- The export of dried cannabis flower from Colombia has been authorized by a new decree that was signed on July 23approx., 2021, at the Clever Leaves growing facility by President Ivan Duque and his ministers.
- With the flower representing approximately 50% of the world’s medical cannabis markets, this decree doubles the total addressable market for Clever Leaves’ Colombian operations.1
- Clever Leaves’ Colombian operation is well positioned to take advantage of this change, given its 1.8 million square feet of cultivation, CUMCS GACP and Latin America’s only EUGMP certifications for dried flower production.
- Clever Leaves will now be able to offer its customers a full portfolio of cannabinoid options with its extract, isolate and floral products from Colombia and its floral product from Portugal.
- As a trusted B2B partner, Clever Leaves can now leverage its global partnerships to deliver high-quality, innovative floral products to benefit patients around the world.
NEW YORK, July 23, 2021 (GLOBE NEWSWIRE) – Clever Leaves Holdings Inc. (Nasdaq: CLVR) (“Clever Leaves” or the “Company”), a multinational operator and licensed producer of pharmaceutical grade cannabinoids, welcomed the president Colombian Duque at its cultivation plant in Colombia for the signing of a new decree that allows Colombian licensed cannabis companies, such as Clever Leaves, to participate in the commercial production and export of medicinal cannabis flower. Given that the flower represents approximately 50% of the world markets for medical cannabis, this decree doubles the total addressable market for Colombian cannabis producers.
Clever Leaves is well positioned to take advantage of this opportunity to export dried cannabis flowers, taking advantage of its 1.8 million square meters. ft. CUMCS GACP certified grow facility, its EUGMP Part II certification covering dried flower production, and its genetics of more than 30 cannabinoids registered in the country. Colombia’s environmental conditions, added to Clever Leaves’ experience in the sustainable cultivation of cannabis, will allow the company to bring unique pharmaceutical-quality products to the market. The Colombian flower complements Clever Leaves’ already strong Portuguese flower production, allowing the company to present a comprehensive portfolio, covering different strains and growing conditions, that will be tailored to the constantly evolving needs of patients.
Having shipped cannabis products to more than 15 countries on five continents, Clever Leaves has a strong network of partners globally, who will benefit from its broader flower offering. Clever Leaves will leverage its position as a trusted B2B partner to develop and produce high-quality, innovative products for medical cannabis patients around the world.
This change in regulation, which allows the export of dried flowers, will catalyze the continued development of the Colombian medical cannabis industry by removing the restriction that blocked access to 50% of the global medical cannabis market. In addition, the decree includes features that will help Clever Leaves drive additional growth, including streamlined processes in quota management systems, enabling efficiencies and enhancing Clever Leaves’ ability to serve customers faster. The bill also includes access to medical cannabis for patients in Colombia.
During the visit to the Clever Leaves facilities, President Duque, who was accompanied by several of his ministers, regional and local authorities, highlighted the expected impact of this in the country: “This new decree represents an important milestone for Colombia, which allows us to compete in international markets. Furthermore, the decree raises the standards of our products and adds significant value, particularly in the medicinal sector. Clever Leaves has been a benchmark for the Colombian cannabis industry, generating 17 jobs per hectare in its cultivation plant. I encourage our government representatives from various entities to come together and continue to support the development of the industry. “
Kyle Detwiler, CEO of Clever Leaves, said: “The Colombian government policy change could double our addressable market of Colombia, a region where Clever Leaves has made a substantial capacity investment but where we have limited ourselves to selling only processed products. or extracted so far. However, since 2016, we have been developing the necessary capabilities to produce a pharmaceutical grade product.
“This regulatory evolution will allow us to better serve our customers around the world by capitalizing on the only EU GMP-certified cannabis operation in Latin America, which, to the surprise of many, already includes GMP-certified dried flower production from The EU. Hoping to anticipate this moment, our team has spent the past few years developing business relationships, market insights, and sourcing partnerships globally, and this catalyst is expected to unlock significant potential from our gradually expanding customer base. Through our Portuguese dried flower production plant, we have learned and successfully overcome the different challenges faced by a flower operation, including quality requirements, GACP and EU GMP certifications, sterility protocols, import logistics. / export of psychoactive products and cannabinoid potency requirements, many of them. that are different from processed or extracted products. We hope these lessons and relationships allow Clever Leaves to capitalize on Colombia’s new cannabis regulations. “
1 Market size estimates calculated from the data reported in:
- Grandview Industry Analysis, Legal Marijuana Market Size, Trend and Share Analysis Report by Type of Marijuana (Medical Use, Adult), by Product Type (Flower, Oil), by Medical Application (Chronic Pain , mental disorders) and segment forecasts, 2021 – 2028. May 2021
- BDS Analytics, Arcview Market Research, The State of Legal Cannabis Markets, 7th Edition, update 2020.
About Clever Leaves Holdings Inc.
Clever Leaves is a multinational cannabis company with an emphasis on ecologically sustainable large-scale cultivation and pharmaceutical grade processing as cornerstones of its global cannabis business. With operations and investments in the United States, Canada, Colombia, Germany and Portugal, Clever Leaves has built an effective distribution network and a global presence, with a foundation built on capital efficiency and rapid growth. 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 multiple international certifications that have allowed it to increase its export and sales capacity of its operations in Colombia, including the European Union Good Manufacturing Practices Certification (EU GMP), a Good Manufacturing Practices Certification (GMP). ) by the National Food and Drug Surveillance of Colombia. Institute – Invima and Certification of Good Agricultural and Collection Practices (GACP). Clever Leaves received a license in Portugal from Infarmed, the Portuguese health authority, which allows Clever Leaves to grow, import and export dried flowers for medicinal and research purposes. Additionally, the Portuguese operation received GACP and IMC-GAP compliance certification.
For more information please visit https://cleverleaves.com/en/home/ and follow us on LinkedIn.
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