Welcome to our dedicated page for CLS HOLDINGS USA news (Ticker: CLSH), a resource for investors and traders seeking the latest updates and insights on CLS HOLDINGS USA stock.
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.
CLS Holdings USA, Inc. (CSE:CLSH) has engaged Renmark Financial Communications Inc. for investor relations services, effective June 1, 2021, for three months. Monthly fees will amount to $8,000 CAD. The partnership aims to boost CLS Holdings' profile within the financial community. Renmark has no financial interest in CLS Holdings or its securities. The firm operates through Oasis Cannabis subsidiaries in Nevada, focusing on a patented extraction method for cannabinoid products.
CLS Holdings USA, Inc. (CLSH) reported strong growth metrics for its manufacturing division, City Trees, with a 48.25% increase in retail sales for vape products and a staggering 895% growth in dabbable concentrates year-over-year in Q1 2021. City Trees remains a top player in Nevada, ranking #7 in vape sales and #10 in live resin concentrates. Production capacity has expanded from 18,000 to 30,000 grams of THC distillate monthly due to rising demand, leading to record-breaking revenue in March and April 2021. The company expects continued growth in output to meet this demand.
CLS Holdings USA (OTCQB:CLSH), a diversified cannabis company, announced its approval for trading on the WealthSimple investment platform. This trading opportunity, available on the Canadian Securities Exchange, reflects the growing interest in cannabis stocks despite regulatory challenges. CLS operates through its Oasis Cannabis subsidiaries in Nevada, known for its high-quality cannabis products and retail presence. The company aims for further expansion, enhancing investor accessibility in the evolving cannabis market.
CLS Holdings USA (OTCQB:CLSH) announced impressive financial results for April 2021, achieving net revenues of $2.16 million and a 48% gross margin. This represents a significant 128.5% year-over-year revenue increase. Both the wholesale and retail divisions saw record monthly revenues, with Oasis Cannabis reporting a 110.2% revenue increase. The wholesale brand, City Trees, experienced a 188.7% revenue growth, and plans to expand into New Mexico were finalized through a partnership with Herbal Edibles Inc.
CLS Holdings USA (OTCQB:CLSH) will present at the 2021 Canaccord Genuity Virtual Cannabis Conference on May 11, 2021, at 3:30 PM EST. The company has reported strong growth in 2021, with new product releases and record sales across subsidiaries. Recent agreements to expand into New Mexico further highlight their growth trajectory. Andrew Glashow, President/COO, expressed excitement about the company's future during the presentation. CLS operates through its Oasis Cannabis brand in Nevada and plans to expand to other states.
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.
CLS Holdings USA, Inc. (OTCQB:CLSH) has announced a collaborative venture with Herbal Edibles Inc. to produce and distribute each other’s branded cannabis products in Nevada and New Mexico. This partnership marks CLS's first expansion of the City Trees brand outside Nevada after achieving record sales in March 2021. With Herbal Edibles holding 45% market penetration in New Mexico, CLS aims to introduce its award-winning tinctures there in May 2021, while Herbal Edibles plans to launch its products in Nevada in July 2021, pending regulations.
CLS Holdings USA (OTCQB:CLSH) reported a record-breaking sales day on April 20, 2021, generating $96,791 in net revenue through its Oasis Cannabis Dispensary in Las Vegas. The dispensary managed 1,121 transactions at an average ticket of $80.31, achieving a gross margin of 51.9%. This performance was attributed to a successful promotional event, including live DJs and hourly giveaways. The company aims to expand its retail operations, recognizing the ongoing challenges posed by the COVID-19 pandemic, which could impact future business growth.
CLS Holdings USA (OTCQB:CLSH) has amended terms for $6,229,672 in outstanding unsecured convertible debentures. Key changes include reducing the conversion price from $0.80 to $0.30 per unit and extending the maturity date by one year. The company will also file a registration statement for the resale of common stock shares upon conversion. Additionally, Navy Capital Green Fund can appoint a board observer based on share ownership criteria. CLS operates in the cannabis sector, focusing on production and retail through its Oasis Cannabis subsidiaries.
CLS Holdings USA (OTCQB:CLSH), a diversified cannabis company, has announced a collaboration with Nature's Chemistry to produce a co-branded line of cured and live resin concentrate products. Starting in April 2021, the initial release will include 5,000 units made from high-quality cannabis. Both companies will share net revenues equally, enhancing market presence and sales. Previous success with the brand 'City Trees' and its collaboration with State Flower in 2020 highlights their commitment to quality and innovation in the cannabis market.
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