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 (NASDAQ: CLVR, CLVRW) has secured a four-year take or pay supply agreement with Australian Natural Therapeutics Group (ANTG). The deal is valued at a minimum of US$7.8 million and encompasses CBD isolate, GMP-certified THC crude oil, and THC dried flower from its Colombian and Portuguese operations, respectively. This agreement marks a significant milestone for Clever Leaves as it expands into the rapidly growing Australian medical cannabis market, projected to reach US$1.2 billion by 2027.
Clever Leaves announces a three-year supply agreement with German distributor Cansativa, reinforcing its presence in the medicinal cannabis market. This partnership includes a minimum purchase of €2 million worth of high-THC cannabis flower from Clever Leaves' facilities. Cansativa is set to raise up to $15 million, which will bolster its position in the cannabis industry. Clever Leaves will also partially sell its stake in Cansativa for approximately €2.3 million, reducing its ownership to around 9%. The supply agreement is expected to start by late 2022, pending regulatory certifications.
Clever Leaves Holdings has announced the successful importation of high-quality cannabinoid extracts into Germany, which will be distributed through its partner, Ethypharm. This marks a significant milestone as it is one of the first commercial shipments of Colombian-produced high-CBD pharmaceutical products to the German market. The shipment includes two formulations: 100 mg CBD with 3 mg THC and 200 mg CBD with 6 mg THC per gram. This strategic partnership aims to leverage Ethypharm's established distribution network in Germany, facilitating Clever Leaves' broader entry into the European cannabis market.
Clever Leaves Holdings has announced an enhanced partnership with Cannatrek Ltd., involving a two-year supply agreement for high-THC flower from Portugal, expanding its offerings of CBD oral solutions. Cannatrek, authorized to distribute in Australia, will commit to a minimum purchase of US$3.6 million over the agreement's duration. This collaboration aims to capitalize on Australia's growing medicinal cannabis market, projected to reach US $1.2 billion by 2027. The agreement emphasizes both companies' commitment to providing pharmaceutical-grade cannabis products to patients.
Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) has released its preliminary financial results for Q4 and the full year of 2021. The company's revenue for Q4 is expected to rise by 25% to $4.2 million, while full-year revenue is projected to increase 27% to $15.4 million. However, net losses are forecasted to significantly rise, with Q4 losses estimated between $17.1 million and $17.5 million, and full-year losses expected between $38.8 million and $39.2 million. For 2022, Clever Leaves anticipates revenues of $20 million to $25 million and aims to achieve strategic growth in various international markets.
Clever Leaves Holdings (NASDAQ: CLVR, CLVRW) announced a leadership transition with Andres Fajardo set to replace Kyle Detwiler as CEO on March 24, 2022. Detwiler will assist in ensuring a smooth transition and remain as Chairman. Fajardo, with over 20 years of management experience, believes in Clever Leaves' mission to provide cannabis benefits globally. The change follows a planned succession process, with the board expressing confidence in Fajardo's leadership to drive growth in their core markets.
George Schultze Appointed to Board of Directors
Clever Leaves Holdings Inc. has appointed George Schultze to its Board of Directors and the Audit Committee. Schultze, founder of Schultze Asset Management, brings over 25 years of investment expertise. His appointment is accompanied by a one-year lock-up for approximately 2.3 million shares and 4.9 million warrants, signaling confidence in Clever Leaves' commercial potential. The company continues to expand its operations in key global cannabis markets, supported by certifications that enhance its export capacity.
Clever Leaves Holdings Inc (NASDAQ: CLVR, CLVRW) announces the launch of its JoySol™ CBD product line, a significant entry into the U.S. CBD market. Developed by its subsidiary, Herbal Brands, JoySol features high-quality CBD and minor cannabinoids at accessible price points. The product line includes oil drop blends, gummies, and topicals tailored for daily use. This launch aims to meet the growing demand for quality CBD products among a wider audience, expanding Herbal Brands' retail access to over 20,000 points in the U.S.
Clever Leaves Holdings (NASDAQ: CLVR, CLVRW), a leading operator in the pharmaceutical-grade cannabinoid market, will participate in the 2022 ICR Conference from January 10-12, 2022. The company’s presentation is scheduled for January 10 at 8:30 am ET, available for live streaming and later replay on their website. Clever Leaves has established a strong global presence with operations in the US, Canada, Colombia, Germany, and Portugal, focusing on sustainable practices and compliance with international standards, including EU GMP and GACP certifications.
Clever Leaves has received licensing from Portugal’s INFARMED for its expanded greenhouse facilities, which will enhance its cultivation capacity by approximately 150,000 square feet, bringing the total to nearly 260,000 square feet. This expansion will enable higher quality commercial production and bolster research capabilities, including strain stabilization. The new facilities will enhance export capability to various countries, with first commercial products expected in Q2 or Q3 2022. CEO Kyle Detwiler expresses optimism about future growth following this achievement.
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?
