CLS Holdings USA, Inc. (CLSH.QB) (CLSH.CNQ)

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CLS Holdings USA, Inc. Outpaces Statewide Market Growth with Category Leadership

Las Vegas, NV – November 17, 2020 — CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH), the ”Company” or ”CLS”, a diversified cannabis company operating as Cannabis Life Sciences, continues to grow its foothold in Nevada, with recent data listing its manufacturing division, City Trees, as the top selling brand in select product categories. With the completion of its September rebrand, this division is poised for continued growth and innovation through the remainder of the year. CLS entities overall also outpaced the growth of the Nevada cannabis market in September. Statewide cannabis industry revenue growth reached a year over year increase of 43% for the month, while CLS’ net revenue grew by 70.3%.

 

A Category and Industry Leader

 

According to figures generated by BDS Analytics, CLS’ branded division, City Trees, produced the top-selling products in the tincture product subcategory in Nevada from January through September 2020. With a total of 37,142 units sold, these products generated over $1.7 million dollars in sales – approximately 44% more than the second best-selling brand in the subcategory. Of the top 10 products sold in the tincture subcategory in 2020 through September, 4 were produced by City Trees. Of the $7.7 million tincture market in Nevada through September 2020, encompassing 34 different brands, City Trees held an average market share of 22.4%. Although flower and concentrate categories represented a majority of the overall cannabis market in Nevada in 2020, innovative product development and clean, modern branding have propelled this division and opened the door for category expansion for the Company.

 

 

As a result of continued development and innovation in the ingestible category, City Trees is rising in Nevada’s vape category. In the first three quarters of 2020, the brand has risen from the 7th to the 5th highest selling brand, with the greatest improvement occurring in the third quarter. In the ‘dabbable concentrate’ product subcategory, unit sales rose by over 115% during the third quarter of 2020 compared to the same quarter in 2019. With a focus on quality, sustainability, and innovation, City Trees is showing brand growth across all of the products categories in which it currently operates. This division’s growth is further driven by the expansion and utilization of its expanded and enhanced extraction and innovation facility, allowing for a variety of anticipated collaboration projects, new product launches, and growing capacity for extraction and toll processing.

 

The Company’s combined retail and wholesale divisions outpaced the year over year growth of the Nevada cannabis market for September, with the state seeing a 43% revenue increase from September 2019 to September 2020, and CLS entities achieving a 70.3% revenue increase for the same periods. Month over month from August to September 2020, the Nevada cannabis market declined by 1% while CLS’ entities increased revenue by 21.2%. These results are a testament to the measured, strategic approach the Company has taken to growing its businesses in ways that ensure the safety and comfort of its customers and employees while capturing new revenue streams that coincide with new market norms.

 

About CLS Holdings USA, Inc.

 

CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CLS stands for “Cannabis Life Sciences,” in recognition of the Company’s patented proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company’s business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services. https://www.clsholdingsinc.com/

Twitter: @CLSHoldingsUSA

 

 

Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. In February 2019, it was named “Best Dispensary for Pot Pros” by Desert Companion Magazine. In August 2017, the company commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. http://oasiscannabis.com

 

Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production and distribution company. Offering a wide variety of products with consistent results, City Trees products are available in numerous dispensaries throughout the state of Nevada. https://citytrees.com

 

 

Forward Looking Statements

 

This press release contains certain ”forward-looking information” within the meaning of applicable Canadian securities legislation and ”forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the ”forward-looking statements”). These statements relate to, among other things, the impact of the COVID-19 virus on our business, the results of our initiatives to retain our employees and strengthen our relationships with our customers and community during the pandemic, the effect of our initiatives to expand market share and achieve growth during and following the pandemic, results of operations and financial performance, anticipated future events, and the effectiveness of our business practices during the pandemic. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. Due to the speed with which the COVID-19 situation is developing and the uncertainty of its magnitude, outcome and duration, it is not possible to estimate its impact on our business, operations or financial results; however, the impact could be material.  In some cases, you can identify forward looking statements by terminology such as ”may,” ”might,” ”will,” ”should,” ”intends,” ”expects,” ”plans,” ”goals,” ”projects,” ”anticipates,” ”believes,” ”estimates,” ”predicts,” ”potential,” or ”continue” or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements.  We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events. See CLS Holdings USA filings with the SEC and on its SEDAR profile at www.sedar.com for additional details.

