Clever Leaves and Ethypharm Announce German Pharmaceutical Cannabis Partnership

Clever Leaves Partners with Leading European Pharmaceutical Company to Market EU-GMP Certified Medical Cannabis Products

NEW YORK, March 17, 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, today announced the signing of a supply agreement with Ethypharm (“Ethypharm”), a European manufacturer and distributor of pharmaceutical products, for the sale of medical cannabis extracts produced in Clever Leaves’ EU-GMP certified facilities in Colombia. The initial portfolio of products includes high-CBD, high-THC, and balanced CBD and THC formulations developed exclusively by Clever Leaves to meet the regulatory needs of the German market.

The products manufactured under this partnership will be sold within Ethypharm’s branded portfolio and will expand Ethypharm’s core product offering focusing on Central Nervous System (CNS) diseases and conditions, chronic pain, and critical care treatments. The portfolio will be sold in Germany through Ethypharm’s local subsidiary, Ethypharm GmbH, and distributed directly to pharmacies, where they will be dispensed to patients as prescribed medicinal products.

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