Clever Leaves expands international capabilities and improvement of market particular pharmaceutical merchandise

NEW YORK, Dec. 10, 2020 (GLOBE NEWSWIRE) — Clever Leaves (“Clever Leaves”), a number one multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, immediately introduced it has efficiently delivered the primary cargo of EU GMP certified hashish standardized extract from Colombia to Germany, imported by their distribution companion Paesel + Lorei GmbH & Co. KG. (“P&L”). To obtainable data, that is the primary authorized cargo of an EU GMP certified pharmaceutical managed substance from Colombia to Germany.

The cargo contained an preliminary pattern of Clever Leaves standardized hashish excessive CBD extract manufactured underneath EU-GMP certification with greater than 0.2% of THC, which makes it a managed substance in Colombia and Germany, and is anticipated to be obtainable within the German market in 2021. Clever Leaves partnered with P&L, a world supplier of outsourcing providers and a developer of particular distribution options specializing within the pharmaceutical trade, for the execution of the worldwide cargo.

Germany is one of Europe’s largest hashish markets and has proven to be one of the main worldwide income alternatives for international hashish producers. With strict high quality requirements and EU GMP certification necessities, the German regulatory strategy focuses on creating a high quality and protected marketplace for cannabis-derived medical merchandise within the nation. Clever Leaves, in compliance with all hashish laws within the international locations served, has efficiently imported to 14 international locations on 5 continents.

“The shipment demonstrates our execution on the pipeline from Colombia to an incredibly important market, Germany, Europe’s largest cannabis market and one of the most influential pharmaceutical markets in the world,” mentioned Kyle Detwiler, CEO of Clever Leaves. “Our ability to develop and deliver market leading products opens doors, not only for Clever Leaves, but also to improve the quality of life and care for patients in need of these products.”

“We are delighted to cooperate with Clever Leaves´ multi-national team and to facilitate their entrance of the German market with their products,” mentioned Dr. Anne Pfitzner, Managing Director of Paesel + Lorei.

Clever Leaves boasts a number of worldwide certifications together with a Good Manufacturing Practices (GMP) Certification by INVIMA; Good Agricultural and Collecting Practices (GACP) Certification; and European Union Good Manufacturing Practices (EU GMP) Certification.

Clever Leaves was additionally just lately within the information after they introduced a possible enterprise mixture with Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA, SAMAW, and SAMAU) (“SAMA”), pursuant to which a newly shaped holding firm, Clever Leaves Holdings Inc. (“Holdco”), will purchase SAMA and Clever Leaves. The transaction is anticipated to shut within the fourth quarter of 2020 and the mixed firm is anticipated to commerce on Nasdaq underneath the image “CLVR”.

About Clever Leaves International Inc.
Clever Leaves is a multi-national hashish firm with a mission to function in compliance with federal and state legal guidelines and with an emphasis on ecologically sustainable, large-scale cultivation and pharmaceutical-grade processing because the cornerstones of its international cannabinoid enterprise. With operations and investments in Canada, Colombia, Germany, Portugal, and the United States, Clever Leaves has created an efficient distribution community and international footprint, with a basis constructed upon capital effectivity and speedy development. Clever Leaves goals to be one of the trade’s main international cannabinoid corporations acknowledged for its ideas, individuals, and efficiency whereas fostering a more healthy international group.

About Schultze Special Purpose Acquisition Corp.
Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA, SAMAW, and SAMAU) is a clean verify firm shaped for the aim of getting into right into a merger, inventory trade, asset acquisition, inventory buy, recapitalization, reorganization or different related enterprise mixture with a number of companies or entities. SAMA’s sponsor is an affiliate of Schultze Asset Management, LP, an alternate funding administration agency based in 1998 that focuses on distressed, particular state of affairs and event-driven securities and has invested over $3.2 billion since inception with a notable track-record by way of its energetic funding technique.  SAMA itself is backed by an skilled staff of operators and traders with a profitable track-record of creating materials worth in private and non-private corporations.

About Paesel + Lorei GmbH & Co. KG.
Paesel & Lorei is specialised service supplier for tailored options within the pharmaceutical trade alongside the worth chain. The firm optimizes processes and ensures demanding, excessive stage logistics providers. Whether as a pre-wholesaler, logistics supplier, distributor or whether or not dealing with narcotics or promotional supplies – the corporate acts because the “extended workbench” of their prospects. The firm is esteemed for high-quality, dependable and customer-orientated logistical options.

