Clever Leaves Holdings Inc. (NASDAQ: CLVR), a multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced Wednesday that it has officially entered the U.S. CBD market through the launch of its consumer-oriented CBD line JoySol.
JoySol, the U.S. nutraceutical division of Clever Leaves, which is produced by Herbal Brands, Inc., an Arizona-based consumer goods manufacturer and a wholly owned subsidiary of Clever Leaves.
Clever Leaves is introducing JoySol with high-quality CBD, minor cannabinoids and proprietary terpene blends at a mass-market-accessible price point, according to a company press release.
JoySol will launch with oil drop blends, gummies and topicals that comprise a unique CBD Daily Care System, with easy-to-use products specific to each segment of the day — morning, midday and evening.
“CBD is a rapidly growing segment in the self-care and wellness category, yet we believe there is a dearth of high-quality product offerings and brands for both early-adopters of CBD and consumers which have not yet adopted products containing CBD,” said Kyle Detwiler, CEO of Clever Leaves.
“The launch of JoySol makes CBD easily accessible to the everyday individual via a direct-to-consumer approach that marks our entry into the U.S. cannabinoid consumer market.”
Spread The CBD Joy: “We want everyday consumers, from school teachers to construction workers to stockbrokers, to get more out of life, so we have leveraged CBD and other cannabinoids along with exclusive terpene blends to help support the body and mind,” said Bonnie Brown, Herbal Brands VP of marketing.
Clever Leaves, which listed on the Nasdaq via a SPAC acquisition in December 2021, acquired Herbal Brands in 2019. Since the acquisition, Herbal Brands has expanded its access to more than 20,000 retail distribution points in the U.S. through sales of its well-established nutraceutical products.
Clever Leaves has stated that this provides a strategic entry point and competitive advantage to the U.S. market as cannabinoids become federally legal and regulated.
Clever Leaves, meanwhile, has operations and investments in Canada, Colombia, Germany and Portugal via its distribution network and global footprint.
CLVR Price Action: Clever Leaves shares were trading 13.28% higher at $2.18 late Wednesday morning.
Photo courtesy of JoySol.
