2020 is the year of the SPAC’s (Special Purpose Acquisition Companies commonly referred to as blank cheque companies). Participating in a SPAC deal allows companies to become publicly traded entities and raise capital. (Watch this video for clarification of what a SPAC is)
Clever Leaves Holdings Inc (NASDAQ: CLVR) takes the cake for the biggest 2020 SPAC deal in the cannabis sector. The deal puts Clever Leaves among the best-capitalized companies in the cannabis industry, with more than $80 million in cash on its balance sheet.
CEO Kyle Detwiler joined Midas Letter to discuss Clever Leaves operations and facilities in Colombia, Portugal, the U.S., Canada, and Germany. Currently, they export medical cannabis products to over 14 countries on 5 continents, and they have plans to materially increase sales in 2021.
Watch this exclusive interview for everything an investor needs to know about Cleaver Leaves.