Outperforming The Market: CLS Holdings USA, Inc. Reports Its Second Quarter Results with Latest 10Q – Yahoo Finance

LAS VEGAS, NV / ACCESSWIRE / January 13, 2022 / CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH), the ”Company” or ”CLS”, a diversified cannabis company operating as Cannabis Life Sciences, today announced its operational and financial results for the second quarter of fiscal 2022, ended November 30, 2021.

Key Q2 Financial & Operational Accomplishments

The Company saw meaningful revenue growth for the quarter ended November 30, 2021 with an increase in revenue of 10% compared to the quarter ending November 30, 2020

Revenue growth at City Trees proved to be significant with an increase of 55% compared to last year’s Q2 numbers

City Trees continued to show positive momentum with a 4% increase in revenue quarter over quarter for fiscal ’22

CLS was able to achieve its goal of a gross profit margin of 50% or greater for the quarter

Oasis Cannabis, CLS’ retail division, continued to see an average spend per customer of greater than $55, remaining consistent with the prior year’s quarter

City Trees, the Company’s branded product division, saw a number of successes this quarter:

Recorded a continued increase in monthly year-over-year net revenue for the quarter

Awarded top-performing brand of Nevada, November 2021 by Leafink, which considers data and analytics across a multitude categories, states, and markets

Recognized as winner for fastest growing THC Distillate and top-selling THC Distillate in Leaflink List, 2021 in the concentrate category

Milestone reached for selling over $1 million of one gram cartridges for the quarter

Continued as the number one selling tincture brand in the state of Nevada according to BDS Analytics

Number one brand for the entire concentrate category in units sold in the state of Nevada during the quarter, selling over 125,000 units, according to BDS Analytics

Number one brand for the dabbable concentrate category in both dollars and units sold in the state of Nevada during the quarter, according to BDS Analytics

“Despite a

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