CLS
Holdings, (OTCQB:
CLSH) $1.9
million Net Revenue for May
87%
Increase
Miami, FL --
(June
15,
2021) – 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)
CLS Holdings, Inc. (OTCQB:
CLSH) just 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% growth rate, and trading at .85x of sales,
CLSH
may not be at these levels much longer.
In May 2021, the Company also
announced the brand's expansion into New Mexico's medical cannabis
market with its award-winning agave-based tinctures, which
currently hold the #1 position in the tincture category in Nevada.
Production of these products in New Mexico began with partner
company, Herbal Edibles Inc., in May 2021.
The brand anticipates
continued growth in coming months, with multiple new product
releases scheduled for the first fiscal quarter of 2021 and new
licensing agreements expected to materialize later this
year.
"We did a tremendous job of
establishing ourselves with the local community through 2020, and
now that Las Vegas is expecting to see record tourism growth, our
ceiling just keeps getting higher," noted Company President and COO
Andrew Glashow. "We've seen what City Trees and Oasis can do when faced with
immense challenges - now that we're becoming less restricted in our
operations, we'll find out what we can truly accomplish through the
remainder of 2021."
The Company presented its
operational highlights at the Emerging Growth virtual conference on
February 17. The Company plans to continue sharing its ethos within
the industry and explore further relationships to utilize its
extraction facility and capacity for expansion.
The company also
recently
announced that
City Trees, the Company's manufacturing subsidiary is now offering
5 new distillate blends that are available in disposable vape pens,
cartridges, and refill oil applicators.
City Trees has over 70%
market penetration and the brand is poised to continue growing
market share and strengthen its position as Nevada's premier
extract producer with the release of these new products.
This could be the biggest play we see in the cannabis space this
year.
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 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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