LAS VEGAS, NV / ACCESSWIRE / November 16, 2021 / 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 October 2021 with net revenues of $1.9M and a gross margin of 46%. The Company achieved meaningful net revenue growth with an increase of 8% year over year and 87% over 2019. The wholesale division at City Trees continued their steady rise with net revenue growth of 34% year over year and 140% over 2019.
CLS Nevada October 2021 Financial and Operational Highlights
The Company’s retail division, Oasis Cannabis continued to exceed their goal of a greater than $50 average order size with orders averaging $57 in OctoberThe Company’s branded division, City Trees, continued to outperform the market and achieved a 34% increase in year-over-year revenue and a 140% increase from 2019City Trees continued to maintain their position as the number one selling tincture brand in the state of NevadaBDS Analytics reported September numbers showing City Trees was the number two selling concentrate brand for the entire category by units sold in the state of NevadaBDS Analytics reported September numbers showing City Trees was the number one brand for dabbable concentrates in both units and dollars sold in the state of Nevada
“When I see our brand at the top of BDS analytics I am thrilled,” noted Company President & COO Andrew Glashow. “As a truly original local brand we are competing against much larger multi-state operators as the Nevada market continues to grow. What we have been able to accomplish is a testament to our team and our product. I would put us up against any other cannabis brand in the world.”
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