CLS Holdings USA, Inc. (OTCQB: CLSH) “CLS,” a diversified cannabis company operating as Cannabis Life Sciences and an integrated cannabis producer and retailer in Nevada through its Oasis Cannabis subsidiaries, today announced it has loaned $5 million to In Good Health, a licensed medical dispensary in Brockton, Massachusetts with a significant market share.
CLS continues with its plans and looks forward to the opportunity to enter the rapidly growing Massachusetts market, which has been operating as a legalized medical jurisdiction since 2015 and has approved legalized recreational use.
In Good Health is located 25 miles south of downtown Boston and is one of the 38 licensed dispensaries in the state. The Brockton dispensary was the second licensed dispensary in the state and has been operational since September 2015, which has been medical only up until this time. In Good Health is currently servicing 17,000 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 39 licensees.
Jeff Binder, Chief Executive Officer of CLS Holdings USA, commented, “We are pleased to have continued to move forward with In Good Health in a timely manner and are extremely excited to have the opportunity to enter the Massachusetts market. This opportunity fits into our stated objective of entering markets that have attractive characteristics and are on the cusp of implementing a robust adult use market.”