CLS Holdings' City Trees Products Maintain #1 Concentrate Brand Ranking in Nevada

Rhea-AI Summary

CLS Holdings USA, Inc. (OTCQB:CLSH) announced that its product division, City Trees, ranked as the number one concentrate brand by units sold in Nevada for January to August 2022, with over 452,000 units sold, generating approximately $10.9 million in sales, according to BDS Analytics. City Trees offers a variety of products and is available in over 78 dispensaries across Nevada. CEO Andrew Glashow highlighted continued customer loyalty amid macroeconomic challenges and emphasized their recent successful harvest through a joint venture with local tribes.

Positive

• City Trees ranked number one in Nevada for concentrate sales, indicating strong market presence.
• Sold over 452,000 units, achieving approximately $10.9 million in sales in 2022.
• Company's unique product quality and pricing strategy attracted both new and repeat customers.
• Completed first harvest through a joint venture, enhancing product availability.

Negative

• None.

LAS VEGAS, NV / ACCESSWIRE / October 25, 2022 / CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH), (the ''Company'' or ''CLS''), a diversified cannabis company operating as Cannabis Life Sciences, today announced that the Company's branded product division, City Trees, was ranked as the number one concentrate brand by units sold in Nevada. From January to August 2022, City Trees sold over 452K units of vapes and dabbable concentrates, representing approximately $10.9 million in sales, according to BDS Analytics.

City Trees products include disposable vapes, cartridges, dab-oil syringes, tinctures, and various live and cured resin concentrates. The brand can be found across more than 78 dispensaries in Nevada, as well as in the Company's own retail dispensary, Oasis Cannabis. Oasis Cannabis is home to the largest selection of City Trees products in Nevada, with nearly 100 of its products consistently stocked.

"Despite the macroeconomic challenges that have impacted many of our peers, we continue to draw both new and repeat customers to our brands by offering the unique combination of unbeatable quality and attractive pricing," said Andrew Glashow, President and Chief Executive Officer of CLS. "We recently completed our first harvest through our joint venture with the Fort McDermitt Paiute and the Shoshone Tribe in Northern Nevada and are working to dramatically improve availability of our products across the Nevada wholesale market. I'm thrilled to see that our products, produced using our proprietary ethanol extraction system and our team's formulation expertise, are continuing to resonate with consumers."

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, Oasis 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 that offers a wide variety of products with consistent results. City Trees products are available in numerous dispensaries throughout the state of Nevada. https://citytrees.com

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, the expected development of our business and joint ventures, results of operations and financial performance, future liquidity, working capital and capital requirements, the effects of the additional dilution in our common stock that may occur as a result of the amendments to our convertible debentures, and anticipated future events. 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. 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:
President and CEO
Andrew Glashow
888-438-9132

Investor Relations:
Rob Kelly
416-992-4539
rob@mattio.com
investors@clsholdingsinc.com

SOURCE: CLS Holdings USA, Inc.

View source version on accesswire.com:
https://www.accesswire.com/722020/CLS-Holdings-City-Trees-Products-Maintain-1-Concentrate-Brand-Ranking-in-Nevada

FAQ

What sales figures did CLS Holdings announce for City Trees in Nevada?

City Trees sold over 452,000 units, generating approximately $10.9 million in sales from January to August 2022.

How many dispensaries in Nevada carry City Trees products?

City Trees products are available in over 78 dispensaries across Nevada.

What challenges is CLS Holdings facing in the cannabis market?

Despite macroeconomic challenges impacting the industry, CLS Holdings continues to attract customers.

What recent achievement did CLS Holdings accomplish through its joint venture?

CLS Holdings completed its first harvest through a joint venture with the Fort McDermitt Paiute and Shoshone Tribe.