Onward and Upward LAS VEGAS, NV / ACCESSWIRE / October 19, 2021 / CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced the financial and operational results for its Nevada wholly owned subsidiaries for the month of September 2021 with net revenues of $1.7M and a gross margin of 50%. The Company achieved their goal of 50% gross margin while continuing to see significant growth in the branded wholesale division at City Trees. Year over year, City Trees saw an increase in net revenue of 22% and 66% over 2019.
CLS Nevada September 2021 Financial and Operational Highlights
- The Company met its gross margin goals, achieving 50% for the month of September
- The Company's retail division, Oasis Cannabis continued to exceed their goal of a great than $50 average order size with orders averaging $54 in September
- The Company's branded division, City Trees, continued to gain market share and achieved a 22% increase in year-over-year revenue and a 66% increase from 2019
- City Trees continued to maintain their position as the number one selling tincture brand in the state of Nevada
- BDS Analytics reported August numbers showing City Trees was the number one selling dabbable concentrates by units sold in the state of Nevada
- The Company announced a major joint venture agreement in September. The joint venture plans to create Its own pre-rolls as well as manufacture pre-rolls for other brands under exclusive licensing agreements
- The joint venture anticipates producing 200,000+ pre-rolls per month after a start-up period
"Our branded products division continued to outperform the market and grow '' noted Company President & COO Andrew Glashow. "This wouldn't have been possible without a full team effort from the product creation and innovation coming from our lab to the sales and marketing teams joint efforts in getting our products into the people's hands. "