CLS Holdings USA, Inc. Reports Momentous September Results, Starting Second Fiscal Quarter with Record Revenue – EIN News

Photo: Oasis Cannabis Dispensary. Las Vegas, NV

Photo: City Trees production facility, Las Vegas, NV

CLS Holdings USA, Inc. today announced its financial and operational results for September 2020 with net revenues of $1.7M and Gross Margin of 50.9%

CLS Holdings USA, Inc. (OTCQB:CLSH)

LAS VEGAS, NV, UNITED STATES, October 13, 2020 /EINPresswire.com/ — LAS VEGAS, NV October 13, 2020 — 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 September 2020 with net revenues of $1.7M and Gross Margin of 50.9%. These results represent an increase of 70.3% in net revenue over September 2019, and an increase of 21.2% over the previous highest revenue month in August 2020.

-CLS Nevada September 2020 Financial and Operational Highlights

-September 2020 net revenue increased by 70.3% over September 2019, and by 21.2% over August 2020, the previous highest revenue month for the
Company.
-Gross margin remained steady, with slight growth from 50.4% in August 2020 to 50.9% in September 2020, and an increase of 4% over September 2019.
-CLS’ wholesale manufacturing subsidiary successfully completed its rebrand in September, generating increased interest in the brand with its newly
refined design and focus on sustainability.

-A Third Consecutive Record Month

Increased sales at both CLS Nevada entities contributed to the Company’s third consecutive record monthly net revenue of $1,704,459. This result represents a 70.3% increase over September 2019, and an increase of 139% over September 2018. Traffic at the company’s Nevada retail subsidiary, Oasis Cannabis, substantially increased throughout the month; the total number of transactions processed at Oasis increased by over 3,500 from August 2020 to September 2020, including in-store, curbside, and delivery

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