Schultze Unique Function Acquisition Corp. and Clever Leaves International Inc.. Total Service Mix


Typical Shares and Warrants of the Integrated Business to Start Trading on Nasdaq Under Symbols CLVR and CLVRW on Friday, December 18, 2020

RYE BROOK, N.Y., Dec. 18, 2020 (WORLD NEWSWIRE)– Schultze Unique Function Acquisition Corp. (NASDAQ: SAMA, SAMAW, and SAMAU) (” SAMA”) and Clever Leaves International Inc. (” Clever Leaves”) revealed that following an unique conference of SAMA investors held the other day, they have actually finished their formerly revealed organization mix (the “Service Mix”), pursuant to which Clever Leaves Holdings Inc. (” Holdco”), a recently formed holding business, has actually gotten SAMA and Clever Leaves for overall factor to consider of roughly $205 million.

Upon conclusion of business Mix, SAMA ended up being a completely owned subsidiary of Holdco and the shares of typical stock and warrants of SAMA were exchanged for typical shares and warrants of Holdco. The Holdco typical shares and warrants are anticipated to start trading today on the Nasdaq Capital Market under the ticker signs “CLVR” and “CLVRW”, respectively.

Clever Leaves’ executive management group, led by Kyle Detwiler, Ceo; Andrés Fajardo, President; and Julian Wilches, Chief Regulatory Officer; will continue to lead the combined business. The board of directors of the combined business will be made up at first of Kyle Detwiler, Andres Fajardo, Gary Julien, Etienne Deffarges and Elisabeth DeMarse.

George J. Schultze, Chairman and CEO of SAMA prior to business Mix, stated, “We are extremely delighted to have actually finished our merger with Clever Leaves, which provides appealing worth to our investors. Our company believe that Clever Leaves is now amongst the best-capitalized business in the cannabis market and is well-positioned for significant development and success based upon its disruptive, low-priced and vertically incorporated running design. We anticipate dealing with its impressive and extremely accomplished management group to produce considerable worth with time.”

Kyle Detwiler, CEO of Clever Leaves, included, “Partnering with the SAMA group represents an excellent chance to take our industry-leading platform to the next level as we are now poised to gain from a considerably boosted balance sheet, Nasdaq listing, and SAMA’s experience helping business such as ours in wisely intensifying lucrative development. We anticipate that our combined proficiency and resources will even more allow us to speed up the commercialization of Clever Leaves’ top quality items along with broaden the business’s operations and circulation in appealing markets all over the world.”

Canaccord Genuity and EarlyBirdCapital worked as monetary consultants to SAMA, while BTIG, LLC worked as a capital markets consultant, and Greenberg Traurig, LLP, Stikeman Elliott and Posse Herrera Ruiz worked as legal consultants. Cowen worked as monetary consultant to Clever Leaves, while Freshfields Bruckhaus Deringer United States LLP, Dentons Canada LLP, and Brigard & & Urrutia Abogados SAS worked as legal consultants.

About Schultze Unique Function Acquisition Corp.
Schultze Unique Function Acquisition Corp. is a blank check business formed for the function of participating in a merger, stock market, property acquisition, stock purchase, recapitalization, reorganization or other comparable organization mix with several organizations or entities. SAMA’s sponsor is an affiliate of Schultze Property Management, LP, an alternative financial investment management company established in 1998 that concentrates on distressed, unique scenario and event-driven securities and has actually invested over $3.2 billion because beginning with a noteworthy track-record through its active financial investment technique. SAMA itself is backed by a skilled group of operators and financiers with an effective track-record of developing material worth in public and personal business. For additional information, please go to

About Clever Leaves International Inc.
Clever Leaves is a multi-national cannabis business with an objective to run in compliance with federal and state laws and with a focus on environmentally sustainable, massive growing and pharmaceutical-grade processing as the foundations of its international cannabis organization. With operations and financial investments in the United States, Canada, Colombia, Germany and Portugal, Clever Leaves has actually developed a reliable circulation network and international footprint, with a structure built on capital performance and fast development. Creative Leaves objectives to be among the market’s leading international cannabis business acknowledged for its concepts, individuals, and efficiency while cultivating a much healthier international neighborhood. For additional information, please go to

Forward Looking Declarations
This news release consists of positive declarations that include threats and unpredictabilities. Positive declarations are declarations that are not historic realities and might be recognized by the words “price quotes,” “forecasted,” “anticipates,” “prepares for,” “projections,” “strategies,” “plans,” “thinks,” “looks for,” “may,” “will,” “should,” “future,” “propose” and variations of these words or comparable expressions (or the unfavorable variations of such words or expressions). Such positive declarations undergo threats and unpredictabilities, which might trigger real outcomes to vary from the positive declarations. Aspects that might trigger such distinctions consist of, without constraint, the failure to acknowledge the expected advantages of business Mix; the capability to continue to fulfill Nasdaq’s listing requirements following the consummation of business Mix; expectations with regard to future operating and monetary efficiency and development, consisting of if or when Clever Leaves or Holdco will end up being lucrative; Clever Leaves’ capability to perform its organization strategies and technique and to get regulative approvals; prospective lawsuits including the celebrations; international financial conditions; geopolitical occasions, natural catastrophes, acts of God and pandemics, consisting of, however not restricted to, the financial and functional interruptions and other impacts of COVID-19; regulative requirements and modifications thereto; access to extra funding; and other threats and unpredictabilities suggested from time to time in filings with the SEC. The foregoing list of aspects is not special. Extra details worrying particular of these and other danger aspects is consisted of in Holdco’s and SAMA’s latest filings with the SEC and is consisted of in the last prospectus and conclusive proxy declaration, submitted with the SEC by Holdco and SAMA, respectively, on November 27, 2020. All subsequent composed and oral positive declarations worrying SAMA, Clever Leaves or Holdco, the deals explained herein or other matters and attributable to SAMA, Clever Leaves, Holdco or anyone acting upon their behalf are specifically certified in their whole by the cautionary declarations above. Readers are warned not to position unnecessary dependence upon any positive declarations, which speak just since the date made. Each of SAMA, Clever Leaves and Holdco specifically disclaims any responsibilities or carrying out to launch openly any updates or modifications to any positive declarations consisted of herein to show any modification in their expectations with regard thereto or any modification in occasions, conditions or scenarios on which any declaration is based.

Schultze Unique Function Acquisition Corp.
George J. Schultze: [email protected]
Gary M. Julien: [email protected]
( 914) 701-5260

Financier Relations
Raphael Gross
[email protected]
( 203) 682-8253

Sean Mansouri, CFA or Cody Slach
Entrance Financier Relations
[email protected]
( 949) 574-3860

Media Relations
KCSA Strategic Communications
McKenna Miller
[email protected]
( 347) 487-6197

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