Portuguese Health Authority Grants Clever Leaves EU-GMP Certification for Post-Harvest Cannabis Flower

Rhea-AI Summary

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) has received EU-GMP certification from INFARMED, I.P. for its Portugal facility, allowing for the production of cannabis dried flower for pharmaceutical use. This certification is essential for marketing medicinal cannabis products in Europe and represents a significant expansion opportunity for Clever Leaves. The company aims to meet stringent pharmaceutical standards, achieving certification in under 10 months. This milestone positions Clever Leaves to enhance revenue streams and support regional cannabis companies.

Positive

• Received EU-GMP certification, enabling wider market reach in Europe.
• Certified to produce dried cannabis flower as both API and finished products.
• Achieved certification in less than 10 months after facility completion, indicating efficient operations.

Negative

• None.

Multinational operator has been granted EU-GMP certification by INFARMED, I.P. for the manufacturing of Cannabis Dried Flower as API and Finished Product

TOCANCIPÁ, Colombia, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced today that its facility in Portugal has been granted EU-GMP certification by the Portuguese Health Authority (INFARMED, I.P.) to manufacture dried cannabis flower as an active pharmaceutical ingredient and as finished product.

The EU-GMP certification is required for the registration and marketing of medicinal cannabis products in Europe and represents an important step toward broadening Clever Leaves’ ability to reach European patients with its own products. Additionally, the certification will bolster Clever Leaves’ commitment to supporting other cannabis companies in the region by providing a platform for achieving the necessary GMP standard for expansion into the European market.

Clever Leaves is one of few players in Portugal to receive EU-GMP certification for post-harvest cannabis flower in the format of API and finished product.

Andres Fajardo, Clever Leaves’ CEO, stated, “Receiving this certification and completing the rigorous process is an honor and accomplishment for Clever Leaves, from the initial design of the installations, through the qualification and validation of all equipment and processes, to the integration of the new unit’s quality procedures into the existing quality system of Clever Leaves Portugal. The fact that we were able to meet the highest of pharmaceutical standards in less than 10 months after completion of the new facility is a huge milestone for Clever Leaves and we could not be more proud of our team for their exemplary work.”

This certification marks a new milestone for the company and puts it in an advantageous position to open up new revenue streams while consolidating existing ones in the EMEA and Pacific regions.

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/

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

Clever Leaves Commercial Inquiries:
Andrew Miller
Head of Business Development
+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 does the EU-GMP certification mean for Clever Leaves (CLVR, CLVRW)?

EU-GMP certification allows Clever Leaves to manufacture and market medicinal cannabis products in Europe.

When did Clever Leaves receive EU-GMP certification?

Clever Leaves announced receiving EU-GMP certification on November 9, 2022.

How does the EU-GMP certification impact Clever Leaves' operations?

The certification enhances Clever Leaves' ability to reach European patients and supports business growth.

What products can Clever Leaves produce with EU-GMP certification?

Clever Leaves can produce dried cannabis flower as both an active pharmaceutical ingredient (API) and a finished product.

Which authority granted the EU-GMP certification to Clever Leaves?

The certification was granted by the Portuguese Health Authority, INFARMED, I.P.