BOCA RATON, Florida and MELBOURNE, Australia, Feb. 10, 2022 (GLOBE NEWSWIRE) — Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multinational operator and licensed producer of pharmaceutical grade cannabinoids, announced today now expanding its relationship with Australian medical cannabis company Cannatrek Ltd. (“Cannatrek”) by signing a two-year take-it-or-pay supply deal that includes high-THC flower from Portugal, while expanding its existing partnership for various 10% and 20% CBD oral solutions of Colombia announced in 2020.
Licensed to distribute and sell medical cannabis to Australian patients, Cannatrek has been offering 10% and 20% CBD oral solutions supplied by Clever Leaves since 2020. Expanding the reach of both companies in Australia’s burgeoning market, Clever Leaves will now supply a strain of high-THC flower, which will be sold and distributed via the medical cannabis prescription route in Australia, strengthening its proposition as a B2B supplier capable of supplying both pharmaceutical extracts and dried flowers .
Over the term of the agreement, Cannatrek has committed to purchase a minimum of US$3.6 million, with the next shipment scheduled for March 2022.
Working together since 2020, Cannatrek was the first organization to bring Clever Leaves CBD oral solutions to the Australian market. This expanded take-it-or-pay-in-kind supply agreement will allow greater access to essential cannabis products in Australia and strengthen both companies’ positions in the rapidly growing medicinal cannabis market. By 2027, the Australian market is expected to reach US$1.2 billionthe 5thand the biggest in the world.
“Australia is a key market for Clever Leaves in 2022. As the market matures and continues to grow rapidly, we are excited to expand our relationship with Cannatrek, providing market leading products. Cannatrek’s commitment to the patient experience has steadily grown in the market, with a patient-centric approach securing its market-leading position,” said Andrés Fajardo, President of Clever Leaves. “Expanding our partnership will certainly help meet the country‘s growing demand for safe, reliable and, most importantly, pharmaceutical-grade products,” he added.
“Cannatrek is rapidly expanding its distribution footprint in Australia with one of the largest ranges of medicinal cannabis products available on the Australian market today, and the strategic expansion of the supply of Clever Leaves products is fundamental to growing our local market and increasing patient choice,” said Tommy Huppert, CEO of Cannatrek. “We pride ourselves on being patient-centric, ensuring quality, price and service excellence in our patient offerings, and are excited to expand our exciting new product pipeline with Cleaves Leaves. .”
In 2022, Cannatrek will continue its commitment to a “seed to patient” approach, with high-quality cannabis from partners such as Clever Leaves serving as the foundation for the vertical integration process. As with all products directly manufactured by Cannatrek in Australia, Clever Leaves products will be available to Australians approved by the Special Access Scheme or an authorized prescriber.
About Clever Leaves Holdings Inc.
Clever Leaves is a multinational cannabis company that emphasizes the large-scale environmentally sustainable cultivation and processing of pharmaceutical-grade cannabinoids as the cornerstones of its global cannabis business. With operations and investments in the United States, Canada, Colombia, Germany and Portugal, Clever Leaves has created an efficient distribution network and global footprint, with a foundation built on capital efficiency and growth. fast. Clever Leaves aims to be one of the industry’s leading global cannabis companies recognized for its principles, people and performance while fostering a healthier global community. Clever Leaves has received several international certifications that have enabled it to increase its export and sales capacity from its Colombian operations, including the European Union‘s Good Manufacturing Practices (EU GMP) certification, a of Good Manufacturing Practices (GMP) by the Colombia National Food and Drug Surveillance Institute – Invima, and Certification of Good Agricultural and Collection Practices (GACP). Clever Leaves has obtained a license in Portugal from Infarmed – the Portuguese health authority – which allows Clever Leaves to cultivate, import and export dried flowers for medicinal and research purposes. In addition, the Portuguese operation has also been granted by Control Union Certifications to be EMEA and WHO GACP and GAP compliant, as well as CUMCS – GAP compliant.
For more information, visit https://cleverleaves.com/en/home/ and follow Clever Leaves on Twitter and LinkedIn.
Cannatrek is an Australian technology-driven company specializing in the research, cultivation, manufacture and delivery of medical cannabis. Backed by medicinal licenses, we manage the entire life cycle of herbal therapy products, from growth and processing to distribution and sales. Our ecosystem of providers, physicians, pharmacists and patients are connected by a state-of-the-art digital platform providing information on herbal therapies to eligible patients.
For more information about Cannatrek, visit www.cannatrek.com and follow them on LinkedIn and Facebook.
Clever Leaves Press contacts:
KCSA Strategic Communications
+61 423 782 111
Director of Strategic Communications
Clever Leaves Commercial inquiries:
Vice President of Sales – EMEA, North America and Asia-Pacific
Sales Manager – Australia and New Zealand
+61 475 212 988
Clever leaves investor demands:
Cody Slach and Jackie Keshner
Investor Relations Gateway
Cannatrek Commercial Inquiries:
Cannatrek Press Contacts: