Clever Leaves Sells Cannabis Processing Facility In Portugal To Curaleaf's Subsidiary
Portfolio Pulse from Vuk Zdinjak
Clever Leaves Holdings Inc. has sold its cannabis processing facility in Portugal to Terra Verde, an affiliate of Curaleaf Holdings, Inc. The sale, which includes lab and processing equipment, was closed for approximately $2.7 million. The proceeds are expected to improve Clever Leaves' cash position and will be used for working capital and general corporate purposes. Clever Leaves plans to wind down its Portuguese operations and consolidate its cultivation and manufacturing processes in Colombia.
July 05, 2023 | 12:39 pm
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Clever Leaves has sold its cannabis processing facility in Portugal, which is expected to improve its cash position and provide funds for working capital.
The sale of the facility will provide Clever Leaves with additional cash, which can be used for working capital and other corporate purposes. This could potentially improve the company's financial stability and make it more attractive to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Curaleaf, through its affiliate Terra Verde, has acquired a cannabis processing facility in Portugal from Clever Leaves.
The acquisition of the facility could potentially expand Curaleaf's operations and increase its production capacity, which could lead to increased revenues in the future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100