LAS VEGAS, NV, Feb. 26, 2018 (GLOBE NEWSWIRE) -- CLS Holdings USA, Inc. (OTCQB: CLSH) “CLS,” a development stage diversified cannabis company operating as Cannabis Life Sciences, discusses developments and trends in the Las Vegas cannabis market, including increased demand for oil vaporizers, edibles and cannabis oils.
“Since Nevada approved the launch of legal adult use less than 8 months ago, our team has fulfilled close to 90,000 orders and expects to process order 100,000 in March,” stated Ben Sillitoe, Co-Founder and Chief Executive Officer of Oasis Cannabis. The company reported that it is seeing consistent trends in customer tastes and product preferences as well as growth in its home delivery operations.
“The largest portion of our sales is in premium cannabis flower products, but we are seeing an increase in demand for oil vaporizers.” Oasis Cannabis reported that other popular segments, including edibles and concentrated cannabis oils, are a growing part of its business. Sillitoe continued, “We are excited for the future of the Las Vegas cannabis market and think we are in a great position to provide our clients with excellent products and service.”
The Oasis Cannabis storefront is centrally located, which makes it ideally situated to offer home delivery to residents all over the Las Vegas valley. “Home delivery is an important part of our service offering,” Sillitoe continued. “I think that today’s consumers have come to expect that level of convenience.” Oasis Cannabis reported that its home deliveries make up about 15% of total daily sales and that figure has grown from just 5% of total sales when deliveries were launched in August 2017. Sillitoe believes this growth is attributed to both changing consumer tendencies and to improvements made to the online ordering system used by Oasis Cannabis. “The convenience of being able to easily order cannabis online and have it delivered directly to your home is very attractive to many customers. We expect the delivery business will continue to grow as more consumers realize how quick, easy and safe it really is to get cannabis brought to their front doors.”
Disclaimer
CLS has executed a definitive agreement to acquire the Oasis Cannabis companies (Alternative Solutions, LLC). The closing of the transaction is expected to close in the second quarter of 2018 and is subject to the satisfaction of a number of conditions including our ability to raise cash, and as a result, there can be no assurance that we will be able to close the Oasis Acquisition.
See CLS Holdings USA’s filings with the SEC for additional details.
About Oasis Cannabis (http://oasiscannabis.com)
Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the second half of 2018.
About CLS Holdings USA
CLS Holdings USA, Inc. (OTCQB: CLSH) plans to become a diversified cannabis company and is shifting its corporate strategy to becoming a fully licensed integrated cannabis producer and retailer in Nevada and other western states. Its strategy and business model will be similar to Canopy Growth (WEED.TO), Aurora Cannabis (ACB.TO) and GB Sciences (GBLX).
CLS stands for "Cannabis Life Sciences," in recognition of the Company's patent pending proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company's business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services.
For additional information, please visit: http://www.clsholdingsinc.com
Twitter: @CLSHusa
Forward Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. These forward-looking statements include, but are not limited to, statements relating to whether certain transactions will be completed, the terms of such transactions, the descriptions of the companies and the business that any potential target companies could bring to CLS Holdings. In some cases, you can identify forward-looking statements by terminology such as "may," "might," "will," "should," "intends," "expects," "plans," "goals," "projects," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance and we cannot guaranty that the proposed transactions described in this press release will occur. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events