CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: 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 August 2020 with net revenues of $1.4M and Gross Margin of 50.41%.
These results represent an increase of 20.76% in net revenue over August 2019, and an increase of 1.73% over the previous highest revenue month in July 2020. The Nevada wholesale manufacturing division of CLS Holdings, City Trees, also unveiled a newly refined brand identity in the first week of September. With renewed excitement around this division, CLS has its eye on continued innovation and collaborative product development.
CLS Nevada August 2020 Financial and Operational Highlights
August 2020 net revenue increased by 20.76% over August 2019, and by 1.73% over July 2020, representing a new company record for the second consecutive month.
CLS' Nevada wholesale manufacturing division finalized all materials for the relaunch of the City Trees brand in September.
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. http://www.clsholdingsinc.com. Twitter: @CLSHusa
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 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