CLS
Holdings, (OTCQB: CLSH) Record
January
NET Revenue
of $1.48 Million Beating Target
Miami, FL
-- February 9, 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 that the
results for its Nevada wholly owned subsidiaries for the month of
January 2021 came in with net revenues of $1.48 Million and Gross
Margin of 50.4%. The Company was targeting 50% gross
margin.
CLS Holdings, Inc. (OTCQB: CLSH) by the numbers:
-
NET revenue for
January 2021 was $1.48 million beating January 2020 by
28.5% and January
2019 by 100.4%
-
The dispensary
processed an average of over 700 transactions per day.
-
Revenue for the
six months ending November 30, 2020 came in at
$8,688,758.
-
Revenue for the
quarter ending November 30, 2020 of $4,907,889
represented a
61% increase over the same
quarter in 2019, and a 29.8% increase over the first fiscal Q in
2021.
-
Assets reported
on its most recent quarter came in at $14,399,741.
-
Shares
Outstanding: $126,571,416
CLSH
may not be at these levels much longer.
CLS Holdings, Inc. (OTCQB: CLSH)
anticipates a continued rise in market penetration and growth
throughout the rest of 2021,
and with an array of new products launching in February and growth
of the brand's new toll processing division, Trichome Harvest
Company, CLS Holdings expects to see continued advancements in the
coming months.
With many new operational
developments at City Trees, including the development of a new
division and rollout of new products, and increased sales at Oasis
Cannabis, the Company continued to make strides in expanding its
offerings and achieved its highest January revenue to
date.
President and COO Andrew Glashow
stated "We started turning a corner as a community in the New
Year. We focused on providing accessible pricing and an
increasingly diverse menu of products at both City Trees and Oasis,
and people continued to respond. We leaned into what we're good at
- catering to locals, providing the best service, and providing
some of the best extraction products on the market through our
extraction facility."
The company also
just 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 currently 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
Total Addressable
Market, or TAM, estimate is based on Nevada estimated sales data
provided by BDS Analytics for December 2020. This estimate is based
upon predicted results, is uncertain and involves known and unknown
uncertainties and other factors that may cause actual results to be
materially different from this estimate.
Figure reported as of
January 28, 2021. Additional sales may increase this total for the
remainder of January 2021.
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 speed with which the COVID-19 situation is
developing and the uncertainty of its magnitude, outcome and
duration, 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.
About EmergingGrowth.com
Through its evolution, EmergingGrowth.com found
a niche in identifying companies that can be overlooked by the
markets. We look for strong management, innovation, strategy,
execution, and the overall potential for long- term growth. Aside
from being a trusted resource for the Emerging Growth info-seekers,
we are well known for discovering undervalued companies and
bringing them to the attention of the investment community. Through
our parent Company, we
also have the ability to facilitate road shows to present your
products and services to the most influential investment banks in
the space.
All information
and material
contained herein as well as on the EmergingGrowth.com website
is obtained from sources believed to be reliable
and / or provided to EmergingGrowth.com by a third party,
but not guaranteed to be accurate or all-inclusive. All material
contained within this article, is
for informational purposes only, and
should not be construed as an offer or solicitation to buy or sell
securities. The
information includes certain forward-looking statements, which may
be affected by unforeseen circumstances and / or certain
risks.
This
report is not without bias. EmergingGrowth.com has
motivation by means of either self-marketing or EmergingGrowth.com has
been compensated by or for a company or companies discussed in this
article. EmergingGrowth.com has
been compensated
fifteen
thousand five hundred dollars in consideration for its work with
CLS Holdings USA, Inc. EmergingGrowth.com can
receive future compensation and
has received additional past compensation, details about which can
be found in our full disclosure, which can be found
here,
https://emerginggrowth.com/2574-68272/ You
can easily lose money investing in highly speculative small cap
stocks like the ones mentioned within. Please consult an investment
professional before investing in anything viewed within.
When EmergingGrowth.com is
long shares it will sell those shares. In addition, please make
sure you read and understand the Terms of Use, Privacy Policy and
the Disclosure posted on the EmergingGrowth.com website.
CONTACT:
Company: EmergingGrowth.com
- http://www.EmergingGrowth.com
Contact Email:
info@EmergingGrowth.com
SOURCE:
EmergingGrowth.com
CLS Holdings USA (CSE:CLSH)
Historical Stock Chart
From Nov 2024 to Dec 2024
CLS Holdings USA (CSE:CLSH)
Historical Stock Chart
From Dec 2023 to Dec 2024
