NEW YORK, September 4, 2018 /PRNewswire/ --
FinancialBuzz.com, a respected source in the financial news mediaworld located on Wall Street, today announces an exclusive interview with CLS Holdings USA Inc. (OTCQB: CLSH) CEO and Chairman, Jeff Binder.
Mr. Binder shares
FinancialBuzz.com News Commentary
According to a report published by Marijuana Business Daily, thanks to the appearance of new markets and states that have legalized medical and recreational cannabis products, the year-over-year growth of cannabis retail sales continues. In 2018, sales are expected to increase by approximately 50% when compared to 2017. The report indicates that the cannabis sales value is expected to reach USD 8 Billion - USD 10 Billion by the end of this year. Additionally, the report projects that by 2022, annual retail cannabis sales in the United States could eclipse the USD 20 Billion mark, representing a 200% increase from 2017. Currently, legal cannabis markets can grow in major states such as California, Nevada, Colorado and Washington.
A report by the Arcview Group is projecting a growth in the sales of cannabis. Meanwhile, Troy Dayton, CEO of The Arcview Group, explained that, "The economic excitement around the legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in the United States, it's vital for key stakeholders to understand the full impact of legalization, beyond just retail sales numbers." The legalization of adult-use sales in California is projected to lead to the creation of nearly 99,000 cannabis industry jobs in the state by 2021, or about a third of all cannabis jobs nationwide, and 146,000 jobs overall when indirect and induced effects are considered.
Now Exclusive Interview with the CEO and Chairman of CLS Holdings USA Inc.
(OTCQB: CLSH), Jeff Binder:
Q: Mr. Binder, can you tell us a little bit about your professional experience and also provide our viewers with a brief overview of CLS Holdings operations?
While the question is directed to me, I would like to point out that we, at CLS have brought together a team of highly qualified and motivated individuals. It is this team, that will be propelling CLS into what I believe will be one of the premier cannabis companies in the world.
With regards to myself, I have a juris doctorate degree from the National Law Center, George Washington University School of Law. I practiced law in Chicago at the law firm of Sonnenschein et al. Five years after joining the firm, l had the good fortune of representing one of the firm's clients, Ray Kroc, the founder of McDonald's. Ray instilled in me good business practices and opened up my eyes to the world of entrepreneurship.
I have been involved as a founder, executive officer, board member of both private and public companies. They include: JeMJ Financial Services, Inc., a private holding company with various ownership interests in public and private companies and real estate. As Chairman of JeMJ I put together a private group of investors that purchased Commodore Cruise Lines, from EfJohn, a publicly traded company in Finland. I then served as Chairman of Commodore Cruise Lines.
In addition, I have served as President of GGL Industries, a private holding company that owned Sterling Yacht and various other companies. I also served as president of Warring & Gillow (US) and as a director of its parent Warring & Gillow, a public U.K. company established in 1695.
I am a founder of CLS and serve as its Chairman and CEO. I see CLS as positioned to take advantage of the opportunities of an industry in its infancy, the Cannabis industry. We at CLS look forward to creating one of the premier Cannabis companies in the world. We understand the challenge and responsibility that goes with such an undertaking.
Q: With 2019 approaching and more states receptive to the legalization of cannabis, where do you see the market heading and more importantly, where do you see CLS positioned in the marketplace?
A: CLS is currently seeing many opportunities as a result of states enacting new legislation on both medicinal and recreational adult use in cannabis. The company intends on becoming an active participant in the ever expanding marketplace by making strategic acquisitions along with continued organic growth of our existing platform in Las Vegas. We are particularly intrigued by states like Massachusetts, who are on the cusp of implementing a robust adult use marketplace.
Additionally, we will be actively pursuing opportunities for our patented proprietary processing technology. We have started the build-out of our first facility at our Nevada location and are entering into dialogue and discussion with many of the prominent players in Canada.
Q: Recently CLS has been announcing a number of transactions, what is the thought process and strategy around these transactions?
A: We believe that CLS is uniquely positioned as a vertically integrated operator in the state of Nevada and more specifically in Las Vegas. We are actively pursuing additional licenses in that state, which will allow us to further benefit from a rapidly growing medicinal and adult use marketplace. According to the Las Vegas Convention and Visitors Authority (LVCVA) Research Center, about 42 Million people visit Las Vegas each year.
