CLS Holdings USA Inc (OTCMKTS:CLSH) Chairman issued an update to company’s shareholders, partners and other stakeholders. Jeff Binder, the CEO, expressed that they reach out to their members with price, excitement and gratitude. Their employees, shareholders and partners have always extended their support to the company. It has been a remarkable productive and extremely busy past few months for company’s team and they are now in a strong position to enhance long-term shareholder value.
CLS Holdings management reported that recently they have completed two oversubscribed funding rounds. They are thrilled that their financial supporters share the vision and excitement they have for company. Navy Capital has an extensive network of associations in the cannabis market and is extremely inclined towards the company’s patented processing and extraction technology.
The expect Navy Capital to bring added value to company. It is a remarkable corporate advancement to have another associate of Navy Capital’s stature. CLS Holdings management is thrilled by the expertise they offer to company.
They now have the capital in place to advance the build out of their Las Vegas grow and production facility. Moreover, the company will utilize a part of the funds to update its current Oasis Cannabis dispensary site and enhance its signage. The management is delighted to welcome Frank Tarantino as their Chief Financial Officer, at a prime time with their next stage in organic growth and acquisitions.
With their successful completion of the Oasis Cannabis deal, CLS Holdings is now active in the decriminalized cannabis industry in Las Vegas, NV. As it is known, Oasis Cannabis marks as a fully integrated cannabis business generating gross monthly revenue of $850,000. Following higher demand and the additional funds raised, CLS Holdings intends to triple the cultivation production capacity in this year and into 2019. The company continues to look for additional expansion opportunities in different states.