CLS Holdings Announces September Sales
October 09 2019 - 6:00AM
via NEWMEDIAWIRE -- CLS Holdings USA, Inc. (OTCQB: CLSH, CSE: CLSH)
(“CLS” or the ''Company''), a diversified cannabis company
operating as Cannabis Life Sciences, is pleased to report unaudited
consolidated revenue of $1.0 million for the month of September
2019.
September 2019 Highlights
- Consolidated revenue from Oasis Cannabis and City Trees
of $1.0 million compared to $0.7 million
in September 2018, an increase
of 40.3%. Consolidated gross margin of
49.1% compared to 42.1% in September 2018.
- Revenue from the Company’s Oasis Cannabis dispensary of
$737,692, a 69.0% increase over September 2018 dispensary
revenue of $436,634.
- A 90.8% increase in dispensary customers,
from 10,294 (343 per day)
in September 2018 to a record 19,637 (654 per
day) in September 2019.
- Revenue per SF of $422 compared to $250 per SF in
September 2018, an increase of 69.0%.
- September 2019 dispensary gross margin of 47.9%, up from
39.5% in September 2018.
- Revenue from City Trees, the Company's branded products
and bulk flower division, of $340,529, a 23.2% increase over
September 2018 City Trees revenue of $276,335.
- September 2019 City Trees gross margin of 52.4%, up from
46.2% in September 2018.
According to Andrew Glashow, President and COO of
CLS Holdings, "Our Nevada operations continue to perform
exceptionally well. In September 2019 at our Oasis
Cannabis dispensary, we set record customer volumes and expanded
gross margins compared to a year ago. Our previously
announced dispensary expansion should be completed in mid-November
and will increase available retail space from 1,750 sf to 2,000
sf. Upon completion the dispensary will be able to
accommodate 1000 customers a day and provide our customers with a
better overall customer experience. Our City Trees line of branded
products is accumulating shelf space and is now
available throughout the state.”
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.
http://www.clsholdingsinc.com
Twitter: @CLSHusa
About Oasis Cannabis
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
About City Trees
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 is
one the fastest growing wholesale companies in the industry. Its
products are now available at 44 dispensaries.
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 anticipated future events, future
results of operations or future financial performance, and
anticipated growth, including the timing of anticipated
construction and implementation of our expansion
plan. 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
jeff@clsholdingsinc.com
888-438-9132
Investor Relations:
Torrey Hills Capital
Clay Chase
cc@sdthc.com
858-456-7300
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