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LEASES

3 Months Ended

Mar. 31, 2023

10. LEASES

The Company’s leases primarily consist of administrative real estate leases in Colombia, Germany and the United States, and the Company’s cultivation property in Santander, Colombia. Management has determined all the Company’s leases are operating leases through March 31, 2023. Information regarding the Company’s leases is as follows:

		Three months ended March 31, 2023				Three months ended March 31, 2022
Components of lease expense
Operating lease expense		$	366			$	207
Short-term lease expense			73				206
Total lease expense		$	439			$	413

Other Information
Operating cash flows from operating leases		$	364			$	273
ROU assets obtained in exchange for new operating lease liabilities			97				728
Weighted-average remaining lease term in years for operating leases			3.4				3.8
Weighted-average discount rate for operating leases			7.7	%			8.5	%

Maturities of operating lease liabilities as of March 31, 2023 are as follows:

Thousands of United States dollars		Operating Leases
2023		$	1,411
2024			661
2025			448
2026			394
2027			167
Thereafter			186
Total future lease payments			3,267
Less: imputed interest			(412	)
Total lease liabilities			2,855
Less: current lease liabilities			(1,241	)
Total non-current lease liabilities		$	1,614

Most of the Company’s leases contain renewal options to continue the leases for another term equivalent to the original term, which are generally up to two years. The lease liabilities above include renewal terms that management has executed or is reasonably certain of renewing, which only included leases that would have expired in 2023.