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