LAS VEGAS, Jan. 7, 2019 /CNW/ - CLS Holdings USA, Inc. "CLS," a diversified cannabis company operating as Cannabis Life Sciences, is pleased to provide a corporate update to highlight its achievements and ongoing activities.
The common shares of CLS will commence trading on the Canadian Securities Exchange, or CSE, at the opening of the market on January 7, 2019 under the ticker symbol "CLSH".
Cannabis Life Sciences is the developer of a patented extraction and conversion methodology that has potential to increase both yield and quality of cannabinoid oils extracted from cannabis plants. CLS recently expanded its business strategy to include cultivation, production, and retail dispensaries, through the acquisition of Oasis Cannabis, a Las Vegas based vertically integrated cannabis company.
Jeffrey Binder, Chairman and CEO of CLS, stated: "This is an exciting day for CLS as it opens up an entirely new base of knowledgeable cannabis investors. The company has worked hard to achieve this listing and we are appreciative of the opportunity to have our company listed on such a terrific platform."
CLS has curated a strong position in the cannabis industry by becoming a revenue producing company and achieving many milestones which have increased shareholder value, including:
- completion of the purchase of the Oasis Cannabis Dispensary in Las Vegas
- successful completion of multiple capital infusions
- rapid growth of City Trees brand
- commenced build out of proprietary conversion and extraction facility
- obtained a final receipt from the Ontario Securities Commission for a long-form prospectus, a copy of which is available on the company's SEDAR profile at www.sedar.com
- entered into two letters of intent in Massachusetts
- obtained patents for extraction IP in the US, EU and Canada
- ended the year with USD $15 million cash in treasury
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.
For additional information, please visit: http://www.clsholdingsinc.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 forward-looking 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 the date of listing on the CSE. 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 guaranty that the proposed transactions or the CSE listing 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 filings with the SEC and on its SEDAR profile at www.sedar.com for additional details.
SOURCE CLS Holdings USA, Inc.