Clever Leaves Holdings Inc - CLVRW STOCK NEWS

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.

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.