FinancialBuzz.com’s latest Buzz on the Street: Corporate News Recap on “CLS Holdings USA Loans $5 Million to In Good Health, Continuing on its Path to Enter the Rapidly Expanding Massachusetts Market” and “CLS Holdings USA Closes $5.9 Million Private Placement.”
CLS Holdings USA, Inc. (OTCQB: CLSH) is a diversified cannabis company that, subject to receipt of certain anticipated regulatory approvals, acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada, and plans to expand to other states.
CLS, 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.
Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area.
According to a research published by Grand View Research, the global legal cannabis market is anticipated to reach USD 146.4 Billion by the end of 2025. The legal cannabis market is segmented into medical and recreational. Furthermore, the medical cannabis segment accounted for about 80.3% of the revenue in 2016, owing to the increasing awareness of cannabis product’s health benefits. The medical market itself is estimated to reach USD 100.03 Billion by 2025, while recreational cannabis is expected to grow at a faster rate as countries like Canada and the U.S. are moving towards legalization of cannabis for recreational use.
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