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Wednesday, Jun 29, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Cantourage and Clever Leaves join forces to distribute cannabis in Germany

More products under the IQANNA brand are expected to be introduced in the coming weeks

Cantourage and Clever Leaves join forces to distribute cannabis in Germany
Photo via Clever Leaves

Cantourage GmbH and Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) have launched a second medical cannabis product into the German market.

On Thursday, the European firm and multinational licensed producer said its IQANNA No 10 high-THC dried flower is now available in German pharmacies. The flower is grown at Clever Leaves facility in Portugal where the company operates around 25,000-meter squares of active greenhouses.

The first Clever Leaves product to be introduced into the German market was  IQANNA No. 7 cannabis dried flowers.

IQANNA No 10 will be among the products with the highest THC levels available in German pharmacies.

In April, Cantourage GmbH announced a partnership with Canadian licensed producer Miracle Valley Medicinal Alternatives Inc. to start offering its Mac 1 cultivar products to German pharmacies.

Read more: 2021 sales up 27% to US$15.4M for Clever Leaves

Read more: Miracle Valley enters German market via pharmaceutical wholesaler

Cantourage CEO Philip Schetter said the launch of the IQANNA No 10 medical cannabis flowers is an important step in the company’s intensified partnership with Clever Leaves and further improves the already growing range of medical cannabis products available to German pharmacies and patients.

In April, Cantourage GmbH announced a partnership with Canadian licensed producer Miracle Valley Medicinal Alternatives Inc. to start offering its Mac 1 cultivar products to German pharmacies.

“Clever Leaves is a large-scale and experienced multinational operator with sustainable operations and excellent quality products from countries with exceptional natural growing conditions,” Schetter said.

“We very much look forward to further deepening our partnership and making further Clever Leaves products available to German patients, among whom we know that demand levels are very high”.

Clever Leaves CEO Andres Fajardo said that broadening distribution is an important goal, and the company is delighted that the successful strategic partnership with Cantourage has allowed them to take this next step in bringing high-quality products and brands into the European market.

Clever Leaves stock went up on Thursday by 0.84 per cent to $1.2 on the Nasdaq Stock Exchange.

 

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