LAS VEGAS, NV, March 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Uptick Newswire Stock Day Podcast welcomed CLS Holdings USA, Inc. (CLSH) (CSE:CLSH.U), (“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 his expectations for the future of the Company in terms of revenue. Glashow explained that the revenues are primarily driven by the Company’s operations in Nevada. This includes a retail location, called Oasis Cannabis, and a wholesale division, City Trees. These two revenue streams have been growing and are expected to continue to increase while the Company also works to improve the gross margins on their products.
Glashow shared that the Company also has the rights to acquire two companies, which, if closed, will help grow revenues substantially. This includes a large dispensary located in Massachusetts with over 230 parking spaces. Glashow explained that this location is expected to eventually function as both a medical and recreational dispensary.
Jolly then asked about the changes that the Company has implemented after acquiring the dispensary in Las Vegas. Glashow noted that one of the most important changes that were made involved the management team of the Company. The Company also made changes to the branding of the store and has increased the number of outdoor signs.
Jolly asked about the penetration of the market in Massachusetts. Glashow stated that Massachusetts, the state in which the Company’s two acquisition targets are located, represents massive potential for the cannabis industry due to its licensing and geography. “Massachusetts is absolutely one of, if not the most compelling markets in the country,” stated Glashow. He added that this target dispensary already has a large and established customer base.
Glashow then explained that the Company’s current focus is to continue to grow its operations in Nevada, while implementing recreational cannabis in the Brockton, Massachusetts location upon the closing of one of its target acquisitions. The Company also plans to develop its first operation facility in Nevada where it can utilize its propriety conversion and extraction method. “We’re really excited to be able to show the world what our cultivation and extraction technology looks like, and why we think it’s a superior alternative to other current methods in the market,” added Glashow.
To close the interview, Glashow shared his excitement for the potential of the Company’s cultivation and extraction method, and explained that the Company expects exponential growth. By 2020, assuming the closing of the Company’s targeted acquisitions in Massachusetts, Glashow expects the Company to generate revenues in excess of 100 million. “We’re executing very well with a team of exceptional people on the ground,” closed Glashow.
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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 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.
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 33 dispensaries.
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, including the timing of anticipated construction and implementation of our expansion plan, and the closing of certain targeted acquisitions. 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.comfor additional details.
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