Schultz Special Purpose Acquisition, Clever Leaves complete combination

Schultze Special Purpose Acquisition and Clever Leaves International announced that following a special meeting of SAMA stockholders held yesterday, they have completed their previously announced business combination, pursuant to which Clever Leaves Holdings, a newly formed holding company, has acquired SAMA and Clever Leaves for total consideration of approximately $205M. Upon completion of the Business Combination, SAMA became a wholly owned subsidiary of Holdco and the shares of common stock and warrants of SAMA were exchanged for common shares and warrants of Holdco. The Holdco common shares and warrants are expected to begin trading today on the Nasdaq Capital Market under the ticker symbols "CLVR" and "CLVRW", respectively. Clever Leaves' executive management team, led by Kyle Detwiler, Chief Executive Officer; Andres Fajardo, President; and Julian Wilches, Chief Regulatory Officer; will continue to lead the combined company. The board of directors of the combined company will be composed initially of Kyle Detwiler, Andres Fajardo, Gary Julien, Etienne Deffarges and Elisabeth DeMarse.