CLVR enters the US CBD market Still posting to an empty board but this latest news merits a post. Clever Leaves, way ahead of schedule, at least according to every presentation and media spot Kyle has delivered, enters the US through their owned retail platform. It appears they are just starting with topicals but the potential is truly very big and was not at all factored into 2021 or 2022 sales and earnings projections.
NEW YORK, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, announced today its branded nutraceutical manufacturer, Herbal Brands, has entered into a strategic partnership with the LooperGroup and TruSource Hemp Group (“TruSource”), a leading provider of services for the hemp industry, to import the Company’s first commercial shipment of CBD into the United States. Clever Leaves´ Colombian facilities are the first and only cannabis operations in LATAM to have a Good Manufacturing Practices certification from the European Union (EU-GMP).
"This partnership will capitalize on both Clever Leaves’ and TruSource’s combined expertise within the hemp industry, resulting in significant access to high quality grade CBD products for the U.S. marketplace,” said Kyle Detwiler, CEO of Clever Leaves. The CBD industry is estimated to reach $20 billion by 20241, and the Company expects this U.S.-based strategic partnership to unlock opportunities to provide high quality, cost-effective raw materials for the U.S. market.”
“TruSource offers Clever Leaves the deployment expertise for an important new market, enabling our company to import its first commercial shipment of CBD into the U.S.” he added.
“The partnership between Clever Leaves, TruSource, and the LooperGroup is a powerful alliance. Clever Leaves’ expertise in large-scale cultivation, evolving formulations, and industry innovation will provide U.S. hemp commercial customers with access to an unprecedented, vertically integrated supply of CBD isolate, extracts and finished solutions,” said D. Williams, TruSource Hemp Group’s President & CEO.
“This achievement opens the gateway for importing pharmaceutical grade CBD products from Colombia to the United States. We are pleased to be a member of the team which achieved this notable milestone and we look forward to maximizing the opportunities this offers,” said Robert W. Looper, President & CEO of The LooperGroup.
Andrs Fajardo, President of Clever Leaves, said, “Our efforts are aimed toward manufacturing products of the highest quality. To that end, we operate under rigorous international pharmaceutical-grade quality standards. Thus far, our products have been widely accepted in more than 15 different countries across five continents.”
He added, “This partnership enables our Herbal Brands business, which currently has access to more than 10,000 retail distribution points in the U.S., to manage every aspect of our CBD topical product development from 'seed to consumer' and allows us to provide the highest quality CBD products to the U.S. market."
This first shipment successfully cleared customs in the United States in Q1 of 2021.
For all business inquiries, please visit Clever Leaves’ direct to business sales platform, www.cleverleaves360.com, to set up an appointment with a Clever Leaves’ business consultant.
https://www.globenewswire.com/fr/news-release/2021/02/09/2172344/0/en/Clever-Leaves-Nutraceutical-Manufacturer-Herbal-Brands-Inc-Begins-Importing-CBD-into-the-US.html