Additional Information and Where to Find It
In reference to the Business Combination, Holdco has filed a Registration Statement with the SEC which features a prospectus with respect to Holdco’s securities to be issued in reference to the Business Combination and a proxy assertion with respect to SAMA’s stockholder assembly at which SAMA’s stockholders can be requested to vote on the proposed Business Combination. SAMA, Clever Leaves and Holdco urge traders, stockholders and different individuals to learn the Registration Statement, together with the proxy assertion/prospectus, in addition to different paperwork filed with the SEC, as a result of these paperwork include vital details about the Business Combination. SAMA has mailed a definitive proxy assertion and different related paperwork to its stockholders as of the document date for its stockholder assembly. SAMA’s stockholders will even have the ability to get hold of a replica of such paperwork, with out cost, by directing a request to: Schultze Special Purpose Acquisition Corp, 800 Westchester Avenue, Suite 632, Rye Brook, New York 10573; e-mail: sdu@samco.web. These paperwork, as soon as obtainable, will also be obtained, with out cost, on the SEC’s web page (http://www.sec.gov).

Participants in Solicitation
SAMA, Clever Leaves, Holdco and their respective administrators, govt officers and different members of their administration and workers, underneath SEC guidelines, could also be deemed to be members within the solicitation of proxies of SAMA stockholders in reference to the Business Combination. Information relating to the individuals who could, underneath SEC guidelines, be deemed members within the solicitation of proxies to SAMA’s stockholders in reference to the Business Combination is ready forth within the definitive proxy assertion/prospectus contained within the Registration Statement. Information regarding the pursuits of SAMA’s and Clever Leaves’ members within the solicitation, which can, in some instances, be totally different than these of SAMA’s and Clever Leaves’ fairness holders typically, can also be set forth within the definitive proxy assertion/prospectus contained within the Registration Statement.

Forward Looking Statements
This press launch contains forward-looking statements that contain dangers and uncertainties. Forward-looking statements are statements that aren’t historic details and could also be recognized by the phrases “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these phrases or related expressions (or the damaging variations of such phrases or expressions). Such forward-looking statements are topic to dangers and uncertainties, which may trigger precise outcomes to differ from the forward-looking statements. Factors that will trigger such variations embrace, with out limitation, SAMA’s and Clever Leaves’ incapability to full the transactions contemplated by the Business Combination; issues found by the events as they full their respective due diligence investigation of the opposite; the lack to acknowledge the anticipated advantages of the Business Combination, which can be affected by, amongst different issues, the quantity of money obtainable following any redemptions by SAMA stockholders; the flexibility to meet Nasdaq’s itemizing requirements in reference to or following the consummation of the Business Combination; prices associated to the Business Combination; expectations with respect to future working and monetary efficiency and development, together with when Clever Leaves or Holdco will grow to be money movement optimistic; the timing of the completion of the Business Combination; Clever Leaves’ capacity to execute its enterprise plans and technique and to obtain regulatory approvals; potential litigation involving the events; international financial situations; geopolitical occasions, pure disasters, acts of God and pandemics, together with, however not restricted to, the financial and operational disruptions and different results of COVID-19; regulatory necessities and adjustments thereto; entry to further financing; and different dangers and uncertainties indicated from time to time in filings with the SEC. Other elements embrace the chance that the proposed transaction doesn’t shut, together with due to the failure to obtain required safety holder approvals or the failure to fulfill different closing situations. The foregoing record of elements is just not unique. Additional info regarding sure of these and different threat elements is contained in Holdco’s and SAMA’s most up-to-date filings with the SEC and is contained within the Registration Statement, together with the definitive proxy assertion/prospectus. All subsequent written and oral forward-looking statements regarding SAMA, Clever Leaves or Holdco, the transactions described herein or different issues and attributable to SAMA, Clever Leaves, Holdco or any particular person performing on their behalf are expressly certified of their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which converse solely as of the date made. Each of SAMA, Clever Leaves and Holdco expressly disclaims any obligations or endeavor to launch publicly any updates or revisions to any forward-looking statements contained herein to replicate any change of their expectations with respect thereto or any change in occasions, situations or circumstances on which any assertion is predicated.

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