We think that we are uniquely positioned in the marketplace today based on having a fairly strong cash position, access to additional capital, great financial partners, sponsorships and this will allow us to maximize our efforts on many of the opportunities that we see today.
We understand that this is a marketplace that requires knowledge and also the ability to rapidly access the capital markets to be in a position to win and/or execute on some of these unique opportunities. It's our view at CLS that we are in the very beginning stages of a rapidly developing legal cannabis marketplace with new rules and regulations, which are becoming more favorable, CLS should be in a position to rapidly grow its existing business along with making substantial accretive acquisitions. It is our goal in the coming years to create and maximize shareholder value by generating revenues with fundamental support.
Q: Can you discuss the integration of OASIS into the public company and do you remain excited by the prospects of the deal?
A: We are thrilled to date with our acquisition of the Oasis companies in Las Vegas. The opportunity that we saw two years ago is developing along the lines that we anticipated. We have a strong team in place that has substantial knowledge of the cannabis marketplace in Las Vegas and the US. We are also incredibly excited about the prospects of our City Trees Brand. We currently have distribution in 25+ dispensaries in the Las Vegas marketplace and plan to aggressively market City Trees Brand to make it one of Las Vegas most recognizable cannabis brands.
I'd like to point out that being a public company certainly comes with additional obligations to represent ourselves in the marketplace. The additional level of transparency that we offer to our investors today as well as new investors and shareholders is worth this effort. We are pleased that we have been able to complete a PC AOB audit not only for CLS the parent company, but we now have been able to successfully audit the books and records of our acquisition. Not only does it make our company attractive to the public market, but also makes our company attractive to private companies as we look to make additional acquisitions.
Finally, with the expansion of our current grow capacity and the build-out of our proprietary technology at our Las Vegas facility, we are excited by the prospects of increasing our margins and providing our customers with an outstanding product at a fair and reasonable price point.
Q: CLS has certain patented IP, can you elaborate further on it and your ideas of monetization?
We see 2019 as a breakout year for our proprietary conversion and extraction technology. We will be able to show people in our Las Vegas facility exactly how our process works. CLS will use this as a showcase to not only build additional facilities, utilizing our technology, but to license it in the United States to others as well. In our opinion, we also see this technology as a perfect fit for some of the larger Canadian growers, as our technology will have the ability to process thousands of pounds of cannabis on a monthly basis and produce a product that is far superior to others currently in the marketplace. Some statistics point towards an increase use amongst people of "vaping" products versus smoking product. We believe that our technology is at the forefront and CLS will see substantial progress and positive outcomes in 2019.
Q: Can you please discuss, as mentioned in your recent shareholder update the success of the City Trees Brand and do you view branding as an important element going forward?
A: I believe that I mentioned earlier the initial success of our City Trees Brand in Las Vegas. The principles of CLS have some unique branding experience and as the barriers break down among states whereby we may have the ability to do business across state lines, we are optimistic that City Trees is the type of brand that should be well received.
Q: What are CLS near term catalysts to further enhance shareholder value and what can the investment community expect further down the road?
A: Some of the near-term catalysts that we hope will propel CLS to the next level is our ability to execute in Nevada along with expanding into other states that are receptive to for-profit entities like ours that operate a vertically integrated platform. We are currently pursuing opportunities that we hope to complete by the end of this year.
We will continue to stay clearly focused on bringing additional shareholder value to existing shareholders along with creating an opportunity for those that want to invest in the cannabis marketplace.
The founders of CLS have invested substantial amounts into this company. Approximately $7,000,000 Million Dollars all of which is in the form of equity and none of which has been sold into the public marketplace. It is our intent and goal to build this cannabis company into one of the largest in North America.
About CLS Holdings USA, Inc. CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that, subject to receipt of certain anticipated license approvals, acts as an integrated cannabis producer and retailer in Nevada and plans to expand to other states. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patented 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. About Oasis Cannabis (https://oasiscannabis.com/) - 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. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the fourth quarter of 2018.
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