Positive news
Consolidated Record Gross Margin of 51.67%
LAS VEGAS, NV, Aug. 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CLS Holdings USA, Inc. (OTCQB: CLSH, CSE: CLSH.CN) (“CLS” or the “Company”), a diversified cannabis company operating as Cannabis Life Sciences, is pleased to report unaudited consolidated revenue of $1.07 million for the month of July 2019.
July 2019 Highlights
Consolidated revenue of $1.07 million compared to $0.60 million in July 2018, an increase of 91%.
Revenue from the Company’s Oasis Cannabis dispensary of $659,172, a 78% increase over July 2018 dispensary revenue of $370,319.
A 104% increase in dispensary customers, from 8,173 (250 per day) in July 2018 to 16,674 (550 per day) in July 2019.
Revenue from City Trees, the Company's branded products and bulk flower division, of $446,156, a 113% increase over July 2018 City Trees revenue of $209,443.
July 2019 consolidated gross margin of 51.67%, up from consolidated gross margin of 33.45% in July 2018.
According to Andrew Glashow, President and COO of CLS Holdings, "July was another strong month for Oasis Cannabis and City Trees, continuing what has already been an exciting summer for the Company. These operating successes are the result of an extremely dedicated group of people who make up a great TEAM! Looking forward, August is off to a strong start and we are in the process of planning an exciting Labor Day weekend event as well as launching exciting new product offerings. Construction of our proprietary patented conversion and extraction facility is progressing on schedule; stay tuned as we share images on our new corporate website.”
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.
