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CLS Holdings USA, Inc. focuses on the extraction and conversion of cannabinoids in the United States. The company extracts various cannabinoids from cannabis plants and converts them into concentrates, including oils, waxes, edibles, and shatters. These concentrates find applications in vaporization for electronic cigarettes, pharmaceuticals, and other purposes. Additionally, the company offers consulting services to cannabis-related businesses such as growers, dispensaries, and laboratories. Established in 2014 and headquartered in Miami, Florida, CLS Holdings USA, Inc. operates as Cannabis Life Sciences.
CLS Holdings USA, Inc. is a diversified cannabis company that comprises integrated cannabis producer and retailer segments through its Oasis Dispensary and City Trees subsidiaries operating in Nevada, with plans for expansion into other states. The company, known as CLS, stands for "Cannabis Life Sciences," which reflects its cutting-edge scientific methodology for extracting cannabinoids from the cannabis plant, resulting in products of superior quality and consistency. Its business model encompasses licensing operations, processing operations, processing facilities, product sales, brand development, and consulting services.
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CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH) announces expansion into the New Mexico cannabis market through a strategic Licensing Agreement. City Trees, a leading player in the Nevada cannabis market, will now offer its cannabis vapes in New Mexico. The move aims to meet the growing demand for high-quality cannabis products in the region and leverage a state-of-the-art facility and distribution channel of over 500 dispensaries. The company plans to capture a large market share through aggressive pricing and aims to create new job opportunities in New Mexico.
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CLS Holdings USA, Inc. announces Q1 2024 financial results with net revenue of $5.1 million and a net loss of $464 thousand.
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CLS Holdings USA, Inc. reflects on the past fiscal year and discusses strategies for growth and profitability in the cannabis industry. They acknowledge challenges in a restrictive regulatory environment and highlight the potential impact of legislative changes such as the Safe Banking Act and Nevada's SB277. The company has successfully reduced debt and achieved a 2% increase in revenue compared to the previous year. They have implemented AI solutions, including Pluggi, an AI-powered chatbot, which has increased average basket spend and revenue. The VIP loyalty program has also shown positive effects. Overall, CLS Holdings USA, Inc. demonstrates resilience and a commitment to transparency and innovation.
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CLS Holdings USA, Inc. reports FY2023 financial results with net revenue of $23.1 million and a 16% increase in customers served. Gross profit was $9.8 million, representing a 42% margin. Net loss attributable to CLS was $13.8 million. Adjusted EBITDA was positive $693 thousand, a significant increase of 2,678%. Overall, positive financial performance with growth in revenue and gross profit.
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CLS Holdings USA, Inc. announces their new and improved Oasis Cannabis app, developed by the Springbig platform. The app solves communication issues in the cannabis industry and enhances the customer experience. It includes features such as push notifications, rewards points, online shopping, exclusive offers, and a referral program. The app also improves the dispensary's subscription program, known as the Oasis VIP Club.
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CLS Holdings USA, Inc. announces the enhanced version of Pluggi, an AI-powered Budtender named Bud, to improve the customer shopping experience. Bud provides personalized recommendations and education, resulting in increased sales and customer satisfaction. The introduction of Bud has led to a $35,257 increase in revenue over two months, with an average shopping cart value increase of 28%. Bud also helps customers explore options that suit their needs and provides valuable insights through detailed analytics.
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Oasis Cannabis Dispensary is dedicating the month of August to recognize and appreciate its valued employees. The dispensary, known as the 'locals' dispensary', has been providing affordable and superior cannabis products, a welcoming environment, and quality service since 2016. Three long-standing employees, Portia Davis, Norayr Manukyan, and Raphael Maldonado, are being highlighted for their contributions to Oasis's success. The company will end the Employee Appreciation Month with a staff appreciation party featuring food, giveaways, games, and more.
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CLS Holdings USA, Inc. (OTCQB: CLSH), a diversified cannabis company, is utilizing AI solutions to drive growth. The company has introduced an AI budtender that provides personalized recommendations and answers customer questions, leading to a 40%-60% increase in average ticket sales. They have also implemented AI technology for cultivation, allowing early detection of stress issues in plants. CLS Holdings has stood out in the cannabis industry by focusing on local customers, resulting in consistent business growth. Their customer retention rate is 95%, supported by a successful loyalty program. The company has reduced its debt from $23.5 million to $10 million in the past year and plans to continue reducing it by $200,000 per month, aiming for $7 million by the end of the year and $4 million in the next calendar year.
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FAQ
What is the current stock price of CLS HOLDINGS USA (CLSH)?
The current stock price of CLS HOLDINGS USA (CLSH) is $0.0293 as of January 21, 2025.
What is the market cap of CLS HOLDINGS USA (CLSH)?
The market cap of CLS HOLDINGS USA (CLSH) is approximately 5.8M.
When was CLS Holdings USA, Inc. established?
CLS Holdings USA, Inc. was founded in 2014.
Where is the headquarters of CLS Holdings USA, Inc. located?
The company is based in Miami, Florida.
What does CLS stand for in CLS Holdings USA, Inc.?
CLS stands for "Cannabis Life Sciences."
What are the core business segments of CLS Holdings USA, Inc.?
CLS Holdings USA, Inc. operates as an integrated cannabis producer and retailer through its Oasis Dispensary and City Trees subsidiaries.
What services does CLS Holdings USA, Inc. offer to cannabis-related businesses?
The company provides consulting services to cannabis-related businesses, including growers, dispensaries, and laboratories.
In which states does CLS Holdings USA, Inc. currently operate?
CLS Holdings USA, Inc. operates in Nevada and plans to expand to other states.
What is the primary focus of CLS Holdings USA, Inc.?
The company focuses on the extraction and conversion of cannabinoids from cannabis plants.
What products does CLS Holdings USA, Inc. offer?
CLS Holdings USA, Inc. offers concentrates such as oils, waxes, edibles, and shatters.
What is the significance of the partnership between CLS Holdings USA, Inc. and SOMA?
The partnership aims to introduce a groundbreaking solventless cannabis vape product to the Nevada market.
What recent financial achievements has CLS Holdings USA, Inc. reported?
CLS Holdings USA, Inc. recently retired debt at a discount and repurchased shares, strengthening shareholder value.
CLS HOLDINGS USA INC
OTC:CLSH
CLSH Rankings
CLSH Stock Data
5.81M
33.33M
79.68%
Drug Manufacturers - Specialty & Generic
Healthcare
United States of America
Las Vegas