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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. (NASDAQ: CLVR, CLVRW) will participate in investor conferences in November and December 2021. The Cowen 4th Annual Cannabis Conference runs from November 29 to December 1, featuring a panel on November 30 at 11:50 a.m. ET. Additionally, the CannaVest West Institutional Capital Forum is scheduled for December 16-17 at the Moscone Center in San Francisco, with a panel discussion on December 17 at 2:15 p.m. ET. For more details about the conferences or to arrange one-on-one meetings, interested parties can contact the company’s investor relations team.
Clever Leaves Holdings reported Q3 2021 revenue of $4.0 million, a 3% increase from Q3 2020. Gross profit rose 22% to $2.5 million, with a gross margin of 62.9%. The expansion of its cultivation facility in Portugal was completed ahead of schedule, increasing operational capacity. However, net income was $1.0 million, up from a net loss of $(6.1) million last year, influenced by gains from warrant liabilities. The company revised its 2021 revenue outlook, now expecting $14 to $16 million, down from a prior range of $17 to $20 million.
Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) will hold a conference call on November 10, 2021, at 5:00 p.m. Eastern time to discuss its third-quarter results for the period ending September 30, 2021. Financial results will be published in a press release before the call. The call includes a management discussion followed by a Q&A session. Interested participants should join 5-10 minutes early. A replay of the call will be available after 8:00 p.m. Eastern time on the same day through November 17, 2021.
Clever Leaves Holdings (NASDAQ: CLVR, CLVRW) announced a partnership with Pharmalab PHL Laboratories in Colombia to distribute pharmaceutical-grade cannabinoid formulations. This agreement follows new regulations permitting drugstores to sell medicinal cannabinoids. Clever Leaves, certified in Good Manufacturing Practices, aims to provide high-quality cannabinoid products to Colombian patients. Both companies emphasize the therapeutic potential of these products for inflammatory conditions. The partnership highlights Colombia's role as a leader in the Latin American cannabinoid market.
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.
On October 4, 2021, Clever Leaves Holdings Inc. (Nasdaq: CLVR) announced its participation in several investor events in October. Key events include the A.G.P. Virtual Fall Consumer Cannabis Conference on October 5, the Lytham Partners Fall 2021 Investor Conference on October 7, and a panel at MJBizCon in Las Vegas on October 14, with in-person attendance from October 20-22. Additionally, Clever Leaves will present at the Benzinga Cannabis Capital Conference on October 15. The company focuses on sustainable large-scale cannabis cultivation and processing, with operations worldwide.
Clever Leaves Holdings (NASDAQ: CLVR) will present live on September 9, 2021, at 1:30 p.m. ET during a virtual conference hosted by VirtualInvestorConferences.com. CEO Kyle Detwiler will engage with investors in real-time, encouraging questions during the event. For those unable to attend live, an archived version will be available afterward. Investors are advised to pre-register and conduct a system check for a smoother experience. Clever Leaves recently highlighted various initiatives, including approval to export medical cannabis from Colombia and a pledge of $25M in medical cannabis to U.S. researchers.
Clever Leaves Holdings (Nasdaq:CLVR), a leading licensed producer of pharmaceutical-grade cannabinoids, will participate in several virtual investor conferences in September 2021. Key events include:
- Gateway Conference: September 8 at 1:00 p.m. ET
- KCSA Cannabis Conference: September 9 at 1:30 p.m. ET
- BTIG Cannabis Conference: September 29, Live webcast
For more details, contact the investor relations team at 1-949-574-3860.
Clever Leaves Holdings reported a remarkable 89% revenue increase to $3.7 million in Q2 2021, up from $1.9 million a year prior. Gross profit surged 157% to $2.3 million, achieving a 63.6% gross margin. Despite a net loss of $(9.0) million, the company has reaffirmed its FY2021 guidance. The launch of several global partnerships helped expand its distribution network, with a new $25 million financing enhancing liquidity. The Colombian government’s decree permitting medical cannabis flower exports is expected to significantly expand the market potential for Clever Leaves.
Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) announces its collaboration with the University of Missouri’s pediatric neuroscience lab as part of its Project Change Lives Campaign. The initiative will provide up to $25 million in medical cannabis products to support research on CBD’s effectiveness for neurodevelopmental disorders, including autism and epilepsy. This partnership is expected to enhance the scientific understanding of cannabis-derived treatments.
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