Clever Leaves Holdings Inc. announced its commercial agreement with Praetorian Global Inc. to produce premium quality cannabis flower and downstream products from Clever Leaves cultivation facility in Colombia for distribution globally. Flower products resulting from the partnership will be available by second quarter of 2024 to medical cannabis patients globally, including the European Union, United Kingdom, and Australia. The agreement between Clever Leaves and Praetorian will allow Clever Leaves to access new technology and genetics to complement the Company's portfolio of products and further enable the licensing and commercialization in international markets of exclusive genetics for Clever Leaves that are strongly identified and driven by Praetorian-owned cultivation IP.

By the end of 2023, Praetorian currently expects that its products will be sold across four continents. Under the agreement, Clever Leaves and Praetorian will select specific strains for initial trials at the Company's Colombian cultivation, from which the R&D team at Clever Leaves will be able to further progress in its product portfolio, offering a more diverse variety of carefully characterized cannabis solutions for medicinal purposes around the world. The partnership also includes a license of know-how and procedures to jointly achieve high-quality cannabis products from Clever Leaves' cultivation and production facilities in Colombia.