CLS Holdings USA, Inc. Outpaces Statewide Market Growth with Category Leadership – GuruFocus.com

LAS VEGAS, NV / ACCESSWIRE / November 17, 2020 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH), the ”Company” or ”CLS”, a diversified cannabis company operating as Cannabis Life Sciences, continues to grow its foothold in Nevada, with recent data listing its manufacturing division, City Trees, as the top selling brand in select product categories. With the completion of its September rebrand, this division is poised for continued growth and innovation through the remainder of the year. CLS entities overall also outpaced the growth of the Nevada cannabis market in September. Statewide cannabis industry revenue growth reached a year over year increase of 43% for the month, while CLS’ net revenue grew by 70.3%.

A Category and Industry Leader

According to figures generated by BDS Analytics, CLS’ branded division, City Trees, produced the top-selling products in the tincture product subcategory in Nevada from January through September 2020. With a total of 37,142 units sold, these products generated over $1.7 million dollars in sales – approximately 44% more than the second best-selling brand in the subcategory. Of the top 10 products sold in the tincture subcategory in 2020 through September, 4 were produced by City Trees. Of the $7.7 million tincture market in Nevada through September 2020, encompassing 34 different brands, City Trees held an average market share of 22.4%. Although flower and concentrate categories represented a majority of the overall cannabis market in Nevada in 2020, innovative product development and clean, modern branding have propelled this division and opened the door for category expansion for the Company.

As a result of continued development and innovation in the ingestible category, City Trees is rising in Nevada’s vape category. In the first three quarters of 2020, the brand has risen from the 7th to the 5th highest selling brand, with the

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