Connect with us

Business

CLS Holdings USA Inc (OTCMKTS:CLSH) Increases Revenues In June 2020 By 5.35%

Published

on

CLS Holdings USA Inc (OTCMKTS:CLSH) posted a growth of 5.35% YoY to $1.102 million in June 2020. Its earnings in April and May 2020 are $946,322 and $1.011 million.

The company showed resilience to the ongoing coronavirus and posted better results in June 2020. After experiencing a drop in revenues in April 2020, the team at CLS Holdings put in significant efforts to boost sales.

Better results begin in May 2020

COO of CLS Holdings, Andrew Glashow said its efforts are yielding better revenues. He said its branded products and wholesale division navigated successfully through the difficult situation caused by COVID-19 and started reaping better results beginning May 2020 from its City Trees clientele.

Implements curbside pickup

Oasis subsidiary of CLS Holdings is posting consistent an increase in earnings by 35% for each transaction despite a reduction in operating hours by 40% in the past three months. The company implemented in-store services and curbside pickup after the authorities allowed resuming operations in May 2020. It is also maintaining previous delivery services to satisfy the growing demand. CLS Holdings upsized its sales team and plan to introduce new products in response to growing demand in Nevada and its neighboring states.

Andrew said the company expects that sales will return to pre-COVID-19 levels and will launch innovative products.

Curaleaf acquires Grassroots

Curaleaf Holdings Inc (OTCMKTS:CURLF) took over GR Companies Inc (Grassroots) to become a multistate cannabis operator in the US. With this takeover, Curaleaf expanded its footprint to 23 states from 18 states. The company operates 88 dispensaries, 22 cultivation sites, and over 30 processing facilities.

The deal is valued at $875 million in July. Mitchell Kahn, CEO of Grassroots, said the firms will dominate the market with combined vision. CEO of Curaleaf, Joseph Lusardi, said the deal strengthens its leadership position.

The merged company will leverage the consumer brands of Curaleaf and strengthen its financial performance. Curaleaf operates in various states, including North Dakota, Vermont, Maine, Florida, and Arizona.

Curaleaf mobilizes funds of CAD 34.06 million

Curaleaf raised funds of CAD 34.06 million in two tranches. Under the initial tranche, the company issued 3.541 million subordinate voting shares and mobilized CAD 27.269 million. In the second tranche, Curaleaf raised funds of CAD 6.787 million through issuing 842,269 subordinate voting shares.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business2 weeks ago

Stem Holdings Inc (OTCMKTS:STMH) Reports A Growth Of 960% In Q3 2020: Unveils TJGardens Branded Tinctures

Post Views: 351 Stem Holdings Inc (OTCMKTS:STMH) posted an increase of 960% YoY to $6.7 million in Q3 2020. It...

Business2 weeks ago

Indiva Ltd (OTCMKTS:NDVAF) Signs Three Provincial Agreements: Expands Distribution Network To Eight Provinces: Reports A Robust Growth Of 1273.7% In Q2 2020 Revenues

Post Views: 377 Indiva Ltd (OTCMKTS:NDVAF) posted a robust growth of 1273.7% YoY to CAD 2.826 million in revenues in...

Business2 weeks ago

4Front Ventures Corp (OTCMKTS:FFNTF) Receives Approval From CCC For Mission Dispensary and Cultivation Facilities In Worcester: Will Commence Adult-Use Cannabis Sales

Post Views: 343 CCC (Cannabis Control Commission) in Massachusetts approved cultivation and processing facilities and Mission Dispensary of 4Front Ventures...

Business3 weeks ago

Pure Sunfarms, A Joint Venture Of Village Farms International Inc (NASDAQ:VFF), Ships Bottled Oil Products TO British Columbia

Post Views: 482 Pure Sunfarms, which is a Village Farms International Inc (NASDAQ:VFF) JV, commenced shipment of Cannabis 2.0 products...

INDUSTRIAL HEMP3 weeks ago

Health Canada Grants Cannabis 2.0 License To Abba Medix Corp, An Auxiliary Of Canada House Cannabis Group Inc (OTCMKTS:SARSF)

Post Views: 383 Abba Medix Corp., a wholly-owned subsidiary of Canada House Cannabis Group Inc (OTCMKTS:SARSF), received an amended cannabis...

Business3 weeks ago

SugarBud Craft Growers Corp (OTCMKTS:RLLRF) Receives An Amended License From Health Canada To Sell Dried Cannabis Products

Post Views: 431 SugarBud Craft Growers Corp (OTCMKTS:RLLRF) obtained an amended sales license from Health Canada. It allows the company...