LAS VEGAS, NV / ACCESSWIRE / May 11, 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 April 2021 with net revenues of $2.16M and a gross margin of 48%. These results represent a 128.5% year-over-year increase in revenue and 4.3% increase in gross margin. Both wholesale and retail divisions achieved record monthly revenue. The Company also finalized its plans to expand its wholesale brand, City Trees, into New Mexico through a collaborative venture with Herbal Edibles Inc.
CLS Nevada April 2021 Financial and Operational Highlights
Retail subsidiary, Oasis Cannabis, achieved a 110.2% increase in net revenue year-over-year, alongside a 131.9% increase in the number of transactions processed. Gross margin for the dispensary was 48.1%. Oasis Cannabis achieved its highest single-day net revenue on 4/20 at $96,791. Branded wholesale division, City Trees, recorded a 188.7% increase in year-over-year net revenue, achieving a second record month in a row, and a 47.8% gross margin. The Company finalized its plans to bring City Trees products to New Mexico through a collaborative partnership with Albuquerque-based Herbal Edibles Inc. This partnership marks the Company’s first market entry outside of Nevada. The Company also plans to bring Herbal Edibles’ gourmet, organic, non-GMO edible products to Nevada later in 2021.
The Company’s Nevada retail and wholesale subsidiaries both achieved their highest revenue month to date in April 2021 for the second month in a row. At the Company’s dispensary, Oasis Cannabis, net revenue increased by more than 110% year over year, driven by a 131.9% increase in the number of transactions processed. The 4/20 cannabis “holiday” also marked the single highest revenue day for