Cannabis: Clever Leaves, the first Colombian firm to hit Wall Street – Business – Economy

The Colombian company Clever Leaves, one of the main multinational operators and authorized producer of extracts of cannabis and pharmaceutical grade medicinal hemp, It will be the first national company in the sector to be listed on the Nasdaq market, the second largest automated and electronic stock exchange in the United States.

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This result was given by an agreement with Schultze Special Purpose Acquisition (SAMA) with which it will be combined and become a company that will be publicly traded on the Nasdaq.

Andrés Fajardo, founder of Clever Leaves, along with Julián Wilches and Gustavo Escobar, indicated that the entry into that market will take place in the fourth quarter and the combined company will trade under the symbol CLVR.

With the operation, he said, it is expected Enter a world of large investors and take advantage of synergies to raise capital and eventually think about future acquisitions.

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Clever Leaves has not been in the market for five years yet and has already obtained local and international financing for US $ 105 million and in Colombia it has invested US $ 55 million.
In the country it has a 17-hectare cultivation area in Pesca (Boyacá) and a production and processing plant in Tocancipá.

In addition, on Tuesday it announced that it was granted a license from Infarmed IP, which is the Portuguese regulatory authority that oversees the pharmaceutical industry, including medicinal cannabis, to grow, import and export dried flower with good agricultural and collection practices, produced in the company’s cultivation in that country, where it bought 85 hectares and in which there is already one operational hectare.

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The license marks the beginning of Clever Leaves’ cultivation activities in Europe and its ability to produce, market and export high-quality cannabis flower for medicinal purposes.

In addition, Fajardo said that the company also recently obtained the European Union Good Manufacturing Practice compliance certification for its post-harvest and laboratory operation from the Croatian Agency for Medicines and Medical Devices.

Andrés Fajardo said that in Colombia there is a misalignment of regulations compared to other countries, “despite the fact that we were among the first to advance in the approval of medical cannabis.” The company has exported to Canada, England, Poland, Israel, Germany, Chile and recently Australia.

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