Wall Street Signals: Heating Up: CLS Holdings USA, Inc. Announces June Results, Increased Margins And Endorsement Deal

Heating Up: CLS Holdings USA, Inc. Announces June Results, Increased Margins And Endorsement Deal


CLS Holdings USA, Inc. (OTCQB: CLSH) (CNSX: CLSH.CN), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced the financial and operational results for its Nevada wholly-owned subsidiaries for the month of June 2021 with net revenues of $1.8M and a gross margin of 56.2%. These results represent a 63.1% year-over-year increase in monthly revenue and an 8.9% increase in gross margin.

CLS Nevada June 2021 Financial and Operational Highlights


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The retail subsidiary, Oasis Cannabis, achieved a 48.9% increase in monthly net revenue year-over-year, alongside a 36.8% increase in the number of transactions processed.Branded wholesale division, City Trees, recorded a 110.7% increase in monthly year-over-year net revenue.Combined monthly revenue for both divisions increased by 63.1% over June 2020, and by 88.2% over June 2019.CLS continues to improve gross margin with an 8.9% increase compared to June 2020 and a 16.9% increase compared to June 2019.Despite the extremely competitive market, the company's results have outpaced the state average.The Company announced its limited endorsement of UFC welterweight fighter, Sasha Palatnikov, through its City Trees brand.
"This first month of our monetary year was brimming with staggering freedoms for our organization's development," noted Company President and COO Andrew Glashow. "Desert garden is humming with reliable neighborhood and traveler traffic, and our City Trees brand has kept up with tremendous year-over-year deals expands every month for the last year. We're idealistic that our victories with City Trees and Oasis will empower us to develop our arrangement of brands fundamentally throughout the next few months." 
Retail dispensary Oasis Cannabis accomplished a 48.9% year-over-year expansion in income with a 36.8% increment in the number of exchanges and an 8.8% increment in normal ticket all out. June results additionally addressed an 86.1% expansion in net income analyzed in June 2019. In a people walking through review directed in June 2021, around 80% of Oasis clients were accounted for as neighborhood shoppers, with 20% of traffic being credited to out-of-state travelers. These outcomes show a rough 10% increment in the number of travelers visiting the dispensary when contrasted with June 2020 assessments. The retail customer-facing facade keeps on being a backbone among Las Vegas neighborhood purchasers.
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 have 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
Contact Information:
Corporate:
Chairman and CEO
Jeff Binder
President and COO
Andrew Glashow
888-438-9132
Investor Relations:
investors@clsholdingsinc.com
SOURCE: CLS Holdings USA, Inc.