CLS Holdings USA's Proposed Acquisition Oasis Cannabis Expands Product Line and Increases Market Share
January 18 2018 - 8:30AM
Marketwired
CLS Holdings USA's Proposed Acquisition Oasis Cannabis Expands
Product Line and Increases Market Share
More than Doubled its Number of Product SKUs
LAS VEGAS,
NV-(Marketwired - January 17, 2018) - CLS Holdings
USA, Inc. (OTCQB:
CLSH)
"CLS," a
development stage diversified cannabis company operating as
Cannabis Life Science, announced today continued growth in the
extraction and infused product business at its proposed acquisition
Oasis Cannabis.
The Oasis
conversion and extraction facility generated $200,000 in gross
revenues last month, its strongest result to-date since commencing
in mid-2017. The CityTrees
wholesale
product line has more than doubled its number of product SKUs
offered to retail dispensary customers, and now covers a variety of
concentrates, vape pens, and capsules, including high CBD versions.
The City Trees product line is now being sold in over 20
dispensaries in the Las Vegas and Reno markets.
Ben
Sillitoe,
CEO and Co-Founder of Oasis Cannabis, commented, "Our successful
development and rollout of the City Trees brand of wholesale
cannabis concentrate and infused products is a great achievement by
our experienced extraction and production team. With the addition
of new high CBD products, the company now offers a variety of both
adult use and medicinally focused products to better serve our
clients."
Oasis Cannabis
is a fully integrated cannabis operation in Nevada. Las Vegas-based
Oasis Cannabis' (http://oasiscannabis.com)
operations include a
grow, extraction
and conversion processing and a retail dispensary. CLS has now
executed a definitive agreement to acquire the Oasis Cannabis
companies. A non-refundable cash deposit has been paid by CLS. The
closing of the transaction, which is subject to the satisfaction of
conditions, is expected in the first quarter of 2018.
About Oasis Cannabis (http://oasiscannabis.com)
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. The company recently commenced wholesale offerings of
cannabis in Nevada with the launch of its City Trees brand of
cannabis concentrates and cannabis-infused products in August 2017.
An expansion of its cultivation and production facility is
currently underway and is expected to be completed during the
second quarter of 2018.
Disclaimer CLS Holdings
USA has entered into a definitive agreement to acquire Oasis
Cannabis, which is expected to close in the first quarter of 2018.
See CLS Holdings USA filing with the SEC for additional
details.
About CLS Holdings USA CLS Holdings
USA, Inc. (OTCQB:
CLSH)
plans to become
a diversified cannabis company and is shifting its corporate
strategy to becoming a fully licensed integrated cannabis producer
and retailer in Nevada and other western states. Its strategy and
business model will be similar to Canopy Growth, Aurora Cannabis
and GB Sciences.
CLS stands for
"Cannabis Life Sciences," in recognition of the Company's patent
pending 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.
Twitter:
@CLSHusa
Forward Looking Statements This
press release
contains forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These statements
relate to anticipated future events, future results of operations
or future financial performance. These forward-looking statements
include, but are not limited to, statements relating to whether
certain transactions will be completed, the terms of such
transactions, the descriptions of the companies and the business
that any potential target companies could bring to CLS Holdings. 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 and we cannot guaranty
that the proposed transactions described in this press release will
occur. 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.
CLS Holdings
USA has entered into a definitive agreement to acquire Oasis
Cannabis, which is expected to close in the first quarter of 2018.
See CLS Holdings USA filing with the SEC for additional
details.
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