Provides Additional Growth Capital Led by Navy Capital, a Leading Cannabis Focused Institution
LAS VEGAS, Nov. 06, 2018 (GLOBE NEWSWIRE) — CLS Holdings USA, Inc. (OTCQB: CLSH) “CLS,” a diversified cannabis company operating as Cannabis Life Sciences and an integrated cannabis producer and retailer in Nevada through its Oasis Cannabis subsidiaries, today announced a closing of a $5.9 million investment.
The private placement participation was from several existing shareholders demonstrating their confidence in the Company’s business and strategy. The round was led by existing holder, Navy Capital, a cannabis-focused institutional fund based in New York City.
John Kaden, Managing Partner and Chief Investment Officer of Navy Capital, stated, “We are very pleased with the progress of CLS Holdings since our initial investment several months ago. We believe CLS Holdings possesses opportunity to be a premier vertically integrated cannabis business in Nevada and we are excited about their prospects in Massachusetts. We expect that CLS quickly will establish itself as one of the top companies in the emerging U.S. cannabis market.”
About Navy CapitalNavy Capital’s research-oriented, fundamentally-driven investment process focuses on identifying attractive opportunities within the legal cannabis space. Navy Capital seeks to find the best in class businesses within key verticals of the global cannabis industry. Those verticals include Consumer, Healthcare, Technology, Industrials, and Agriculture. Navy Capital invests in 20-30 publicly traded and select private companies that will gain market share over time in their respective verticals. Businesses that have recurring revenue and management teams that have a large share of their net worth in the company and are deeply passionate about their culture and customers are the most attractive to it.
For additional information, please visit: https://www.navycapital.com
About Oasis Cannabis ( http://oasiscannabis.com )Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in