CLS Holdings USA, Inc. Discusses Growth Strategy and Significant Debt Reduction with The Stock Day Podcast
Phoenix, Arizona–(Newsfile Corp. – July 26, 2023) – The Stock Day Podcast welcomed CLS Holdings USA, Inc. (OTCQB: CLSH) (“the Company”), a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CEO of the Company, Andrew Glashow, joined Stock Day host Kevin Davis.
CLS Holdings USA, Inc.
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“What AI solutions has your business engaged to help grow?”, asked Davis to begin the interview. “On the retail side, we have introduced an artificial intelligence budtender,” shared Glashow, adding that the AI budtender provides recommendations to customers, while also answering questions for a more personalized experience. “We’ve seen our average ticket grow anywhere from 40%-60%.”
Glashow then expanded on the Company’s use of AI technology with regards to cultivation and the challenges many companies face within this sector. “We have identified technology which scans the plants and is able to see stress issues related to water and light seven days before it is detectable by the trained human eye,” said Glashow, adding that growers are immediately notified if any of these traits are identified. “We believe introducing new technology to cultivation related assets has the potential to be incredibly meaningful for this industry.”
“How is CLS Holdings managing to stand out compared to other companies in the cannabis industry?”, asked Davis. “We have stayed true to the local folks,” said Glashow. “That has helped us through the pandemic as tourism came to a halt during that time period,” he said. “We catered to locals and we have continued to cater to locals, and as a result our business has consistently continued to grow.”
“Could you share what your current customer retention is?”, asked Davis. “95%,” shared Glashow. “We have a robust loyalty program in conjunction with a third-party vendor,” he explained. “This has been the most effective outreach marketing campaign and we have been with them for well over five years,” said Glashow. “We consistently give those people, our customers who we love, the best products at the best possible prices,” he said. “And we are always trying to provide variety.”
“You have also reduced your debt dramatically. What is your plan moving forward to continue that?”, asked Davis. “We have taken debt, however it was a big initiative of mine to reduce that debt,” said Glashow, adding that the company has reduced their debt from $23.5 million to $10 million over the last twelve months. “Mostly we have achieved this through existing cash flow,” he said. “We are on track to pay down the debt by $200,000 per month,” shared Glashow. “It is my goal by the end of the year to see our debt at around $7 million and my goal for the next calendar year to have it reduced to $4 million.”
To close the interview, Glashow encouraged listeners and shareholders to keep up-to-date on the Company’s current and upcoming projects as they continue to expand in the growing cannabis industry.
To hear Andrew Glashow’s entire interview, the link to the podcast is available by clicking: Stock Day Media Podcast with Andrew Glashow, CEO of CLS Holdings USA, Inc.
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. (OTCQB: CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CLS stands for “Cannabis Life Sciences.”
The Company’s business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services. https://www.clsholdingsinc.com
Oasis Cannabis Dispensary
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. In February 2019, it was named “Best Dispensary for Pot Pros” by Desert Companion Magazine. In August 2017, Oasis commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. http://oasiscannabis.com
Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production and distribution company that offers a wide variety of products with consistent results. City Trees products are available in numerous dispensaries throughout the state of Nevada. https://citytrees.com
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 expected development of our business and joint ventures, results of operations and financial performance, future liquidity, working capital and capital requirements. 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. 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 CLS Holdings USA filings with the SEC and on its SEDAR profile at www.sedar.com for additional details.
SOURCE: CLS Holdings USA, Inc.
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