CLS Holdings USA, Inc (OTCQB: CLSH) (CSE: CLSH) is a cannabis company that operates as Cannabis Life Sciences. It released its 2021 highlights and also its financial and operational successes.
The legal cannabis market saw a decrease in growth in 2021. However, the team has a common goal of contributing to the cannabis industry and fostering change in the cannabis community.
Rolling into the future –
The company announced a joint venture to manufacture pre-rolls. This category represented 11% of overall cannabis sales in Nevada in 2020. It will allow fast production of superior-quality and affordable rolls. The company will also create its line of pre-rolls under the naked City Pre-Roll moniker.
Going to the flower market –
In Northern Nevada, the company announced a joint venture with the Fort McDermitt Paiute and Shopshone Tribe. It will make the company a high-quality, low-cost cultivator of great flowers.
Strength in Numbers –
The branded product division achieved a YOY net revenue increase of 112% and maintained a 50% gross profit margin. The retail division Oasis Cannabis Dispensary saw a 26% increase in revenue compared to 2020.
Small but mighty –
As a local company, they bring superior quality products to their customers. It is why CityTrees continued to dominate the market despite so many big companies competing in the market.
With Hard Work Comes Great Reward –
Leafink awarded City Trees 3 awards. City Trees won two first-place awards at the 2021 High Times Cannabis Cup: People’s Choice Edition. The largest pool of judges in history selected City Trees as the winner in two categories: Sativa Concentrates (awarded to Apricot Crumble Sativa Live Resin Sauce).
What to expect in 2022 –
In 2022, they will have direct control over its expansion into the flower and pre-roll categories while continuing to capitalize on the current successes of City Trees and Oasis. They expect a 50% increase in revenue due to organic growth in 2022.
For more details, visit https://finance.yahoo.com/news/cls-holdings-usa-inc-reviews-110000315.html
About CLS Holdings USA, Inc –
CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that is a cannabis producer and retailer. Learn more at: https://www.clsholdingsinc.com/.
Disclaimer: The products mentioned are THC-free and/or compliant with the 2018 Farm Bill. This article is purely for informational purposes and is not a recommendation in any way to buy or sell stocks.