$CLSH Heating Up: CLS Holdings USA, Inc. Announces
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Posted On: 07/15/2021 9:20:07 AM
$CLSH Heating Up: CLS Holdings USA, Inc. Announces June Results, Increased Margins and Endorsement Deal
LAS VEGAS, NV / ACCESSWIRE / July 13, 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 June 2021 with net revenues of $1.8M and a gross margin of 56.2%. These results represent a 63.1% year-over-year increase in monthly revenue and 8.9% increase in gross margin.
CLS Nevada June 2021 Financial and Operational Highlights
Retail subsidiary, Oasis Cannabis, achieved a 48.9% increase in monthly net revenue year-over-year, alongside a 36.8% increase in the number of transactions processed.
Branded wholesale division, City Trees, recorded a 110.7% increase in monthly year-over-year net revenue.
Combined monthly revenue for both divisions increased by 63.1% over June 2020, and by 88.2% over June 2019.
CLS continues to improve gross margin with an 8.9% increase compared to June 2020 and a 16.9% increase compared to June 2019.
Despite the extremely competitive market, the company's results have outpaced the state average.
The Company announced its limited endorsement of UFC welterweight fighter, Sasha Palatnikov, through its City Trees brand.
https://www.clsholdingsinc.com/news-media/pre...ne-results
LAS VEGAS, NV / ACCESSWIRE / July 13, 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 June 2021 with net revenues of $1.8M and a gross margin of 56.2%. These results represent a 63.1% year-over-year increase in monthly revenue and 8.9% increase in gross margin.
CLS Nevada June 2021 Financial and Operational Highlights
Retail subsidiary, Oasis Cannabis, achieved a 48.9% increase in monthly net revenue year-over-year, alongside a 36.8% increase in the number of transactions processed.
Branded wholesale division, City Trees, recorded a 110.7% increase in monthly year-over-year net revenue.
Combined monthly revenue for both divisions increased by 63.1% over June 2020, and by 88.2% over June 2019.
CLS continues to improve gross margin with an 8.9% increase compared to June 2020 and a 16.9% increase compared to June 2019.
Despite the extremely competitive market, the company's results have outpaced the state average.
The Company announced its limited endorsement of UFC welterweight fighter, Sasha Palatnikov, through its City Trees brand.
https://www.clsholdingsinc.com/news-media/pre...ne-results
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