LAS VEGAS, NV / ACCESSWIRE / July 9, 2019 / CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH.CN), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today highlighted its financial and operational results for the month of June 2019, with revenue of $1,046,242 USD. Results are compared to those of Alternative Solutions, LLC, the entity CLS acquired in June 2018 that operates Oasis and City Trees.
- CLS Holdings' Oasis dispensary saw June revenue of $679,184, an increase of 126% from June 2018
- The dispensary serviced 16,539 customers in the month, an 88% increase from June 2018
- City Trees, the Company's branded product division, had revenues of $367,059, a 214% increase from $117,005 in June 2018
- Gross margin for the Company in June was 49%, up from 39% gross margin of Alternative Solutions in 2018
- City Trees continued to maintain its active customer base
Oasis Cannabis Dispensary continues to see a dramatic and consistent increase in customers serviced. The dispensary serviced 16,539 customers in June of 2019, versus 8,787 in June of 2018.
City Trees continues to gain market share and see demand for its products and is expanding its product line to meet the demands of the marketplace.
"June was another fantastic month for both the Oasis Dispensary and City Trees. We continue to see year over year growth in revenue and gross profit. Traffic at Oasis continues to increase, City Trees continues to grow and we are constantly innovating to add new product lines. Our proprietary conversion and extraction production facility is under construction and remains on track for completion in October.
These operating successes are the result of an outstanding group of people in Las Vegas executing at a high level. I am incredibly appreciative of all their efforts, stated Andrew Glashow, President and COO of CLS Holdings”.
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.
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.
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.
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 and we cannot guaranty that the proposed transactions described in this press release will occur. 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.
Chairman and CEO
Adelaide Capital Markets
SOURCE: CLS Holdings USA, Inc.
View source version on accesswire.com: