This represented a significant monthly increase in gross margin of 20% year over year and 66% over 2019 as well as the largest gross margin the Company has ever achieved. The wholesale branded division at City Trees remained hot with monthly net revenue growth of 91% year over year and 132% over 2019.
CLS Nevada
The Company's retail division, Oasis Cannabis continued to exceed its goal of a greater than
The Company's branded division, City Trees, continued to outperform the market and achieved a 91% increase in year-over-year revenue and a 132% increase from 2019
City Trees continued to maintain its position as the number one selling tincture brand in the state of
The Company achieved its greatest monthly gross profit margin to date
BDS Analytics numbers reflected that City Trees was the number one brand for the entire concentrate category in units sold in the state of
'It's been an exciting 2021,' noted Company President & COO
About
Oasis Cannabis
Oasis Cannabis has operated a cannabis dispensary in the
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 uncertainties associated with the continued spread of COVID-19 and the timing of vaccinations, 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.
Contact:
Tel: 888-438-9132
Email: investors@clsholdingsinc.com
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