Clever Leaves Enters Australian Market with Supply Agreement with Cannatrek
11 August 2020 - 10:30PM
Clever Leaves (the “Company”), a leading
multi-national operator (MNO) and licensed producer of
pharmaceutical-grade medical cannabinoids, today announced it has
entered the Australian market with the arrival of its first
white-labeled, semi-finished product shipment to Cannatrek, an
Australian seed-to-patient medicinal cannabis producer. The
two-year supply agreement includes various CBD oral solution
concentrations for distribution through physician and pharmacy
networks in Australia. In accordance with all relevant import
and export regulations, the initial product shipment was
successfully received by Cannatrek last week and is commercially
available for purchase.
The supply agreement offers products that are
not currently available in Australia and strongly positions both
parties in the rapidly growing Australian medical cannabis market.
Under the terms of Australian medical cannabis regulation, all
products in the agreement comply with Australian Therapeutic Goods
(Standard for Medicinal Cannabis) (TGO 93) requirements for
manufacturing and testing.
“We are very pleased to expand our global
footprint and distribute Clever Leaves cannabis products through
physician and pharmacy networks throughout Australia. We look
forward to working closely with Cannatrek to increase patient
access to medical cannabis solutions by leveraging their retail
distribution network and trusted proprietary brands,” said Kyle
Detwiler, CEO of Clever Leaves.
Cannatrek CEO, Tommy Huppert, commented, "Clever
Leaves’ entry into the emerging Australian medicinal cannabis
market via Cannatrek’s distribution network shows not
only its commitment to our marketplace, but its confidence in
Cannatrek as its Australian distribution partner. The global
cannabis industry is maturing rapidly, and we look forward to
introducing quality products into Australia via our robust and
growing network. We are extremely excited to have forged this
relationship with Clever Leaves; it will support our mission to
provide unique and affordable medicinal cannabis products to
Australian patients to support their healthcare needs."
“Clever Leaves remains focused on becoming an
internationally-recognized and trusted source for pharmaceutical
grade cannabis products and we continue to seek out partnerships
with organizations, such as Cannatrek, with proven track
records in the industry. The agreement underscores the burgeoning
demand for medical cannabis products in Australia and Clever
Leaves’ ability to develop commercial partnerships to reach
new markets and expand patient care,” said Andres Fajardo,
President of Clever Leaves.
Domestic demand for cannabis products Australia
continues to rapidly increase. According to New Frontier Data, by
December 2020, the market will support a projected 25,000–30,000
active patients, and based on the current rate of growth,
Australian health regulators expect the number of medical cannabis
prescriptions to reach at least 70,000.
Clever Leaves continues to partner with
businesses around the world to offer EU GMP certified products
through its vertically-integrated business platform and supply
chain process expertise. For all business inquiries, please visit
Clever Leaves’ direct to business sales platform,
www.cleverleaves360.com, to set an appointment with a Clever
Leaves’ business consultant.
About Clever Leaves International
Inc.Clever Leaves is a multi-national cannabis company
with a mission to operate in compliance with federal and state laws
and with an emphasis on ecologically sustainable, large-scale
cultivation and pharmaceutical-grade processing as the cornerstones
of its global cannabis business. With operations and investments in
Canada, Colombia, Germany, Portugal, and the United States, Clever
Leaves has created an effective distribution network and global
footprint, with a foundation built upon 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.
On July 27, 2020, Schultze Special Purpose
Acquisition Corp. (NASDAQ: SAMA, SAMAW, and SAMAU) (“SAMA”) and
Clever Leaves International Inc. (“Clever Leaves” or the “Company”)
jointly announced that they have entered into a definitive
agreement (the “Business Combination Agreement”), pursuant to which
a newly formed holding company, Clever Leaves Holdings Inc.,
(“Holdco”) will acquire SAMA and Clever Leaves. Holdco is
anticipated to become a NASDAQ-listed public company trading under
the ticker symbol “CLVR” with an anticipated initial enterprise
value of approximately $255 million. The transaction has been
unanimously approved by the Boards of Directors of both SAMA and
Clever Leaves and is expected to close in the fourth quarter of
2020, subject to regulatory and shareholder approvals, as well as
other customary closing conditions. On August 6, 2020, Holdco filed
with the U.S. Securities and Exchange Commission (“SEC”) a
registration statement on Form S-4 (the “Registration Statement”),
which includes a preliminary proxy statement of SAMA, in connection
with its proposed business combination.
About Cannatrek LtdCannatrek is
an unlisted public company focused on Australian and international
supply of medicinal cannabis with operations in Queensland and
Victoria, and distribution of medicinal cannabis products across
Australia. Cannatrek is set to redefine the medical cannabis
industry in Australia, by converging research, cultivation, green
technology and distribution, that will put patients first and
create a sustainable domestic enterprise, underpinned by smart
global partnerships. Recently, Cannatrek was awarded Major Project
Status by the federal Australian Government as a new greenfield
development for its scaled 160,000 square metre project in
Shepparton, regional Victoria. www.cannatrek.com
Press contacts: McKenna Miller KCSA
Strategic Communications +1347-487-6197
mmiller@kcsa.com
Diana Sigüenza Strategic Communication Director+573102368830
Diana.siguenza@cleverleaves.com
Business Contact:Maria Claudia HerediaClever
Leaves 360claudia.heredia@cleverleaves.com
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