CLS
Holdings, (OTCQB: CLSH) $17 million
Sales, 60% Growth & 5 New Products
Miami,
FL-- February 2, 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), (CSE: CLSH)
CLS Holdings,
Inc. (OTCQB: CLSH) 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.
CLS Holdings, Inc. (OTCQB: CLSH)
by the numbers:
-
Revenue for the
six months ending November 30, 2020 came in at $8,688,758. If
this was repeated for the next two quarters, the company would
break $17 million in sales.
-
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.
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.
The new vape
products come as the result of months of market research on
in-demand strains and flavor profiles, with each blend serving a
unique segment of consumers, while also allowing for the brand to
develop custom creations. To address market demand for
fruit-forward flavors, City Trees' new Mango Haze blend brings a
unique tropical profile. The brand also sought to add variety with
popular exotic strain blends, including GMO, Cherry Cola, and LV
Confidential - a localized take on the popular strain, LA
Confidential. To best serve the connoisseur market, the brand's
new Gasolina blend brings recognizable
flavors modelled after a variety of classic cannabis
strains.
"Each of these new
products does an incredible job of providing options that our
existing consumers were looking for according to our research, from
of-the-moment strains to custom, flavor-driven experiences" said
Company President and COO Andrew Glashow. "Seeing how successful
our rebrand was in 2020 gave us the ability to refocus efforts on
product innovation, and these new blends are the first of many new
expansions for the brand catalog."
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
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.
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