CLS Holdings USA, Inc. 2020 Year in Review – GuruFocus.com

LAS VEGAS, NV / ACCESSWIRE / December 29, 2020 / CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH):

Adaptation

2020 has been a year that most of us will never forget. One wherein all of our choices mattered deeply, and had serious implications for those around us. We are incredibly proud of the progress the cannabis community has made over the last few years. In times of uncertainty and hardship, this industry has proven its place as an essential service and we’re honored to do our part.

At CLS, we believe that all challenges are opportunities. We look back at March, when we had to pivot our retail division, Oasis Cannabis, to a delivery and curbside pick-up model. Our dedicated team made this transition swiftly and efficiently, with new business plans approved within 24 hours of the announcement of closures, and a return to operations within 48 hours. In the midst of these closures, we also completed the renovation and expansion of our extraction facility at City Trees.

This year, we achieved month after month of consistent record-setting revenue, driven by a 23.6% annual increase in the number of transactions processed at Oasis. At the same time, the average order amount increased by 26%. While we appreciate these achievements, our biggest accomplishment has been putting people before profits. We have been fortunate to be able to offer free testing for every CLS employee, whenever they need it. We took extra precautions, beyond what was dictated by the state, to make sure our guests felt comfortable and safe in our space. Beyond these immediate changes, we looked toward the long term challenges of our community and set aside 1% of net sales at Oasis during the summer to benefit those most harmed by the War on Drugs. Our employees are proud

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