CLS Holdings, (OTCQB: CLSH) July Sales $1.9 Million 104% increase over July 2019

 

Miami, FL -- August 17, 2021 -- InvestorsHub NewsWire -- via EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on CLS Holdings, Inc. (OTCQB: CLSH)

 

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CLS Holdings, Inc. (OTCQB: CLSH) just announced the financial and operational results for its Nevada wholly owned subsidiaries for the month of July 2021 with net revenues of $1.9M and a gross margin of 50.4%.

 

These results represent a 40.9% year-over-year increase in monthly revenue, and a 104.1% increase in revenue when compared to July 2019.

 

CLS Holdings, Inc. (OTCQB: CLSH) by the numbers:

 

  • July 2021 net revenue increased by 40.9% year-over-year, and by 104.1% over July 2019. The Company met its gross margin goals, achieving 50.4% for the month, compared to 51.5% during July 2020.
  • The number of transactions processed at Oasis Cannabis increased by 18.8% year-over-year with an average order value of $58.14 during July 2021.
  • The Company's branded division, City Trees, achieved a 160.9% increase in year-over-year revenue.
  • The Company adapted quickly to revised COVID-19 restrictions set in place by the state of Nevada without interruption to the businesses.

 

 

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CLS Holdings, Inc. (OTCQB: CLSH) also recently released category performance results for its branded division, City Trees, for the month of June 2021.

 

Compared to overall market data for Nevada, as reported by BDS Analytics, City Trees' concentrate category achieved a 153.2% increase in the number of units sold at the retail level in June 2021 compared to June 2020.

 

The overall cannabis concentrate category in June 2021 in Nevada represented approximately $18 million in retail sales for the month. Of the 58 brands listed in the category by BDS Analytics for June 2021, City Trees achieved a ranking of the 3rd highest sold brand for the month, with over 25,000 units sold.

 

City Trees also continued to hold its standing as the number 1 selling tincture brand in the state of Nevada, with sales of its sublingual products having a 13.2% market share of the category by number of units sold in June 2021. The brand also holds the number 1 position for the entirety of 2021 in this category through June, with 15.9% of all tincture products sold in Nevada being produced at its state-of-the-art North Las Vegas extraction and conversion facility.

 

With the anticipated expansion of its production facility capacity, the Company intends to continue innovation in the cannabis categories within which it currently operates and anticipates the addition of new product categories to its portfolio in coming quarters.

 

 

CLS Holdings (OTCQB: CLSH) also recently announced the financial and operational results for its Nevada wholly owned subsidiaries for the month of May 2021 with net revenues of $1.9M and a gross margin of 53.6%. These results represent a 87.7% year-over-year increase in revenue and 8.7% increase in gross margin.

 

CLS Holdings, Inc. (OTCQB: CLSH) by the numbers:

 

  • Retail subsidiary, Oasis Cannabis, achieved a 59.41% increase in monthly net revenue year-over-year, alongside a 59.9% increase in the number of transactions processed. Gross margin for the dispensary was 50.4%.
  • Branded wholesale division, City Trees, recorded a 231.6% increase in year-over-year net revenue and a gross margin of 61.5% for May 2021.
  • Combined revenue for both divisions increased by 87% over May 2020, and by 91.8% over May 2019.
  • Year-over-year revenue increases for May 2021 at Oasis were driven largely by a substantial increase in order volume. The dispensary processed 22,576 transactions in the month of May 2021 - a 59.9% increase over May 2020.

 

With 100% same period year over year growth rate,

CLSH may not be at these levels much longer.

 

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This could be the biggest play we see in the cannabis space this year.

 

 

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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

 

 

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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

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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

 

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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 uncertainties associated with the continued spread of COVID-19 and the timing of vaccinations, 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.

 

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