Clever Leaves Successfully Delivers First Shipment of EU GMP Certified Cannabis-Derived Pharmaceuticals from Colombia to Germany

NEW YORK, Dec. 10, 2020 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Clever Leaves, a multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, has announced it has successfully delivered the first shipment of EU GMP certified cannabis standardized extract from Colombia to Germany, imported by their distribution partner Paesel + Lorei GmbH & Co. KG. To available knowledge, this is the first legal shipment of an EU GMP certified pharmaceutical controlled substance from Colombia to Germany.

The shipment contained an initial sample of Clever Leaves' standardized cannabis high CBD extract manufactured under EU-GMP certification with more than 0.2% of THC, which makes it a controlled substance in Colombia and Germany, and is expected to be available in the German market in 2021. Clever Leaves partnered with P&L, an international provider of outsourcing services and a developer of special distribution solutions specializing in the pharmaceutical industry, for the execution of the international shipment.

Germany is one of Europe’s largest cannabis markets and has shown to be one of the leading international revenue opportunities for global cannabis producers. With strict quality standards and EU GMP certification requirements, the German regulatory approach focuses on developing a quality and safe market for cannabis-derived medical products in the country. Clever Leaves, in compliance with all cannabis regulations in the countries served, has successfully imported to 14 countries on five continents.

“The shipment demonstrates our execution on the pipeline from Colombia to an incredibly important market, Germany, Europe’s largest cannabis market and one of the most influential pharmaceutical markets in the world,” said Kyle Detwiler, CEO of Clever Leaves. “Our ability to develop and deliver market leading products opens doors, not only for Clever Leaves, but also to improve the quality of life and care for patients in need of these products.”

“We are delighted to cooperate with Clever Leaves´ multi-national team and to facilitate their entrance of the German market with their products,” said Dr. Anne Pfitzner, Managing Director of Paesel + Lorei.

Clever Leaves boasts multiple international certifications including a Good Manufacturing Practices (GMP) Certification by INVIMA; Good Agricultural and Collecting Practices (GACP) Certification; and European Union Good Manufacturing Practices (EU GMP) Certification.

Clever Leaves was also recently in the news when they announced a potential business combination with Schultze Special Purpose Acquisition Corp., pursuant to which a newly formed holding company, Clever Leaves Holdings Inc., will acquire SAMA and Clever Leaves. The transaction is expected to close in the fourth quarter of 2020 and the combined company is anticipated to trade on Nasdaq under the symbol “CLVR."