CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH), a diversified cannabis company operating as Cannabis Life Sciences, is pleased to announce that it has entered into an option (the “Agreement”) to acquire In Good Health, in accordance with the previously executed letter of intent. In Good Health is a licensed medical dispensary in Brockton, Massachusetts.
Subject to the terms and conditions of the Agreement, the parties have agreed upon all of the documents necessary to complete the acquisition. The completion of the acquisition of In Good Health remains subject to a number of conditions as set out in the Agreement.
In Good Health is located 25 miles south of downtown Boston and is one of the 48 licensed dispensaries in the state. In Good Health operates a dispensary that was the second licensed medical dispensary in the state and has been operational since September 2015. In Good Health is currently servicing 18,000 registered patients and delivering to 1,700 homes with key product offerings of flower, concentrates, vapes, edibles, pre-rolls and tinctures.
Massachusetts has a population of 6.9 million people as compared to 5.6 million people in Colorado. Massachusetts is also centrally located to the dense population of New England with a less than 100-mile drive from Rhode Island, Connecticut, New York, New Hampshire and Vermont. In 2017, Colorado generated $1.5 billion in legalized marijuana sales and had over 500 licensed dispensaries and over 700 licensed cultivation facilities. Massachusetts currently has issued only 48 licensees.