CLS Holdings USA, Inc. Announces An Exclusive Toll Processing and Distribution Agreement with Sauced for Their Live Resin Concentrate Line in Nevada
LAS VEGAS, NV / ACCESSWIRE / October 20, 2021 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced their product subsidiary, City Trees, has signed an exclusive toll processing and distribution agreement with Sauced for their live resin concentrate line in Nevada. After an exhaustive search for a manufacturer in Nevada, Sauced, a leading name in the live resin category, selected the Company as its exclusive partner.
The Company's partnership with Sauced is a testament to City Trees' unmatched state-of the-art facility and ability to produce high quality products. The announcement comes as City Trees launched its toll processing division earlier this year. While City Trees continues to produce a variety of extraction-based products under its own name with unparalleled success, the Company has opened its offerings to cultivators seeking ethanol extraction, hydrocarbon extraction, and product formulation services. With such, the Company has extended their services to best utilize its expanded output capacity and to provide one of the highest quality environments for multi-state operators and well-known brands to produce extracts in the state of Nevada.
"It's exciting to have the opportunity to partner with such a renowned multi-state brand as Sauced", said Director of Laboratory Operations, Dominick Monaco, Pharm. D. "We are honored to have been selected to be their exclusive manufacturer and distributor of their live resin concentrates in the state. Further, we are proud to be able to offer the ability to produce such high quality products in a cutting-edge environment. It is a marker of the Company's continued growth and expansion."
The Sauced agreement signifies the potential for further opportunities to solidify the advancement of the Company's success. The Company anticipates to begin producing Sauced's live resin concentrate by the end of the year.
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. https://www.clsholdingsinc.com/
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 products are available in numerous dispensaries throughout the state of Nevada. https://citytrees.com
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, among other things, the timing of the commencement of manufacturing operations for the joint venture's pre-rolls, the number of products expected to be produced each month and how long It will take the joint venture to achieve expected monthly sales, the acceptance of the joint venture's products by customers, whether other companies will enter Into license agreements to have the joint venture produce pre-rolls for them, and other factors and Issues typically related to and encountered by a new venture. These statements will also be Impacted by the continuing effect of the COVID-19 virus on our business, the results of our initiatives to retain our employees and strengthen our relationships with our customers and community during the pandemic, the effect of our initiatives to expand market share and achieve growth during and following the pandemic, results of operations and financial performance, anticipated future events, and the effectiveness of our business practices during the pandemic. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. Due to the uncertainties associated with the continued spread of COVID-19 and the timing of vaccinations, it is not possible to estimate its impact on our business, operations or financial results; however, the impact could be material. 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. 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
President and COO
SOURCE: CLS Holdings USA, Inc.
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Released October 20, 2021