Sales Increased 60% from Prior Year's Results
of Alternative Solutions
LAS VEGAS , April 24, 2019 /CNW/ - CLS Holdings
USA Inc. (CLSH) (CLSH-U.CN), the ''Company'' or ''CLS'', a
diversified cannabis company operating as Cannabis Life Sciences,
today highlighted its financial and operational results for the
4/20 weekend in Las Vegas, NV. The term "420" began as a
counterculture code for consuming cannabis and eventually evolved
into the legal industry's unofficial holiday celebrating the end of
cannabis prohibition. It has historically been the largest single
sales day in the legal cannabis industry.
CLS' Oasis Cannabis Dispensary generated revenues
of $104,454 during the 3-day period, which is an improvement of
59.7% over the revenues of Alternative Solutions, LLC, which was a
privately held company during the comparable 3-day period of the
previous year. Alternative Solutions was acquired by CLS Holdings
USA , Inc. in June 2018 . The Oasis Cannabis Dispensary, located in
Las Vegas, Nevada , recently completed a renovation and grand
reopening, just in time for the 4/20 "holiday." This allowed the
dispensary to accommodate more customers without significantly
impacting wait times. The medical and retail cannabis store in Las
Vegas serviced 924 customers on April 20 th, 2019, a new
record that surpassed even the number of customers on July 1, 2017
, the day legal cannabis sales began in Nevada .
Gross Margin also improved by 25% compared with
the previous year's results for Alternative Solutions, LLC. CLS
attributes this gain to improved purchasing power and the
implementation of strategic supply-chain management. "The company
has been working to solidify supplier relationships and leverage
its purchasing power to provide great value for our customers,
while boosting the bottom line at the same time," said Andrew
Glashow , President and COO
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.
About Oasis Cannabis
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
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.
About City Trees
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 is
one the fastest growing wholesale companies in the industry. Its
products are now available at 44 of the 60 licensed dispensaries in
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 anticipated future events, future
results of operations or future financial performance, and
anticipated growth. 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 and we cannot guaranty that the
proposed transactions described in this press release will occur.
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.
SOURCE CLS Holdings USA Inc
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