The multinational cannabis producer Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) has obtained GMP certification from Brazilian authorities, enabling the company to supply cannabis to patients in the country.
The company announced the accomplishment on Tuesday having received the certification from ANVISA, the Brazilian Health Regulatory Agency.
Obtaining the GMP approval from Brazilian authorities marks the company’s fifth official international cannabis certification. Clever Leaves says it is the only cannabis company that is GMP-certified in Colombia, Brazil and the European Union.
“The awarding of Brazilian-GMP certification signifies a major milestone for Clever Leaves by further highlighting our commitment to producing high-quality and safe cannabis products that are trusted internationally and meet the highest regulatory standards,” said the company’s CEO Andres Fajardo, adding that the Brazilian market could potentially become the largest in Latin America and one of the biggest worldwide.
Similar to the stringent requirements of EU-GMP certification, ANVISA’s Brazilian-GMP certification is intended to prevent product contamination, reduce variations in compounds concentrations and prevent incorrect labelling among other things.
Currently, medical cannabis is legal in Brazil but adult-use or recreational pot is not.
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Clever leaves has 1.8 million square feet of cultivation space in Colombia, including an extraction facility capable of processing 104,400 kilograms of dried flower every year. The company says it is currently in the process of expanding to increase that capacity to 324,000 kilograms annually.
The company’s cannabis infrastructure in the European Union is headquartered in Germany where it runs a subsidiary called Clever Leaves Germany GmbH based in Hamburg.
Clever Leaves’ footprint spans across North America, Australia, New Zealand, Latin America, South Africa and other EU countries like the Czech Republic and Spain.
The company is involved with cultivation, extraction, genetics and cannabis research and development.
Clever Leaves shares dropped by 1.03 per cent Tuesday to US$0.25 on the Nasdaq Stock Exchange.