Systemwide Revenue Up 85%
LAS VEGAS, NV / ACCESSWIRE / June 5, 2019 / CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH.CN), the ″Company″ or ″CLS″, a diversified cannabis company operating as Cannabis Life Sciences, today highlighted its financial and operational results for the month of May, 2019 with revenue of $1,058,867 USD. Results are compared to those of Alternative Solutions, LLC, the entity CLS acquired in June 2018 that operates Oasis and City Trees.
CLS Holdings’ Oasis dispensary saw record May 2019 revenue of $684,500, an increase of 55% from May 2018 The dispensary serviced a record 16,008 customers in the month, a 70% increase from May 2018 City Trees, the Company’s branded product division, saw a 189% revenue increase to $374,440 from $129,665 in May 2018 Gross margin increased from the 39% gross margin of Alternative Solutions in 2018 to 45% for the Company in 2019 City Trees increased its active customer base from 10 in May 2018 to 46 in May 2019
Oasis Cannabis Dispensary continues to increase foot traffic from 9400 on May of 2018 to 16000 in May of 2019 an increase of more than 6600 customers served or 70%.
Major roadway improvements are now complete along Industrial Road, providing enhanced accessibility and convenience for visitors to the area. The improvements combined with the recently completed renovation and vibrant new signage at Oasis are helping to fuel the continued customer growth.
City Trees continues to gain market share and now services approximately 80% of the Dispensary market in Las Vegas
“May was a great month for CLS. Both Operating divisions experienced growth in revenue and margin expansion. The team continues to execute at a high level and the combined operating divisions experienced another profitable month. The first 5 months of calendar year 2019 have provided