CLS Holdings USA, Inc. Discusses Expansion into New Mexico and Other Jurisdictions with The Stock Day Podcast
CLS Holdings USA, Inc. (OTCQB:CLSH) announced its expansion into New Mexico with the City Trees brand, leveraging the state's new recreational cannabis bill. President Andrew Glashow highlighted their strong growth in Nevada and plans for further expansion with two additional states under consideration. The company reported significant growth, with City Trees products experiencing a 2x to 2.5x increase in sales. Glashow expressed optimism about Nevada tourism and noted a strong performance in April, stating results would be disclosed soon.
- Expansion into New Mexico aligns with new recreational cannabis legislation.
- Strong growth of 2x to 2.5x year-over-year in City Trees products.
- Plans for further expansion into two more states.
- Focus on local business, representing 85-95% of revenue.
- Recognition as the number one selling tincture in Nevada.
- Dependence on Nevada tourism recovery to boost future revenues.
- Uncertainty over the impact of COVID-19 on business operations.
LAS VEGAS, NV / ACCESSWIRE / May 5, 2021 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, was featured on The Stock Day Podcast this week. President and COO of the Company, Andrew Glashow, joined Stock Day host Everett Jolly.
Jolly began the interview by commenting on a recent release detailing the Company's expansion outside of Nevada. "We are now in New Mexico with our City Trees brand. We will be rolling that out this week, which provides us with a really interesting market opportunity," shared Glashow. "New Mexico just enacted a recreational cannabis bill," he added. "We hope to be a major brand [in] the marketplace; we already have penetration through our partnership with Herbal Edibles."
When asked if there are any other states the Company is eyeing for the future, Glashow noted, "Currently, we are in discussions with two other jurisdictions, one on the East Coast and the other one is a little bit closer to Nevada," explained Glashow.
"We're comfortable operating a dispensary in a highly competitive market. We have also taken our City Trees brand and relaunched it about six months ago, and the traction that we're getting is really phenomenal in the state of Nevada. So, we want to bring those same practices, principles, and SOPs to other jurisdictions," said Glashow. "We are the number one selling tincture in the state of Nevada, and we think we can be a force in whatever market that we go to."
Jolly then asked about the return of Nevada tourism and its effect on revenues. "We've been focused on the local business. We try to focus on locals as it represents about
When asked about April results for the Company, Glashow noted that results for the month would likely come by early next week. "I can only say that it was a really terrific month for us on a number of fronts," Glashow stated. "We had a very strong month of April across all categories."
To close the interview, Glashow shared that the Company continues to execute at a high level. "We think that our best days are in front of us and we could not be more excited for our relationship with the wonderful people of New Mexico," said Glashow, before elaborating on the Company's expansion outside of Nevada. "We could not be more excited about CLS today."
To hear Andrew Glashow's entire interview, follow the link to the podcast here.
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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
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
About The "Stock Day" Podcast
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SOURCE: CLS Holdings USA, Inc.
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FAQ
What recent developments has CLS Holdings USA announced?
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