 

Contact Information:

 

Corporate:

Chairman and CEO

Jeff Binder

 

President and COO

Andrew Glashow

 

888-438-9132

 

Investor Relations:

investors@clsholdingsinc.com

 

Source: CLS Holdings USA, Inc.

CLS Holdings USA, Inc. Reports Exceptional October Financial Results With a Fourth Consecutive Record Revenue Month

Las Vegas, NV – November 10, 2020 – CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH), the ”Company” or ”CLS”, a diversified cannabis company operating as Cannabis Life Sciences, today announced the financial and operational results for its Nevada wholly-owned subsidiaries for the month of October 2020 with net revenues of $1.787M and Gross Margin of 50.12%. These results represent the fourth consecutive record revenue month for the Company, with both the highest month of sales and highest single-day sales at its retail division, Oasis Cannabis.

 

CLS Nevada October 2020 Financial and Operational Highlights

 

  • October 2020 net revenue increased by 74.24% over October 2019, and by 4.85% over September 2020, the previous highest revenue month for the Company.
  • October 2020 gross margin of 50.12%, a 1.56% increase over October 2019.
  • The average order size at Oasis grew from $37.00 during October 2019 to $57.79 during October 2020, an increase of 56.19%.
  • CLS unveiled its new company website in October, with a refreshed, modern aesthetic and improved functionality, marking its third digital asset upgrade completed this year.

 

Four Months of Record-Setting Revenue

 

October net revenue at CLS Nevada entities reached another new high for the Company, achieving a fourth consecutive record month, with total net revenue reaching $1.787 million across all divisions, representing a 74.24% increase over October 2019, and 4.85% increase over September 2020. The total number of transactions processed at Oasis increased by 10.4% compared to October 2019, rising from an average of 675 transactions per day to 745 transactions per day including delivery and curbside services. Further, the average order size at Oasis grew from $37.00 during October 2019 to $57.79 during October 2020, an increase of 56.19% . These increases are especially notable in light of the continued reduction in operating hours at the dispensary. Along with reaching the highest net revenue month for Oasis, the division also achieved its highest single-day sales total on October 16.

 

“The momentum of the summer has carried through to the fall, and we couldn’t be more proud of our teams in Nevada”, said Company President and COO Andrew Glashow. “We are still operating under significantly reduced hours with a maintained focus on the health and safety of our customers and team members on both the retail and manufacturing sides. Moving into the holiday season, we will remain vigilant on this front while nurturing the strong relationships we’ve built in the community.”

 

The Company also unveiled its new website in the third week of October. The completion of this update marks the third digital upgrade in 2020, with a refreshed website for Oasis released in June and a new website for City Trees launched in alignment with its rebrand in September. These digital assets, along with providing aesthetic updates, continue to build revenue streams for Oasis and City Trees with indirect online sales and easily accessible curbside and delivery services at the retail level.

 

About CLS Holdings USA, Inc.

 

CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CLS stands for “Cannabis Life Sciences,” in recognition of the Company’s patented proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company’s business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services. https://www.clsholdingsinc.com/

 

Twitter: @CLSHoldingsUSA

 

Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. In February 2019, it was named “Best Dispensary for Pot Pros” by Desert Companion Magazine. In August 2017, the company commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. http://oasiscannabis.com

 

Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production and distribution company. Offering a wide variety of products with consistent results, City Trees products are available in numerous dispensaries throughout the state of Nevada. https://citytrees.com

 

Forward-Looking Statements

 

