Clever Leaves Shares Trading Higher On Its Colombian Cannabis Launching In Australia

Clever Leaves Holdings Inc. CLVR CLVRW announced that its Colombian flower is now available to patients in Australia through a partnership with Australian Natural Therapeutics Group (ANTG).

The products are available to medical patients in Australia under ANTG’s “Global Selects” brand portfolio.

“As Australia’s medical market continues to grow, working with ANTG marks a significant milestone for us," Clever Leaves CEO Andrés Fajardo said. "We are committed to facilitating access to our Colombian flower for those seeking to enhance their quality of life through medicinal products cultivated in our country."

Clever Leaves' working relationship with ANTG "has been exceptional," Fajardo added.

ANTG's commitment to research, certified quality standards, and distribution capabilities, are "all in line with our goal to produce the highest quality, cannabinoid-based products for medical patients worldwide.”

In Australia, medical cannabis is used to treat thousands of patients each year for conditions including anxiety, inflammation, seizures, and pain management. According to official data from the Therapeutic Goods Administration, in 2022 there were 319,000 reported patients, while in 2021 this number was 150,000. Additionally, interest in local clinical research to test the efficacy of cannabinoid products for numerous medical conditions is increasing. Current research areas include sleep apnea, PTSD, cancer, depression, and dementia, among others.

Price Action: Clever Leaves shares were trading 7.22% higher at $0.2198 per share at the time of writing Wednesday morning.

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