CLS Holdings USA, Inc. Branded Division Releases Five New Vape Blends, Anticipates Rising Category Leadership
LAS VEGAS, NV / ACCESSWIRE / February 2, 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 availability of its branded division’s new vape products. City Trees, the Company’s manufacturing subsidiary, is now offering five new distillate blends available in disposable vape pens, cartridges, and refill oil applicators. While City Trees currently has over 70% market penetration, the brand is poised to continue growing market share and strengthen its position as Nevada’s premier extract producer with the release of these new products.
The new vape products come as the result of months of market research on in-demand strains and flavor profiles, with each blend serving a unique segment of consumers, while also allowing for the brand to develop custom creations. To address market demand for fruit-forward flavors, City Trees’ new Mango Haze blend brings a unique tropical profile. The brand also sought to add variety with popular exotic strain blends, including GMO, Cherry Cola, and LV Confidential – a localized take on the popular strain, LA Confidential. To best serve the connoisseur market, the brand’s new Gasolina blend brings recognizable flavors modelled after a variety of classic cannabis strains.
“Each of these new products does an incredible job of providing options that our existing consumers were looking for according to our research, from of-the-moment strains to custom, flavor-driven experiences” said Company President and COO Andrew Glashow. “Seeing how successful our rebrand was in 2020 gave us the ability to refocus efforts on product innovation, and these new blends are the first of many new expansions for the brand catalog.”
As City Trees has continued to refine its offerings, it has risen among the ranks across all categories in which it produces. From the third to fourth quarter of 2020, the brand rose from the #10 position in best selling vape brands in Nevada to the #8 position, according to 2020 data provided by BDS Analytics. Within the vape category, a category with an estimated TAM valuation of $138 million annually[1], the brand also produces the #3 best selling cartridges in the 1000mg format. The Company continues to hold the #1 position in the tincture category in the state, with its Blue Agave tincture being the best selling tincture in Nevada. Among the best selling brands in the dabbable concentrate category, City Trees rose from #19 to #13 from the third to fourth quarters of 2020. The rising success of the brand is also reflected in increasing sales, with 23,646 units sold across all categories in December 2020, and 29,077 units sold in January 2021.[2] With the additional products now available on City Trees’ wholesale menus, the Company anticipates a continued rise in market penetration and growth throughout the rest of 2021.
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CLS stands for “Cannabis Life Sciences,” in recognition of the Company’s patented 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. https://www.clsholdingsinc.com/
Twitter: @CLSHoldingsUSA
Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production and distribution company. Offering a wide variety of products with consistent results, City Trees products are available in numerous dispensaries throughout the state of Nevada. https://citytrees.com
Forward Looking Statements
This press release contains certain ”forward-looking information” within the meaning of applicable Canadian securities legislation and ”forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the ”forward-looking statements”). These statements relate to, among other things, the impact of the COVID-19 virus on our business, the results of our initiatives to retain our employees and strengthen our relationships with our customers and community during the pandemic, the effect of our initiatives to expand market share and achieve growth during and following the pandemic, results of operations and financial performance, anticipated future events, and the effectiveness of our business practices during the pandemic. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. Due to the speed with which the COVID-19 situation is developing and the uncertainty of its magnitude, outcome and duration, it is not possible to estimate its impact on our business, operations or financial results; however, the impact could be material. 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. 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. See CLS Holdings USA filings with the SEC and on its SEDAR profile at www.sedar.com for additional details.
Contact Information:
Corporate:
Chairman and CEO
Jeff Binder
President and COO
Andrew Glashow
888-438-9132
Investor Relations:
[1] Total Addressable Market, or TAM, estimate is based on Nevada estimated sales data provided by BDS Analytics for December 2020. This estimate is based upon predicted results, is uncertain and involves known and unknown uncertainties and other factors that may cause actual results to be materially different from this estimate.
[2] Figure reported as of January 28, 2021. Additional sales may increase this total for the remainder of January 2021.
SOURCE: CLS Holdings USA, Inc.
View source version on accesswire.com:
https://www.accesswire.com/626818/CLS-Holdings-USA-Inc-Branded-Division-Releases-Five-New-Vape-Blends-Anticipates-Rising-Category-Leadership