Coming in Hot: CLS Holdings USA, Inc. Branded Division Sees Continued Category Performance Increases in June 2021
LAS VEGAS, NV / ACCESSWIRE / August 10, 2021 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced category performance results for its branded division, City Trees, for the month of June 2021. Compared to overall market data for Nevada, as reported by BDS Analytics, City Trees' concentrate category achieved a 153.2% increase in the number of units sold at the retail level in June 2021 compared to June 2020.
City Trees concentrate products achieved significant retail-level category growth in June 2021
The overall cannabis concentrate category in June 2021 in Nevada represented approximately $18 million in retail sales for the month. Of the 58 brands listed in the category by BDS Analytics for June 2021, City Trees achieved a ranking of the 3rd highest sold brand for the month, with over 25,000 units sold. This category, including both vape and ‘dabbable concentrate' products, represented 23% of the overall retail cannabis market in Nevada for the month of June.
City Trees also continued to hold its standing as the number 1 selling tincture brand in the state of Nevada, with sales of its sublingual products having a 13.2% market share of the category by number of units sold in June 2021. The brand also holds the number 1 position for the entirety of 2021 in this category through June, with 15.9% of all tincture products sold in Nevada being produced at its state-of-the-art North Las Vegas extraction and conversion facility. City Trees has consistently held this position as the best-selling tincture brand in Nevada since 2020. With the anticipated expansion of its production facility capacity, the Company intends to continue innovation in the cannabis categories within which it currently operates, and anticipates the addition of new product categories to its portfolio in coming quarters.
City Trees production of Nevada's best selling tincture products
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 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 August 10, 2021