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Clever Leaves Receives Authorization to Begin Preliminary Cultivation Operations in Portugal

November 21, 2019

NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- Clever Leaves, a leading vertically-integrated licensed producer of pharmaceutical-grade medical cannabis and hemp extracts, has received a pre-license letter from INFARMED I.P., the Portuguese regulatory authority with oversight over medical products, medical devices and cosmetics, including cannabis. The pre-license letter was granted to Northern Swan Portugal, Clever Leaves’ wholly-owned subsidiary, and confirms the company’s cannabis license application has successfully passed administrative review and complies with regulatory requirements for its proposed cannabis cultivation activities in Portugal.

The pre-license evidences that the company has met INFARMED’s requirements to begin preliminary operations, including importation of cannabis genetics and their cultivation. Following successful completion of the next step in the licensing process, which consists of additional INFARMED facility inspections, the company is expected to receive a cannabis cultivation license allowing it to commercialize product.

“With a clear regulatory framework and the agronomical advantage for large-scale, efficient production, Portugal has the potential to become a leading region for cannabinoid research as well as one of the largest exporters of medical cannabis in Europe. Obtaining this pre-license affirms Clever Leaves’ expansion plan as a pioneering global medical cannabis producer and underscores our competitive advantage in developing sustainable, low-cost cannabis production capacity globally,” said Kyle Detwiler, CEO of Clever Leaves. “We commenced in Portugal with a climatic, hydrological and agricultural survey in 2018, which led to our final site and community selection. Over the past year, we assembled an executive team handpicked from leading Portuguese pharmaceutical and agricultural businesses, and our team has worked efficiently to identify and acquire a scalable property, complete an initial high quality facility, and meet the strict regulatory requirements in Portugal to provide patients with pharmaceutical-grade medical cannabis. We look forward to completing the next milestones in the licensing process.”

To date, only four companies have received cannabis cultivation licenses in Portugal. Clever Leaves’ facility is being developed on 85 hectares of land. Once fully licensed, the first phase of the facility will consist of an existing 100,000 square foot greenhouse cultivating medical cannabis.

About Clever LeavesNorthern Swan Holdings, Inc. and Eagle Canada Holdings, Inc. d/b/a Clever Leaves recently announced a definitive agreement to fully integrate their respective operations. Clever Leaves, the integrated company, 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 processing as the cornerstone of building out distribution and brands. Clever Leaves is a leading vertically integrated producer of medical cannabis and hemp extracts and is currently cultivating over 1.5 million square feet of greenhouses under Good Agricultural and Collection Practices (GACP) in Colombia. Clever Leaves Colombia obtained its Good Manufacturing Practices (GMP) certification from INVIMA, Colombia’s food and drug regulatory agency, after inspection of its top-of-the-line extraction facility and is being evaluated for certification under European Good Manufacturing Practices (EU GMP). Clever Leaves’ first extraction facility is currently capable of extracting 24,000 kilograms of dried flower, with expansion underway to increase expected extraction capacity to 324,000 kilograms of dried flower per year by mid-2020. Clever Leaves is also expanding its cultivation and extraction capabilities to Portugal, where it currently owns over 9 million square feet of property with over 100,000 square feet of greenhouses and anticipates its first harvests in 2020. Clever Leaves is one of the world’s largest hemp and medical cannabis producers, with a global footprint encompassing brands, extraction facilities, cultivation operations and other investments across Canada, Colombia, Germany, Portugal, the United Kingdom and the United States, and more than 700 employees worldwide.

Press contacts:McKenna MillerKCSA Strategic Communications+1347-487-6197 mmiller@kcsa.com

Diana SigüenzaStrategic Communication Director Diana.siguenza@cleverleaves.com