Clever Leaves and Praetorian Announce Exclusive Agreement to Produce Cannabis Genetics in Colombia
11 April 2023 - 2:46PM
Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves”
or the “Company”), a global medical cannabis company, announced
today its commercial agreement with US-based Praetorian Global Inc.
(“Praetorian”), a leading brand owner and intellectual property
provider to the global cannabis and hemp industry, to produce
premium quality cannabis flower and downstream products from Clever
Leaves cultivation facility in Colombia for distribution globally.
Flower products resulting from the partnership will be available by
Q2 2024 to medical cannabis patients globally, including the
European Union, United Kingdom, and Australia.
The agreement between Clever Leaves and
Praetorian will allow Clever Leaves to access new technology and
genetics to complement the Company’s portfolio of products and
further enable the licensing and commercialization in international
markets of exclusive genetics for Clever Leaves that are strongly
identified and driven by Praetorian-owned cultivation IP.
Beginning in early-2022, Praetorian launched its
genetic licensing line of business and currently has executed
agreements with licensees whose total global canopy exceeds 8
million square feet. Praetorian’s genetic library is now widely
considered to include not only the most flavor-forward and
aesthetically pleasing, but also the most production-efficient and
highest yielding genetics in the industry, particularly through its
Oni Seed Co. (“Oni”) portfolio and expertise.
Praetorian is also well-known in the US and
international legal cannabis communities for its products
cultivated from carefully developed genetics, including through the
Binske and Oni consumer-facing brands. Praetorian provides access
to its intellectual property mainly through licensing agreements
with exclusive partners to ensure that its brands, genetics, and
products maintain efficacy and consistency across all markets. By
the end of 2023, Praetorian currently expects that its products
will be sold across four continents.
Under the agreement, Clever Leaves and
Praetorian will select specific strains for initial trials at the
Company’s Colombian cultivation, from which the R&D team at
Clever Leaves will be able to further progress in its product
portfolio, offering a more diverse variety of carefully
characterized cannabis solutions for medicinal purposes around the
world. The partnership also includes a license of know-how and
procedures to jointly achieve high-quality cannabis products from
Clever Leaves’ cultivation and production facilities in
Colombia.
“Our partnership with Praetorian will enable us
to come together and produce the best genetics through Colombia’s
prime cultivation conditions and the utilization of innovative
technology with support from Praetorian. We are thrilled to be
working with one of the most prominent names in the U.S. cannabis
industry to produce high-quality cannabis genetics, which continues
to be a key priority for Clever Leaves,” said Andrés Fajardo, CEO
of the Company. “We are aligned with Praetorian in our plans to
grow our R&D efforts and our dedication to providing an
elevated experience with the best cannabis products for
patients.”
“This partnership is in line with our strategic
focus of expansion and diversification across emerging
international cannabis markets and sales channels, which
collectively represent one of the fastest growing segments in the
industry,” said Jacob Pasternack, Founder, Chairman and CEO of
Praetorian. “We believe Clever Leaves has unique potential to
capitalize on this burgeoning opportunity.”
About Clever Leaves Holdings
Inc.Clever Leaves is a global medical cannabis company.
Its operations in Colombia produce EU GMP cannabinoid active
pharmaceutical ingredients (API) and finished products in flower
and extract form to a growing base of B2B customers around the
globe. Clever Leaves aims to disrupt the traditional cannabis
production industry by leveraging environmentally sustainable,
ESG-friendly, industrial-scale and low-cost production methods,
with the world’s most stringent pharmaceutical quality
certifications. For more information, please
visit https://cleverleaves.com/en/home/ and follow Clever
Leaves on Twitter and LinkedIn.
About Praetorian
Praetorian is a leading brand owner and
intellectual property provider to the global cannabis and hemp
industry. Praetorian creates and develops unique portfolios of
cannabis, hemp and lifestyle-related intellectual property,
including specialized and proprietary product formulations,
cultivars, and cultivation and production methodologies and
techniques leading to award-winning premium consumer cannabis and
hemp products. Praetorian, through its house of brands (including
Binske and Oni) and its genetic licensing line of business,
provides access to its vast library and portfolio of intellectual
property and over 100 years of combined cannabis cultivation and
genetics knowledge and experience primarily through licensing
arrangements with partners ranging from craft producers to
multi-state operators and large-scale cultivators, enabling those
partners to bring Praetorian’s and their own brands and products to
market. For more information, visit www.praetorianglobal.com.
Clever Leaves Press
Contacts:
Rich DiGregorioKCSA Strategic
Communications+1-856-889-7351cleverleaves@kcsa.com
Clever Leaves Investor Inquiries:
Cody Slach and Jackie KeshnerGateway Group, Inc.
+1-949-574-3860CLVR@gatewayir.com
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