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The licence marks the beginning of European development activities and makes Portugal the European centre for the production of medicinal hashish in Clever Leaves
NEW YORK and LISBON, Portugal, 25 August 2020 (GLOBE NEWSWIRE) – Clever Leaves (the “Company”), a leading multinational operator and authorized manufacturer of pharmaceutical-grade cannabinoids, announced today that it has received a license from INFARMED IP, the Portuguese regulator that oversees the pharmaceutical industry in Portugal, adding medicinal cannabis, to grow, import and export dried flowers of GACP (Good Agricultural and Collecting Practice) Matrix produced from Clever Leaves.
The Portuguese smart-leaf plant is located on approximately nine million square feet of land and includes approximately 110,000 square feet of greenhouses. The license marks the beginning of Clever Leaves’ development activities in Europe and its ability to produce, market and export high-quality GACP hashflows for medicinal purposes. Clever Leaves’ crop and post-harvest services are specially designed to meet the quality criteria and production systems identified worldwide.
Due to the COVID-19 pandemic, the license is considered transient until a physical inspection of INFARMED is performed at the growing site. Although provisional, it provides Clever Leaves Portugal with the same rights and qualifications as the final license. The physical inspection shall take place in the short term and, once completed, a final formal licence will be issued. Having access to a successful production of medicinal hashish in the European Union is a key achievement for Clever Leaves, and upon receiving its INFARMED LICENSE, Clever Leaves expects to be the ninth fully authorised medical hash producer in Portugal. By comparison, there are lately more than 400 authorized manufacturers in Canada, as indexed on Health Canada’s public website.
“This is a vital step for Clever Leaves’ operations through the creation of a center for the production of dried hashish flowers in Europe, in addition to our vital operation in Colombia that focuses on the production of hash extracts. The receipt of our Portuguese license is in line with our overall strategy of prioritizing the highest quality and successful production. Portugal has a very hot microclimate for large-scale and effective production and this license gives us the opportunity to be one of the largest exporters of medical hashish in Europe,” said Kyle Detwiler. CEO of Clever Leaves.
“Our team is made up of industry experts with experience in the agricultural and pharmaceutical industries, and this achievement demonstrates their experience in assembling the strict regulatory needs in Portugal,” added Andrés Fajardo, President of Clever Leaves.
Prior to the license, Clever Leaves had a pre-license that showed that it had met the administrative needs for the licensing process. Clever Leaves had also obtained the authorization of INFARMED to import genetics and it had also been legal to have interaction in the control crop.
For commercial applications, please requests The Clever Leaves Direct Business Platform, www.cleverleaves360.com, to schedule an appointment with a Clever Leaves commercial consultant.
Clever Leaves also made headlines recently by announcing an imaginable ad fusion with Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA, SAMAW and SAMAU “(“SAMA”) and by disclosing the signing of a final agreement on July 27. The transaction is expected to close in the fourth quarter of 2020 and the merged company is expected to join the industry on the NASDAQ under the symbol “CLVR”.
About Clever Leaves International Inc. Intelligent Leaves is a multinational hash company whose project is to operate in accordance with federal and state legislation and focus on large-scale cultivation and environmentally sustainable pharmaceutical grade remedy as cornerstones of its cannabinoid business. With operations and investments in Canada, Colombia, Germany, Portugal and the United States, Clever Leaves has created an effective distribution network and global presence, with a foundation founded on the power of capital and immediate growth. Clever Leaves aims to be one of the world’s leading cannabinoid corporations in the industry, known for its principles, workers and performance, while fostering a healthier global community.
About Schultze Special Purpose Acquisition Corp. Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA, SAMAW and SAMAU) is a blank checking company created with the aim of liquidating a merger, exchange, asset acquisition, percentage purchase, recapitalization, reorganization or other mix of businesses with one or more corporations or entities. SamA’s sponsor is a subsidiary of Schultze Asset Management, LP, an investment control company of choice founded in 1998 that focuses on troubled securities, special conditions and occasions and has invested more than $3.2 billion since its inception with a remarkable balance sheet thanks to its active investment strategy. SAMA itself is backed by a team of traders and investors who have been successful in creating curtain prices in public and personal corporations.
Additional information and where to find them As a component of the commercial mix, Holdco has filed a record on Form S-4 (the “S-4”) with the SEC that includes a prospectus related to Holdco’s securities to be issued as a component of the business mix and a power circular related to the SAMA shareholders’ meeting in which SAMA shareholders will be invited to vote on the proposed merger. SAMA, Clever Leaves and Holdco urge investors, shareholders and other interested components to read Form S-4, adding the proxy/prospect, as well as other documents filed with the SEC, as those documents will involve vital data on the business mix. The last power/prospective will be mailed to SAMA shareholders on a registration date that will be consistent for voting on the business mix. SAMA shareholders may also download a copy of these documents, at no rate, by requesting: Schultze Special Purpose Acquisition Corp, 800 Westchester Avenue, Suite 632, Rye Brook, New York 10573; email: [email protected]. These documents, once available, can also be downloaded loosely on the SEC online page (http://www.sec.gov).
The participants in the tender, Clever Leaves, Holdco and their respective directors, officers and other members of their control and employees, in accordance with SEC rules, would possibly be participants in the request for powers of SAMA shareholders in relation to the mix of business. Information about Americans who may, under SEC rules, would be involved in the request for powers from SAMA shareholders in connection with the business mix is presented in the preliminary statement of power/prospect on Form S-4, and will also be included in the last statement of power/prospective for the business mix when available. Information related to the interests of THE SAMA and Clever Leaves participants in the tender, which would possibly in some cases differ from those of the samA and Clever Leaves shareholders in general, is also presented in the statement of power/prospect contained on the Form. S-4, and will also be included in the final power/circular leaflet for business consolidation when available.
Press Contacts: McKenna Miller KCSA Strategic Communications [email protected]
Diana Sigenza Communication Director straté[email protected]
Investor Claims: Raphael [email protected]
Commercial applications: Bobby Yavari Clever [email protected]