With his departure,
During Binder's seven years at the helm of CLS, the Company and its subsidiaries saw significant growth. His leadership brought the Company to new heights, cementing its industry-leading status and prominence in the market.
CLS-owned City Trees brand became the number one selling cannabis brand within the categories they sell in
Effective immediately,
Glashow pointed out that, 'It has been nothing short of a privilege to have Binder lead the company through its many successes over the past five years; equally, his dexterous guidance and leadership through challenging times have been invaluable to the team and a significant contribution to our success. I am appreciative of and thank Jeff for all he has done for this company. We are pleased that Jeff will continue to act as a liaison between the company and our Fort McDermitt Paiute and Shoshone tribal operations.'
Binder proceeded to point out, 'In working closely with Andrew during my time at CLS, I have confidently recognized that his leadership will continue building our momentum and bring our brand to new heights. I am grateful for my time as CEO and look forward to seeing CLS further its growth and accomplishments with Andrew at the top.'
And Glashow added, 'I look forward to building upon the growth we've accomplished under Jeff's leadership. We have an exciting future ahead of us and I'm thrilled to lead the way.'
Furthermore, CLS announced the appointment of
Glashow shared, 'We are excited to have David as part of our Board of Directors. Between his deep knowledge of the cannabis industry and financial acumen, we're confident he will add a lot to our growing company and future successes.'
After spending eight years in investment banking, with executive positions at
The news of Binder's resignation and the appointment of Glashow as CEO and Zelinger as an independent board member comes shortly after the Company announces record-breaking sales for its City Trees division, making it the number one selling brand within the entire concentrate category by units sold and the number one selling tincture brand in both dollars and units sold in
About
Oasis Cannabis has operated a cannabis dispensary in the
Founded in 2017, City Trees is a
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 speed with which the COVID-19 situation is developing and the uncertainty of its magnitude, outcome and duration, 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. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events. See
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