PHOENIX, May 31, 2018 (GLOBE NEWSWIRE) -- Jeffrey Binder, Co-Founder, Chairman, and CEO of CLS Holdings USA, Inc (OTCQB:CLSH) (“CLS”, the “Company”) was recently interviewed about the company’s upcoming acquisition and other corporate matters on Uptick Newswire’s “Stock Day” podcast.
CLS Holdings USA, Inc. has entered into an agreement to purchase 100% of a vertically integrated cannabis company by the name of Oasis Cannabis. The transaction is scheduled to close on or before June 21st. Oasis is a relatively busy operation, serving an average of 400 people per day whose average purchase price is between $55 and $60. CLS is excited by the growth prospects of the LV cannabis market and will apply for additional dispensary licenses in July.
CLS has a defined acquisition strategy they plan to carry out over the next three to five years. Their hope is to make a series of accretive acquisitions along with exploiting the company’s patented proprietary conversion and extraction process.
According to Binder, vertical integration is key for success in this field. Since recreational cannabis use has been legalized in Canada, the company has applied for a dual listing on the CSE market to expand their reach to a broader investor base. CLS expects this to be finalized in the third quarter of this year.
Binder believes an important aspect that has a lot of potential is in the use of cannabis to combat our current opioid epidemic and utilize the natural healing benefits of the plant. “I don’t want to lose sight of that fact as we move forward.”
“Stock Day” host Everett Jolly believes that the stock is greatly undervalued, trading at 65 cents per share. The company’s market cap is currently sitting at a little over 32 million dollars.
For more information on the company’s funding plans, international expansion plans and their patented process, listen to the full Uptick Newswire interview at the link below.
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, Inc.
www.clsholdingsinc.com
CLS Holdings USA, Inc. (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 states.
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
Disclaimer
CLS has executed a definitive agreement to acquire the Oasis Cannabis companies from Alternative Solutions, LLC. The closing of the transaction 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.
Twitter: @CLSHusa
Forward Looking Statement
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. CLS Holdings USA has entered into a definitive agreement to acquire Oasis Cannabis, which is expected to close in the second quarter of 2018. See CLS Holdings USA filing with the SEC for additional details.
Safe Harbor Act
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Contact:
Cannabis Life Sciences Holdings USA, Inc.
Jeffrey Binder, President & CEO
(888) 438-9132
jeff@clslabs.com
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