National
Álvaro Covões, from Everything is New, buys Clever Leaves facilities in Alentejo for 1.4 million euros
Álvaro Covões, founder and CEO of the show promotion agency 'Everything is New', which organizes one of the biggest music festivals in Portugal, NOS Alive, purchased the Clever Leaves medicinal cannabis plantation, in Alentejo, for 1,4 million euros. The news was released today by Jornal de Negócios .
The former Clever Leaves medical cannabis cultivation facilities in Portugal are around 850 square meters. Álvaro Covões is the new owner of the company.
Clever Leaves, which carried out the collective dismissal of 63 workers and abandoned operations in Portugal last year, had land measuring more than 850 thousand square meters in São Teotónio, in the municipality of Odemira, which was acquired at the end of January by Álvaro Covões and his wife, Cristina Covões.
After obtaining a license from Infarmed to operate in the medicinal cannabis market in Portugal, in 2020, Clever Leaves decided to concentrate its operations in Colombia and abandon its activity in Portugal. The EU-GMP medical cannabis processing and post-harvest unit has already had been sold to Curaleaf around nine months ago, in a transaction valued at approximately 2,5 million euros, including the laboratory and all processing equipment.
CannaReporter is trying to contact Álvaro Covões to obtain more information about this operation, but without success so far.
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[Disclaimer: Please note that this text was originally written in Portuguese and is translated into English and other languages using an automatic translator. Some words may differ from the original and typos or errors may occur in other languages.]____________________________________________________________________________________________________
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With a degree in Journalism from the University of Coimbra, Laura Ramos has a postgraduate degree in Photography and has been a Journalist since 1998. Winner of the Business of Cannabis Awards in the category "Journalist of the Year 2024", Laura was a correspondent for Jornal de Notícias in Rome, Italy, and Press Officer in the Office of the Minister of Education of the 21st Portuguese Government. She has an international certification in Permaculture (PDC) and created the street-art photography archive “Say What? Lisbon” @saywhatlisbon. Co-founder and Editor of CannaReporter® and coordinator of PTMC - Portugal Medical Cannabis, Laura directed the documentary “Pacientes” and was part of the steering group of the first Postgraduate Course in GxP's for Medicinal Cannabis in Portugal, in partnership with the Military Laboratory and the Faculty of Pharmacy of the University of Lisbon.
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