Clever Leaves Holdings Inc. (NASDAQ: CLVR) confirmed Wednesday that it will export 30 kg of high-THC cannabis flower from its Portugal facility to the Biopharmaceutical Research Company (“BRC”), a DEA-licensed pharmaceutical company. BRC develops federally compliant active pharmaceutical ingredients for plant-based therapeutics in the U.S.
Not only does this fortify Clever Leaves’ entrance into the U.S. and solidifies BRC’s ability to transact internationally, but it positions the two organizations as among the first companies ever to commercially ship dried cannabis flower from Portugal to the U.S.
Under the deal, Clever Leaves’ product will be used for BRC’s pharmaceutical development projects.
“Exporting THC flower to BRC, a DEA-licensed company located in the U.S., not only represents an …