CLS Holdings USA Inc (CLSH)

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$CLSH CLS Holdings USA, Inc. Reviews Record Breaking and Transformational 2021 and Releases 2022 Outlook
CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, proudly reviews the financial and operational highlights that made 2021 the most successful and transformational year to date, and releases its initial 2022 outlook.

2021 Highlights and 2022 Outlook

Despite the Nevada cannabis market decelerating in 2021, CLS saw net revenues increase 44% year over year

CLS entered into two important joint ventures, which should transform the Company and add substantial revenue at attractive margins

City Trees achieved a 6.5% brand market share, according to BDS Analytics, with leading market share positions across key categories

For calendar year 2022, we are projecting substantial net revenue growth while maintaining current gross margins and increasing EBITDA

Year-in-Review

2021 was a year to remember. We set out to accomplish some lofty goals and shake things up in the cannabis industry. We knew that if we were disciplined and executed on what we could control, we had the potential to achieve our best year ever. While the legal cannabis market in Nevada saw a deceleration of growth in 2021, our small but mighty company strongly grew YOY for the 3rd year in a row. This has everything to do with the teams we have in place on the ground working tirelessly to achieve a common goal, simply put, to be the best version of ourselves. We also entered into several key joint ventures, which we strongly believe will strategically transform the CLS story. The significant benefits of these partnerships will be increasingly visible to our investors and our customers as we progress through 2022. The Company's primary wholesale brand, City Trees, further established itself as one of the leading brands in Nevada, achieving a top market share position across its categories and winning numerous industry awards for product quality and innovation. We take great pride in contributing to the cannabis industry as a whole and fostering change within our community. We would like to thank all of those who have contributed to our successes in 2021.

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