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 (OTCQB:CLSH) announced its operational and financial results for Q3 FY2021, ending February 28, 2021. Total revenue reached $4,544,082, a 40.9% increase year-over-year, contributing to a 44.7% growth in the first nine months. The gross margin stood at 45.2% for the quarter. The retail outlet, Oasis Cannabis Dispensary, experienced a 28.3% revenue increase despite reduced foot traffic due to the pandemic. CLS anticipates strong future growth as tourism in Las Vegas rebounds.
CLS Holdings USA, Inc. (CLSH) reported record financial results for March 2021, achieving over $2M in net revenues, a 92% year-over-year increase. The 48% gross margin also marked an improvement from prior years. Oasis Cannabis, the retail subsidiary, saw net revenue surge by 100.3%, with a 51.2% rise in transactions and a 31.2% increase in average order size. City Trees, the wholesale division, experienced a 70.5% revenue increase. This strong performance is attributed to effective operations amidst ongoing COVID-19 restrictions and rising demand as Nevada tourism recovers.
CLS Holdings USA, Inc. (OTCQB: CLSH) recently featured on the Stock Day Podcast, where President and COO Andrew Glashow discussed the company’s strong performance and product innovations. March marked the wholesale division's highest revenue month, driven by new product launches in February, leading to a backlog of orders. Glashow highlighted the reopening of Las Vegas, which is expected to boost local consumer spending. The company plans to expand its City Trees brand into new states and is building a capable management team to support its growth efforts.
CLS Holdings USA (OTCQB: CLSH) announced amendments to its US$13.5 million unsecured convertible debentures issued in December 2018. Key changes include a conversion price reduction from US$0.80 to US$0.30 per unit and an extension of the maturity date to December 12, 2022. The mandatory conversion VWAP threshold has been lowered from US$1.20 to US$0.60 per share. Additionally, the exercise price for warrants has decreased to US$0.40 from US$1.10. President Andrew Glashow emphasized this restructuring aligns with their growth strategy and strengthens confidence in their business plan.
CLS Holdings USA (CLSH) reported impressive financial results for February 2021, achieving $1.49 million in net revenues and a consistent 50% gross margin. This marks a 29.8% year-over-year revenue increase, reflecting strong performance amid recovering economic activity in Las Vegas. Highlights include the successful product launch by City Trees, with sales of over 11,700 vape units, and a remarkable 46.1% increase in average ticket totals at Oasis Cannabis. CLS anticipates ongoing growth.
CLS Holdings USA (CLSH) announced growth at its North Las Vegas extraction facility, adding 25 SKUs to its wholesale menus. The subsidiary City Trees, with a market penetration over 70% in Nevada, sold 11,378 units of new products by February 17. Additionally, the newly launched Trichome Harvest Company completed toll processing for several multi-state operators, enhancing product quality. These developments position City Trees as a leading innovator in the cannabis industry.
CLS Holdings USA, Inc. (OTCQB: CLSH) announced the addition of Mr. Ross Silver to its Board of Directors, effective immediately. Mr. Silver brings over two decades of experience in finance, having founded Sylva International and previously led Vista Partners as Principal Analyst and CEO. CLS Chairman Jeffrey Binder highlighted Silver's expertise as a valuable asset for the company's growth amid ongoing developments. The announcement follows CLS's record January revenue and a new product range release. The company aims to strengthen its position in the Nevada cannabis market.
CLS Holdings USA (OTCQB:CLSH) will participate in the Emerging Growth virtual conference on February 17, 2021. Company President, Andrew Glashow, is set to deliver a 30-minute presentation at 11:30 AM EST discussing operational advancements. Attendees can view the live presentation and an archived version afterwards. CLS Holdings operates through its subsidiaries, including Oasis Cannabis in Nevada, enhancing its cannabis production and retail capabilities. The company emphasizes quality through its proprietary extraction methods.
CLS Holdings USA (CLSH) reports a record net revenue of $1.48M for January 2021, achieving a gross margin of 50.4%. This marks a 28.5% increase compared to January 2020 and a 100.4% increase from January 2019. Operational advancements include the launch of a new toll processing division, Trichome Harvest Company, and the introduction of new vape products. Oasis Cannabis saw sales rise by 6% over December 2020 and by 28.8% from January 2020, processing an average of 700 transactions daily.
CLS Holdings USA, Inc. (CLSH) announced a collaboration between its City Trees division and State Flower to create a limited-edition concentrate from the popular Wedding Cake strain. Focused on sustainability, both brands emphasize recyclable packaging and Environcann certified cultivation practices. This co-branded product is the first live resin from fresh plant material and signifies City Trees' expansion in its concentrate division, which has seen over 115% growth in unit sales year-over-year through September 2020. The partnership aims to leverage each company's strengths in producing high-quality cannabis extracts.
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