Uptick Newswire Stock Day Podcast Hosts CLS Holdings USA, Inc. to Discuss Their Planned Expansion in Massachusetts and Revenue Projections for 2019
PHOENIX, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Uptick Newswire Stock Day Podcast features CLS Holdings USA, INC (OTCQB: CLSH), a diversified cannabis company operating as Cannabis Life Sciences and an integrated cannabis producer and retailer in Nevada through its Oasis Cannabis subsidiaries. Chairman and CEO, Jeffrey Binder, joined host Everett Jolly to discuss their planned Massachusetts expansion and expected revenue in 2019.
Jolly began the interview by inquiring about a recent rumor that the Company may soon be trading on the CSE. Binder confirmed the rumor stating, “We anticipate that we will be trading sometime in early January.”
Binder then brought listeners up-to-date on their planned Massachusetts expansion, explaining that the 85,000 square foot grow space is progressing well. Currently CannAssist is securing the proper licensing needed, as well as making preparations for the actual construction of their space. Binder elaborated that Massachusetts provides an incredible opportunity for this expansion, as currently only a small amount of space is being used in the state for this type of cultivation.
CLS expects to close on its letter of intent with CannaAssist in early 2019. Binder shared, “CannAssist has a license to build out up to 100,000 square feet of grow, and after offices and other functions, it intends to have about 75,000 to 80,000 square feet of grow. We expect that facility to be operational in the fourth quarter of 2019. The first harvest won’t be till the end of 2019, but we project that it will produce something north of $50 million in gross revenue.”
When asked about the plans for the Company’s IP, Binder informed listeners that the final product is currently in process and is expected to be completed in about 90-120 days as part of their Oasis Cannabis Company owned in Nevada.
Jolly inquired about the Company’s licensing in Nevada. Binder explained that they have a total of four licenses in Nevada through their holding company, Alternative Solutions. These licenses include a grow license, an extraction and conversion license, and a distribution license. Binder also explained that the Company is looking to expand through acquisitions in Nevada, and even noted that their retail location is currently being updated.
Jolly then asked Binder to share his expectations for revenue in the upcoming quarters. Binder stated, “We see revenues increasing greatly throughout 2019 in Nevada.” Binder then shared his enthusiasm that between the build out of CannAssist, in which we plan to acquire a majority interest, the upcoming proposed acquisition of In Good Health, and even the possibility of two additional dispensaries, 2019 should be a breakout year for the company.
Binder added, “With the number of states coming online with regards to both medical and recreational marijuana, we see a change in the landscape and we think it is for the better of the industry as a whole.”
To close the interview, Binder elaborated on the effectiveness of cannabis and its increasing importance to the market. “Cannabis is here to stay. We think it provides the populous of a good alternative to opioids and pain relief. We see it as one of the fastest growing industries in the United States,” stated Binder.
To learn more about CLS Holdings USA, Inc. listen to the full podcast here: https://upticknewswire.com/featured-interview-ceo-jeffrey-binder-of-cls-holdings-usa-inc-otcqb-clsh-4/
About Oasis Cannabis (http://oasiscannabis.com)
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 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 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.
Forward Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. These forward-looking statements include, but are not limited to, statements relating to whether and when certain transactions will be completed, including proposed acquisitions and joint ventures, the Company’s planned growth strategy in Nevada and Massachusetts, and the Company’s proposed use of its IP. 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 guarantee 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 filing with the SEC for additional details.
Chairman and CEO
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Source: CLS Holdings USA, Inc.
Released December 19, 2018