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LAS VEGAS, NV / ACCESSWIRE / April 13, 2021 / CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH), the company, or CLS, a diversified cannabis company operating as Cannabis Life Sciences, today announced financial and operating results for its wholly owned Nevada subsidiaries for the month of March 2021 with net sales in excess of $ 2 M for the first time in company history and a gross margin of 48%. These results represent the highest single monthly sales to date, with significant sales increases in both retail and wholesale. This represents a 92% increase in sales over March 2020 and an 89.4% increase in sales over March 2019. The company achieved this historic increase in net sales while improving gross margin, which was 45% in March 2020 and 37% in March 2020 2019.

CLS Nevada March 2021 Financial and Operational Highlights

  • The retail subsidiary Oasis Cannabis achieved a year-over-year increase in net sales of 100.3%, the number of transactions by 51.2% and the average order size by 31.2%.
  • The branded wholesale division City Trees recorded an increase in net sales of 70.5% compared to the previous year and the highest volume of wholesale orders to date.
  • The number of orders via City Trees increased by 150% compared to March 2020.

The company’s retail and wholesale businesses in Nevada both had their highest-grossing months to date in March 2021. At the company’s pharmacy, Oasis Cannabis, net sales increased more than 100% year over year. While the economic impact of COVID-19 had a more direct impact on the company in March 2020 and contributed to a significant drop in monthly sales, results in March 2021 outperformed the business without this factor. This success was due to a 51.2% increase in the number of transactions processed and a 31.2% increase in the average order size as the new service modes introduced in 2020, including curb and advanced delivery, became more efficient. Construction has also begun on a new express pick-up window in the store, which is expected to be fully operational in April to increase the flow of traffic through the pharmacy. Oasis had both its highest and second highest total day of sales in March, hitting over $ 90,358 and $ 90,215, respectively.

“Vegas is feeling like Vegas again,” said Andrew Glashow, company president and COO. “We are still working under many of the restrictions imposed last year, but our team has become more efficient with these processes, so we can dramatically increase sales despite these restrictions. Given these restrictions, we can see that we can work at this level. ” Not only are we excited to see what we can achieve when we get back to 24/7 service and higher capacity in the store. Our team can be proud of a lot. “

In its promotion for the pharmacy, Oasis has started releasing a range of employee features, including new poster designs, social media highlights, interviews with team members featured on the store’s website, and a series of videos. This campaign, encompassed by Real People’s ‘Real Cannabis’ message, was launched to show real appreciation to the company’s dedicated team members who have survived the past year of challenges. Interested parties can watch this video series by clicking Link here.

At the company’s wholesale division, City Trees, the brand also had its top-selling month, with orders up 150% from March 2020 and orders up 23.2% from February 2021. The brand’s total revenue for March 2021 was $ 502,140. Not included in the brand’s March sales was a backlog of additional orders due for delivery in April, due to the rapidly increasing demand for the brand’s products. Retail sales of these products increased with the introduction of five new product formulations in February. Along with new products in its vape line, City Trees released a new limited edition live resin concentrate, Glow, to mark Earth Hour – an annual event designed to raise awareness of environmental issues on the planet. In total, Oasis Cannabis sold 3,664 units of City Trees live resin concentrate in March, surpassing the pharmacy’s previous record number of live resin concentrate sold in one month by 56.6%. As Las Vegas returns to pre-pandemic tourism and activity levels, the company is confident that its standing among local consumers, with its brands and retail platform, will maintain this high level of performance well into the future.

About CLS Holdings USA, Inc.

CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that is an integrated cannabis producer and distributor through its Oasis Cannabis subsidiaries in Nevada and plans to expand into other states. CLS stands for “Cannabis Life Sciences” and recognizes the company’s patented method by which various cannabinoids are extracted from the marijuana plant and converted into products of higher quality and consistency. The company’s business model includes licensing operations, processing operations, processing equipment, product sales, branding and consulting services. https://www.clsholdingsinc.com/

Twitter: @CLSHoldingsUSA

Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since opening pharmacies in Nevada in 2015 and has been recognized as one of the best marijuana retailers in the state. The location within walking distance of the Las Vegas Strip and downtown Las Vegas combined with the delivery service for residents means it can serve both locals and tourists in the Las Vegas area efficiently. In February 2019 it was named “Best Dispensary for Pot Pros” by Desert Companion Magazine. In August 2017, the company launched wholesale cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. http://oasiscannabis.com

Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production, and distribution company. City Trees products offer a variety of products with consistent results and are available at numerous pharmacies across 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, among other things, to 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 the community during the pandemic, and the impact of our market share and growth expansion initiatives during and after the pandemic, results of operations and financial performance, expected future events and the effectiveness of our business practices during the pandemic. The continued spread of COVID-19 could and in some cases has had a negative impact on our business, operations and financial results, including disruptions to our cultivation and processing activities, supply chains and distribution channels, and retail pharmacy operations, and deterioration in 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 the impact on our business, operations, or financial results. However, the impact can be significant. In some instances, you may identify forward-looking statements by using words such as “may,” “could,” “will,” “will,” “should,” “intend,” “expects,” “expects.” Plans, goals, projects, anticipates, believes, estimates, estimates, predicts, potential or potential. ‘next’ or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve significant known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity or performance to differ materially from future results, levels of activity or performance, or as a result of these forward-looking statements implies. We cannot guarantee future results, activities or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. These cautionary statements should be considered in conjunction with any forward-looking statements, whether written or oral, that we may make in the future. Unless required by law, we do not intend to update the forward-looking statements in order to adapt them to actual results, subsequent events or circumstances, or the occurrence of unexpected events. See CLS Holdings USA’s filings with the SEC and their SEDAR profile at www.sedar.com for more details.

Contact information:

Companies:
Chairman and CEO
Jeff Binder
President and COO
Andrew Glass Show
888-438-9132

Investor Relations:
investoren@clsholdingsinc.com

SOURCE: CLS Holdings USA, Inc.

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