Australian Market Opens Up To Clever Leaves With GMP Certification For Cannabis Manufacturing

Clever Leaves Holdings Inc. CLVR, has been granted Australian GMP certification for its facilities in Colombia by the Therapeutic Goods Administration (TGA).

The certification authorizes Clever Leaves to manufacture cannabis products for medical marijuana patients in Australia, the Colombia-based company announced on Wednesday.

The Australian GMP certification from the TGA safeguards against product contamination, variations in compound concentrations, mix-ups, incorrect labeling and other potential issues. The certification is a prerequisite for the manufacturing and commercialization of cannabis products in the Australian market.

See also: Meet The First Vertically Integrated Medicinal Cannabis Company Certified As Carbon-Neutral

“The awarding of Australian-GMP certification signifies a major milestone for Clever Leaves by further highlighting our commitment to producing high-quality and safe cannabis products in one of the fastest growing and largest medicinal cannabis markets globally," Andres Fajardo, Clever Leaves CEO said. "We will continue distributing through our partners, with whom we are already distributing finished cannabis products to patients in the country."

According to official data from the TGA, during the first half of 2023, some 325,000 new Australian patients began treatment. In 2022, the number of new patients was 320,000 for the full year. In 2021, there were 150,000.

Clever Leaves also holds GMP certifications from the European Union, Colombia and Brazil.

CLVR Price Action

Clever Leaves' shares traded 0.96% lower at $2.06 per share during the pre-market session on Wednesday morning.

Now read: Clever Leaves Fights Back: Bold Moves Secure Its NASDAQ Position Amid Global Cannabis Market Uncertainties

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