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
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 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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