Welcome to our dedicated page for Cls Holdings Usa news (Ticker: CLSH), a resource for investors and traders seeking the latest updates and insights on Cls Holdings Usa stock.
CLS Holdings USA, Inc. (CLSH), operating as Cannabis Life Sciences, generates frequent news as a diversified cannabis company with integrated production, branding, and retail operations. Company updates often focus on its Oasis Cannabis dispensary in Nevada and its City Trees cultivation, production, and distribution brand, which offers cannabis concentrates and cannabis-infused products in Nevada, New Mexico, and New York.
News about CLS commonly covers operational developments and market expansion. Recent announcements have described the expansion of City Trees into new recreational markets through licensing arrangements, including entries into New Mexico and New York. The company also issues updates on new product lines and partnerships, such as collaborations to launch solventless cannabis vape products and initiatives to refresh and broaden its City Trees offerings.
CLS Holdings also releases corporate and capital structure news. Press releases have detailed debt repayment and restructuring, amendments to convertible debentures and warrants, and share repurchases linked to debt reduction. The company has additionally reported on a reverse stock split (share consolidation) and its application to voluntarily delist from the Canadian Securities Exchange, along with plans to cease being a reporting issuer in Canada.
Another recurring theme in CLS news is sustainability and packaging initiatives, including partnerships aimed at introducing certified plastic-negative packaging for its Nevada-based Oasis Cannabis dispensary. Readers following CLSH news can expect coverage of product launches, licensing-driven geographic expansion, debt and capital updates, regulatory and listing changes, and brand-focused initiatives across Oasis Cannabis and City Trees.
CLS Holdings USA, Inc. (CLSH) has entered into an exclusive toll processing and distribution agreement with Sauced for their live resin concentrate line in Nevada. This move highlights City Trees, a subsidiary of CLS, as a leading manufacturer in the cannabis sector. The partnership signifies a landmark in the company's growth trajectory, allowing them to utilize their advanced facilities and expanded output capacity. Production of Sauced's live resin concentrate is expected to begin by the end of the year, marking a pivotal step for CLS in solidifying its market position.
CLS Holdings USA (OTCQB:CLSH) reported September 2021 revenues of $1.7M with a gross margin of 50%. The company's branded division, City Trees, saw a 22% year-over-year revenue increase and 66% growth from 2019. Oasis Cannabis, their retail division, maintained an average order size of $54. A new joint venture will produce 200,000+ pre-rolls monthly. City Trees remains a market leader in tinctures and dabbable concentrates in Nevada, showcasing strong operational performance amid a competitive landscape.
CLS Holdings USA reported its first profitable quarter in history for Q1 FY2022, ending August 31, 2021. The company achieved a net income of $427,599, a significant turnaround from a net loss of $1,145,036 in Q1 FY2021. Revenue grew by 45.5% year-over-year, while SG&A expenses were reduced from 63.6% to 52.6% of revenue. Oasis Cannabis and City Trees divisions reported net income increases of 21.39% and 152.41%, respectively. The company anticipates continued growth through new joint ventures and innovative product launches.
CLS Holdings USA (OTCQB:CLSH) announced a 50/50 joint venture with RANSON SHEPHERD to manufacture pre-rolls, which represented 11% of Nevada's cannabis sales in 2020. The venture aims to produce over 200,000 pre-rolls per month post-start-up, leveraging the company's 22,500 sq ft manufacturing facility. The average wholesale price of pre-rolls in Nevada is approximately $3 per unit. This collaboration is expected to enhance profitability and create jobs within the community, positioning CLS as a competitive player in the cannabis market.
CLS Holdings USA (OTCQB:CLSH) reported strong financial results for August 2021, achieving net revenues of $1.8M and a gross margin of 51.9%. This marks a 24.8% increase year-over-year and a 50.7% rise compared to August 2019. The retail outlet, Oasis Cannabis, was operational for 29 days due to staff appreciation activities. A 4.95% increase in transaction volume and a 90.9% revenue growth for its branded division, City Trees, were also noted. The company continues to expand its workforce, reflecting its ongoing growth.
CLS Holdings USA, Inc. (CLSH) reported record financial results for the fiscal year ended May 31, 2021, achieving total revenues of $19,292,087, a 61.9% increase from FY 2020. The fourth quarter revenues reached $6,264,960, marking a 107.9% increase year-over-year. Gross margins improved to 50% for both FY 2021 and FY 2020. The net loss decreased significantly to $15,890,514 from $30,657,973 in the prior year. Adjusted EBITDA improved to ($123,617), up from ($1,732,557).
CLS Holdings USA (OTCQB:CLSH) announced strong financial results for July 2021, with net revenues of $1.9 million and a gross margin of 50.4%. This marks a 40.9% year-over-year increase in revenue and a 104.1% increase compared to July 2019. Key highlights include an 18.8% increase in transactions at Oasis Cannabis and a 160.9% rise in revenue for the City Trees brand. The company successfully adapted to COVID-19 restrictions, ensuring uninterrupted operations.
CLS Holdings USA, Inc. (CLSH) reported strong performance for its brand City Trees in June 2021, achieving a 153.2% increase in concentrate units sold year-over-year. City Trees ranked as the 3rd highest sold brand in Nevada's concentrate market, contributing to approximately $18 million in total retail sales. Additionally, it maintained its status as the number 1 tincture brand in Nevada, capturing 13.2% of the tincture market share. The company aims to expand its production capacity and product range in upcoming quarters.
CLS Holdings USA, Inc. (CLSH) reported robust financial results for June 2021, with net revenues of $1.8M and a gross margin of 56.2%, marking a 63.1% year-over-year increase in revenue and an 8.9% rise in gross margin. The retail subsidiary, Oasis Cannabis, achieved a 48.9% revenue increase, while the wholesale division, City Trees, saw a remarkable 110.7% revenue surge. CLS's growth has outpaced the state average despite stiff competition, and they announced an endorsement with UFC fighter Sasha Palatnikov.
CLS Holdings USA (OTCQB:CLSH) reported robust financial results for May 2021, achieving $1.9M in net revenues, an 87.7% increase year-over-year. The gross margin stood at 53.6%, reflecting an 8.7% rise compared to last year. Oasis Cannabis, its retail subsidiary, saw a 59.41% jump in revenue, while the City Trees division experienced a 231.6% revenue surge. Operations expanded into New Mexico, enhancing production capabilities. The company anticipates continued growth amid rising tourism in Las Vegas.