CLS
Holdings, (OTCQB: CLSH) Explosive
153% Year over Year Growth
Miami, FL -- August 10, 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)
CLS Holdings, Inc. (OTCQB: CLSH) just announced
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% growth rate, and trading at .85x of sales,
CLSH
may not be at these levels much longer.
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
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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