PHOENIX, AZ / ACCESSWIRE / April 17, 2019
/ Uptick Newswire Stock Day Podcast welcomed CLS Holdings
USA, Inc. (CLSH) ("the Company"), 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. President and COO,
Andrew Glashow, joined Stock Day host, Everett Jolly.
To begin the interview, Jolly asked Glashow to
provide further insight on the Company's revenue growth since 2018.
Glashow explained that the Company's operating divisions, City
Trees and Oasis Cannabis, have seen revenue increases of 25% for
the quarter ended February 28, 2019, compared to the same quarter
of 2018. In addition, their gross margin has experienced an
increase of 56% compared to the same quarter of 2018. With this
growth, the Company also increased its overall cash flow.
Jolly then asked how the Company has achieved
such steady growth. "People, process, and purchasing", shared
Glashow. He expanded by stating that the Company has a great
operating team in place that is following an effective process.
"We're really proud of the results we're seeing", stated
Glashow shared that the Company produced $2.4
million in revenue and 39% gross margins during the quarter ended
2/28/19, versus the quarter ended 2/28/18 which saw revenue of $1.9
million and Gross margins of 29%.
Glashow then explained that the Company has been
implementing a few key changes in terms of their process, including
the addition of a new sign package for their Las Vegas dispensary
and a completely new remodel of the interior. These changes have
already led to increased daily customer count and revenue.
Glashow also gave listeners an update on City
Trees, the Company's wholesale division. Over the past year, this
segment of the Company has grown to service 70% of all of the
dispensaries in Nevada along with substantial revenue growth.
Jolly asked about the Company's Massachusetts
expansion, which includes a cultivation opportunity and a medical
dispensary. Glashow shared that the Company expects to close on the
CannAssist cultivation opportunity in June, meanwhile, the medical
dispensary is due to close in November of 2019. The Company has
also invested substantial funds into the medical dispensary, In
Good Health Inc., which has allowed for its expansion and improved
development. Both sites represent exponential revenue potential,
especially given their location in Massachusetts. Glashow adds that
currently, the Company expects revenues from these projects to be
reflected in November of 2019.
Glashow then explained that the Company has been
able to raise $18 million in the last quarter, which has allowed
them to remain in a positive position for expansion and the
necessary investments needed to improve their assets. "We're in a
pretty good position from a balance sheet perspective", stated
To close the interview, Glashow shared his
excitement for the Company's current strategy, which includes an
efficient growth plan and the improvement of their current
operations. He also shared that the Company's current buildout of
their North Las Vegas cultivation center, which specializes in
their proprietary conversion and extraction methodology is a
perfect example of their strategic process.
To hear Andrew Glashow's entire interview, follow
the link to the podcast here: https://upticknewswire.com/featured-interview-coo-andrew-glashow-of-cls-holdings-usa-inc-otcqb-clsh-2/.
Investors Hangout is a
proud sponsor of "Stock Day", and Uptick Newswire encourages
listeners to visit the company's message board at https://investorshangout.com/.
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 of the fastest growing wholesale companies in the
industry. Its products are now available at 33 dispensaries.
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, including the timing of anticipated
construction and implementation of our expansion plan. These
forward-looking statements include, but are not limited to,
statements relating to whether and when certain transactions will
be completed, including the proposed In Good Health acquisition and
the CannAssist joint venture. 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, including, but not limited to, the risk that the
conditions precedent contained in the agreements for the
acquisition of In Good Health and CannAssist are not satisfied. 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.
Chairman and CEO
Adelaide Capital Markets
About Uptick Newswire and the "Stock Day"
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SOURCE: Uptick Newswire
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