LAS VEGAS, NV / ACCESSWIRE / September 10, 2020 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH.CN), 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 August 2020 with net revenues of $1.4M and Gross Margin of 50.41%. These results represent an increase of 20.76% in net revenue over August 2019, and an increase of 1.73% over the previous highest revenue month in July 2020. The Nevada wholesale manufacturing division of CLS Holdings, City Trees, also unveiled a newly refined brand identity in the first week of September. With renewed excitement around this division, CLS has its eye on continued innovation and collaborative product development.
CLS Nevada August 2020 Financial and Operational Highlights
Back-to-Back Record Revenue Months
For the second month in a row, CLS’ Nevada subsidiaries have set a new company record, recording a gross margin of 50.41% and $1,405,800.71 in net revenue in August 2020 – a revenue increase of 1.73% over July 2020 and 20.76% over August 2019. Sustainable growth at retail subsidiary Oasis Cannabis and improved COVID-19 performance at wholesale manufacturing division, City Trees, have been driven by continued efforts to provide a clean, comfortable retail experience and to produce safe, consistent products. According to recently reported figures from BDS Analytics, a leading data provider for the cannabis industry, July 2020 cannabis sales in Nevada have reached a total of $82 million