Clever Leaves Announces Entry into Mexican Market Through Partnership with CBD Life

The partnership positions both companies to become leaders in the Mexican medical cannabis industry.

NEW YORK, June 16, 2021 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced it has entered into an active pharmaceutical ingredient (“API”) supply agreement with CBD Life Holding SAPI de CV (“CBD Life”), an emerging leader in the Mexican cannabis industry which offers a line of CBD Wellness and consumer products and medical cannabis products which are under development. Under the agreement, Clever Leaves will act as the API supplier for the development and manufacture of CBD Life’s medical cannabis products. Commencing with CBD isolate, Clever Leaves aims to be the ongoing supplier of the required APIs for CBD Life’s product manufacturing purposes.

The partnership is Clever Leaves’ first commercial agreement in the Mexican market, and it comes shortly after regulations were fully approved in the country, providing a strategic growth opportunity in one of the world’s largest pharmaceutical markets.

CBD Life has significant distribution in Mexico, with their products available in more than 18,000 points of sale. The company has established itself as an early-mover when it comes to providing cannabis-based products to the Mexican market. It also has formed strategic alliances with some of Mexico’s largest media groups and is the first cannabis company to launch a nationwide advertising campaign for non-psychoactive cannabinoid-based consumer products.

“As a multinational cannabis operator with substantial operations in Latin America, it has always been one of our top goals to identify leaders in the region and build long-lasting commercial relationships,” said Kyle Detwiler, CEO of Clever Leaves. “CBD Life’s brand positioning and local exposure are attractive, but it’s their commitment to high-quality, pharmaceutical-grade medical cannabis products that makes this an ideal partnership.”

CBD Life’s current product line is comprised of topicals (including the traditional Hispanic household brand “Mariguanol”), beverages, and food supplements infused with hemp-derived CBD. With a team with more than 40 years of experience in brand building and pharmaceutical distribution, CBD Life is strongly positioned to develop and market safe and innovative cannabis pharmaceutical solutions.