial status.
For more detailed information or inquiries, investors can reach out to the company's commercial and press contacts:
- Maria Petsanas / Anne Donohoe, KCSA Strategic Communications, cleverleaves@kcsa.com, +1 917-692-6673
- Andrew Miller, Head of Global Business Development, Andrew.miller@cleverleaves.com, +1 416-817-1336
- Julian Wilches, Chief Regulatory Officer, Co-Founder, Julian.wilches@cleverleaves.com, +1-305-927-6642
Clever Leaves Holdings Inc. has announced that its affiliate, Clever Leaves Germany GmbH, has secured all necessary licenses to distribute medical cannabis across Germany. This milestone allows access to approximately 20,000 pharmacies, enhancing Clever Leaves' growth potential in one of the largest medical cannabis markets. The obtained licenses include a wholesale distribution license, a Good Distribution Practice certificate, and a permit for narcotic drug trade. With Germany's population exceeding 83 million, there is a significant potential for market expansion, following a projected reimbursement growth to over 170 million Euros in 2021.
Clever Leaves Holdings Inc. has entered a two-year supply agreement with Biom Therapeutics to deliver pharmaceutical-grade CBD isolate for clinical trials in the U.S. The initial shipment has already been sent, complying with EU GMP standards. This partnership aims to enhance medical cannabis research, especially in treating rare neurological diseases. Clever Leaves emphasizes its commitment to high-quality products, supporting its growth strategy in the U.S. market. The collaboration is aligned with Biom's ongoing Phase-3 clinical studies for a novel drug targeting rare epilepsies.
Clever Leaves Holdings (NASDAQ: CLVR, CLVRW), a leading producer of pharmaceutical-grade cannabinoids, will participate in two investor conferences in April 2022. The BTIG Global Cannabis Conference features a fireside chat on April 7 at 10:30 a.m. ET. The Sequire Cannabis & Psychedelic Conference will include a presentation on April 20 at 2:30 p.m. ET. Investors can find more details or arrange meetings through conference representatives or by contacting Clever Leaves' investor relations team.
Clever Leaves celebrates the issuance of Joint Resolution 539 of 2022, completing the regulatory framework for exporting medical cannabis flowers from Colombia. The company has developed products to meet market needs and established regulatory pathways for exports. It plans to export milled cannabis flower by Q3 2022 and high-THC flower by year-end. Clever Leaves has signed commercial agreements for exports and aims to launch Colombian flower in Germany through its subsidiary. The CEO highlighted the strong market potential for cannabis flower, accounting for over 50% of market share in target regions.
Clever Leaves Holdings reported a 25% revenue increase in Q4 2021, reaching $4.2 million, while full-year revenue rose 27% to $15.4 million. Despite this growth, the company posted a net loss of $24 million for Q4, primarily due to an $18.5 million non-cash goodwill impairment charge. The adjusted gross profit remained flat at $2.7 million. Looking ahead, Clever Leaves maintains its 2022 guidance, projecting revenues between $20 and $25 million with adjusted EBITDA losses of $(23) million to $(20) million. The company aims to optimize operations and enhance market presence across six key countries.
InterCure and Clever Leaves have announced an exclusive multi-year partnership to cultivate, market, and distribute pharmaceutical-grade medical cannabis across the EU, Australia, and Israel. The agreement allows InterCure to access Clever Leaves' high-THC strains for various medical markets, including Israel, with plans for branded products compliant with EU-GMP. This collaboration aims to enhance the reach of medical cannabis, leveraging both companies' strengths in distribution and product development. Regulatory compliance is a key aspect of their activities.
Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) announced the appointment of William Muecke to its board of directors, effective March 25, 2022, following the departure of Kyle Detwiler as chairman and CEO. Muecke, co-founder of Artemis Growth Partners, brings nearly 30 years of global finance experience, particularly in cannabis markets. He aims to enhance Clever Leaves' cost advantages and strengthen its position in the pharmaceutical cannabinoid market, which aligns with the company’s growth strategy effective from 2022. Andres Fajardo will succeed Detwiler as CEO on March 24.
Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) will host a conference call on March 24, 2022, at 5:00 p.m. Eastern time, to discuss its financial results for the fourth quarter and full year ended December 31, 2021. The call will include a question and answer session with management. Interested participants can join via the toll-free dial-in number 1-877-407-9208 or the international number 1-201-493-6784. Details for the conference call replay will be available post-call. For more details, visit Clever Leaves' website.
Clever Leaves Holdings (NASDAQ: CLVR, CLVRW) will participate in the 34th Annual ROTH Conference from March 13-15, 2022, in Dana Point, CA. The company is set to present on March 15 at 2:00 p.m. PT. A live webcast of the presentation will be available for replay on their website. Clever Leaves is a leading producer of pharmaceutical-grade cannabinoids, operating in Colombia and Portugal with a focus on sustainable production methods and high-quality standards. For more information, visit their official website.
Clever Leaves has entered a one-year supply agreement with FoliuMed to export pharmaceutical-grade cannabis extracts from Colombia to Germany. This partnership facilitates the production of soft gel capsules using Clever Leaves' THC crude extract and CBD products, adhering to EU-GMP standards. Clever Leaves aims to enhance its international presence, with products distributed in Australia, Europe, and Latin America. This agreement signifies Clever Leaves' ongoing commitment to meeting stringent quality standards and expanding its global distribution capabilities.
FAQ
What is the current stock price of CLEVER LEAVES HLDGS (CLVR)?
What is the market cap of CLEVER LEAVES HLDGS (CLVR)?
What is Clever Leaves Holdings Inc.?
Where is Clever Leaves located?
What are Clever Leaves' main products?
What is the cultivation capacity of Clever Leaves?
What recent changes has Clever Leaves undergone?
How does Clever Leaves ensure product quality?
Who are the key contacts at Clever Leaves?
How can investors get updates about Clever Leaves?
What industry is Clever Leaves involved in?
What sets Clever Leaves apart in the cannabis industry?