This press release contains certain ”forward-looking information” within the meaning of applicable Canadian securities legislation and ”forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the ”forward-looking statements”). These statements relate to, among other things, the impact of the COVID-19 virus on our business, the results of our initiatives to retain our employees and strengthen our relationships with our customers and community during the pandemic, the effect of our initiatives to expand market share and achieve growth during and following the pandemic, results of operations and financial performance, anticipated future events, and the effectiveness of our business practices during the pandemic. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. Due to the speed with which the COVID-19 situation is developing and the uncertainty of its magnitude, outcome and duration, it is not possible to estimate its impact on our business, operations or financial results; however, the impact could be material. In some cases, you can identify forward-looking statements by terminology such as ”may,” ”might,” ”will,” ”should,” ”intends,” ”expects,” ”plans,” ”goals,” ”projects,” ”anticipates,” ”believes,” ”estimates,” ”predicts,” ”potential,” or ”continue” or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events. See CLS Holdings USA filings with the SEC and on its SEDAR profile at www.sedar.com for additional details.

 

Contact Information:
Corporate:
Chairman and CEO
Jeff Binder

 

President and COO
Andrew Glashow
888-438-9132

 

Investor Relations:
investors@clsholdingsinc.com

 

SOURCE: CLS Holdings USA, Inc.

About CLS Holdings USA


Everything Cannabis, Rolled into One Company

We Dabble in a Little Bit of This and a Lot of That

 

CLS Holdings, better known as Cannabis Life Sciences, is an integrated cannabis producer and retailer serving the discerning consumer through our brands, City Trees and Oasis Cannabis. Our patented proprietary method of extracting cannabinoids from the marijuana plant includes converting them into products with a higher level of quality and consistency.

 

We are a true seed to sale, vertically integrated company leading the cannabis industry. City Trees is where it all begins. Our warehouse includes 10,000 square feet of dedicated space for cultivation, allowing us to grow and preserve high-quality stock with valuable genetics that yields consistent results. Oasis Cannabis is where we share our love of cannabis with the public. Located in Downtown Las Vegas, Oasis is our 5,000 square foot retail location offering personalized delivery, pick-up, and in-store experiences.

 

Company Milestones – A Developing Legacy in the Cannabis Market

 

Completed the Purchase of Oasis Cannabis Dispensary in Las Vegas

 

 

Completed the Purchase of City Trees Production and Innovation Facility in North Las Vegas

 

 

Successfully Completed Multiple Capital Infusions

 

 

 

Rapid Growth of Oasis Brand

 

 

Completed the Build-out of $4M State of the Art Conversion and Extraction Facility Capable of Producing $20M in Revenue

 

 

Obtained Patents for Extraction IP in the US, EU, and Canada

 

 

USD $7.5M in Cash and Current Assets

 

 

Expansive Growth for the Future

We are poised to expand our business significantly as the need and desire for cannabis expand in the Nevada market and its large tourist base.

 

Harvesting the Best Marijuana Has to Offer

Our proprietary method of extracting cannabinoids generates a higher level of effect-based or strain-specific extracts that can be concentrated into oils, waxes, edibles, and shatter. We believe this proprietary process and the ability to manufacture these refined cannabinoids provide us with a strategic advantage in the cannabis industry.

 

Proprietary Methods of Extraction and Conversion

Ray Keller, a shareholder of CLS, and a founder of CLS Labs, developed our US patented proprietary process for extracting, cleaning, and converting cannabinoids from cannabis plants. This proprietary extraction and conversion methodology allows for cannabinoid concentrates to be ingested in several ways, including through vaporization and used for a variety of pharmaceutical and other purposes.

 

Competitive Advantages

Our proprietary process produces a cleaner, higher quality product, and a significantly higher yield than most cannabinoid extraction processes currently existing in the marketplace.

 

Partner with an Innovator in the Cannabis Market

 

Grow with Us and Plant Roots in Nevada and Beyond

 

Partnerships are vital for the awareness, growth, and sustainability of the cannabis market. Partnering with CLS supports our ongoing science-based focus to create a thriving business model supporting our stakeholders, employees, and customers.

 

Taking CLS to the Next Level

 

Leadership that Brings a Full Spectrum of Experience to the Future

 

Our leadership team stems from innovators who focus on science, business, and community involvement to strengthen our company and our 75 plus employees. Together, we see the future of cannabis and believe we are at the forefront of this emerging market.

 

Source:  https://www.clsholdingsinc.com/

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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

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