CLS Holdings USA, Inc. (Stock Symbol: CLSH) is a Profitable Agriculture Company from Seed to Sale
CLS Holdings USA, Inc (OTCMKTS:CLSH)
CLSH is a vertically integrated cannabis producer and retailer offering a wide variety of cannabis products through two subsidiaries: Oasis Cannabis and City Trees
– Diversified Producer and Retailer of High Quality Cannabis Products.
– Operating in the Lucrative Nevada Cannabis and Vape Marketplace.
– Strong Movement of New Products & Toll Processing Transactions.
– Record Revenues Booked for January with Product Catalog Growth.
CLS Holdings USA, Inc. (CLSH) is a diversified 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 CLSH business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation, and consulting services.
CLSH operates Oasis Cannabis in the Las Vegas market since cannabis dispensaries first opened in Nevada in 2015 and have 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.
CLSH also owns City Trees a Nevada-based cannabis cultivation, production and distribution company founded in 2017. 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. Additionally, City Trees operates a new division called Trichome Harvest Company which specializes in toll processing for regional and national cannabis brands licensed in the state of Nevada with a variety of transaction types and negotiable terms.
– CLSH Manufacturing Arm Sees Strong Movement of New Products, Continues Toll Processing Transactions
On February 23rd CLSH announced the continued growth of operations at its North Las Vegas extraction facility. Through its branded product subsidiary, City Trees, CLSH has seen significant movement of its new products with the addition of 25 SKUs to its wholesale menus at the end of January. CLSH has also now completed toll processing transactions with several multi-state cannabis producers under its new Trichome Harvest Company division.
CLSH subsidiary City Trees, whose current market penetration in Nevada is over 70%, continued growing its product catalog with 5 additional blends made available to consumers in the first week of February 2021. Prior to this release, the brand produced 9 varieties of distillate, available in cartridges, vape pens, and syringes. Since the addition of these new products to City Trees' wholesale menus this month, the brand has sold 11,378 units of these items into dispensaries across Nevada as of February 17. The addition of these new products has accelerated the growth of the brand and positions City Trees as a leading innovator in the industry.
Alongside these new product releases, City Trees also unveiled its new toll processing division, Trichome Harvest Company, in January. This division has now completed services for several multi-state operators, including the production of ethanol-extracted cannabis distillate and hydrocarbon extracted concentrate products at a higher level of quality and consistency. As City Trees products continue to gain prestige in the marketplace, CLSH anticipates that additional partners will express interest in utilizing its state-of-the-art facility.
– New Board Member, Mr. Ross Silver
On February 18th CLSH announced the addition of a new member to its Board of Directors, Mr. Ross Silver. Mr. Silver brings an extensive background in finance to CLSH. In 2016, Silver founded Sylva International, a Registered Investment Advisor in the state of Oregon. Prior to this, he founded the hedge fund and independent equity research firm, Vista Partners, serving as Principal Analyst and CEO from 2005-2016. Mr. Silver has worked extensively as a research analyst and associate at various firms, hedge funds, and banking institutions over the last two decades, and also served as a Board Member for his local American Red Cross chapter.
– Record January Revenues, Continued Product Catalog Growth
On February 9th CLSH announced the financial and operational results for its Nevada wholly owned subsidiaries for the month of January 2021 with net revenues of $1.48M and Gross Margin of 50.4%. 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.
CLS Nevada January 2021 Financial and Operational Highlights
– On January 26th, the Company announced a new toll processing division of City Trees, Trichome Harvest Company, which will specialize in ethanol and hydrocarbon extraction services for third parties.
– City Trees successfully completed the development of its new range of vape products, made available in February 2021.
– Net revenue increased by 28.5% over January 2020, and by 100.4% over January 2019.
– Gross margin for January 2021 was 50.4%, maintaining the Company's goal of 50% or higher.
CLS Nevada subsidiaries saw a significant year-over-year increase in monthly net revenue in January 2021. Compared to January 2020, net revenue rose by 28.5%, and by 100.4% over January 2019. Gross margin remained ahead of the Company's target of 50%, ending the month at 50.4%. At retail subsidiary, Oasis Cannabis, total sales increased by more than 6% over December 2020, and by 28.8% over January 2020. The dispensary processed an average of 700 transactions daily.
The CLSH branded division, City Trees, developed a new range of products in its cannabis vape line in January, which launched in February. According to BDS Analytics, City Trees held the #5 position in the overall vape category in Nevada in 2020 and produced the #1 selling 1000mg vape cartridge by dollars sold. The brand also held its position as the #1 tincture producer in the state, and the #12 position in the dabbable concentrate category – a category the brand first entered into in the second quarter of 2020. With an array of new products launching in February and the growth of the brand's new toll processing division, Trichome Harvest Company, CLSH expects to see continued advancements in the coming months.
For further information CLS Holdings USA, Inc. (CLSH) visit: https://www.clsholdingsinc.com.
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$CLSH CLS Holdings – Our Lab
Source: EIN Presswire