Allá Vamos: CLS Holdings USA, Inc. Announces Collaborative Venture with New Mexico-Based Herbal Edibles Inc.
LAS VEGAS, NV / ACCESSWIRE / May 3, 2021 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced a collaborative venture with New Mexico-based cannabis company, Herbal Edibles Inc. The parties will produce each other's branded products and distribute them in Nevada and New Mexico. This venture is the Company's first rollout of its branded products outside of Nevada, made possible by the resounding success of the City Trees brand since its relaunch in September 2020. The announcement also comes after the brand achieved its highest revenue month to date in March 2021.
As of April 2021, Herbal Edibles branded products had achieved approximately 45% market penetration in New Mexico. CLS anticipates growing this market penetration with the introduction of its City Trees products, which is expected to increase sales, and by providing additional marketing resources to the brand along with the infrastructure required to produce its highly sought-after products at the same level of quality and consistency. The Company's branded division, City Trees, will introduce its award-winning tincture products in New Mexico in May 2021, including its Blue Agave tincture - the #1 selling tincture product in Nevada. Herbal Edibles, in return, will share recipes for select items in its line of organic, non-GMO edible products, which will be produced by the Company and introduced in Nevada in July 2021, pending regulatory approval of all new products and packaging. The introduction of Herbal Edibles products in Nevada, powered by City Trees' high standards of quality control and consistency, is also expected to increase City Trees' Nevada sales by adding a new category of products for the Company's representatives to offer retail partners.
"We're beyond thrilled that New Mexico has joined the ever-expanding list of states that allow for adult-use cannabis," noted Company President and COO Andrew Glashow. "The market there has a growing demand for high quality products that meet the standard that we've set with City Trees, and we're excited to bring the Herbal Edibles team into the CLS family. At the same time, we can't wait to show Nevada the truly gourmet products that their team is cooking up in New Mexico."
Ben Barreras, Chief of Operations at Herbal Edibles Inc., said that "After a decade of creating the highest quality edible products in the New Mexico Medical Cannabis Program, Herbal Edibles is eagerly anticipating our launch in Nevada with CLS Holdings. City Trees' commitment to brand quality is synonymous with our vision of infused edible excellence. Their superior tinctures are a natural fit with our line of distinctive cannabis products and will certainly fill the gap in the tincture market here in New Mexico. We plan to bring our award winning, non-GMO, all organic Lemon-Aid Square, our best seller and most beloved edible to Nevada this summer. Subsequently we will be adding additional delicacies from our lineup in the coming months. We are absolutely thrilled to be a part of this amazing group of cannabis professionals at CLS Holdings."
The rollout of City Trees tinctures in New Mexico next month marks the Company's first introduction of its products outside of Nevada. As the brand continues to expand its catalog and demand for its high quality products continues to increase, additional products may follow. The venture with Herbal Edibles Inc. follows the Company's strategy of early entry into emerging markets, a highly selective partnership program, and election to work collaboratively with small, community-driven businesses.
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
Established in 2011 as the original, third-party manufacturer in the New Mexico Cannabis Program, Herbal Edibles has always had its sights firmly set on making the very best medicines possible from scratch. A full-service post-harvesting processing company, Herbal Edibles does it all - with completely organic, GMO-free ingredients, no less. Medicines range from hash oils, organic NON-GMObaked goods, topicals and artisan chocolates to specially formulated blends to supplement cancer treatments and their ever-popular "Chill Pills." Starting as a two-person family operation, Herbal Edibles has grown tremendously, now boasting an expert team of world-class bakers, artisanal chocolatiers, chemists, herbalists and a privately-owned 4000 square foot manufacturing facility.
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 impact 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 May 3, 2021