#Cannabis Growth in Nevada; Acquisitions, Dispensaries and Mainstream Targets; (NYSE: $MO), (NASDAQ: $CRON), (OTCQB: $CLSH), (CSE: $GTII.C)
Point Roberts WA, Las Vegas, NV - December 4, 2018 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering marijuana and hemp stocks issues a sector snapshot looking at Nevada dispensary acquisitions and recent reports of major acquisitions in cannabis going mainstream for December.
Reported in August of this year, "Nevada's marijuana dispensaries brought in more than half a billion dollars in revenue during the first year of legalized sales, with the state overperforming expectations and collecting $69.8 million in taxes for recreational sales."
The momentum continues with November highlighting the growth of the cannabis market in Nevada with the ArcView Investor Forum and the MjBizCon attracting record attendance .Other news of acquisitions and dispensary tourism revenue made headlines.
Also during November Planet 13 opened; the world's largest cannabis dispensary now open to Las Vegas. According to the article from CNBC "Recreational marijuana use is legal for adults 21 and over in Las Vegas, and Nevada collected more than $69.8 million in marijuana tax revenue during the first year of recreational sales after it legalized the drug in 2017, according to Las Vegas Sun."
The first week of December brings the potential of major mainstream players entering the cannabis sector with acquisitions, as Monday news hit on CNBC and other major sites that Altria (NYSE:MO), the maker of Marlboros is in talks to buy cannabis company Cronos Group (NASDAQ: CRON).
The only dispensary located on the Las Vegas Strip with an additional two other stores, Essence Cannabis dispensary news on Potnetwork.com announced that "Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) recently acquired Las Vegas-based Integral Associates for $290 million, the largest acquisition of its kind in Nevada's cannabis industry to date. The deal will close sometime during the first half of 2019."
"Integral Associates is best known for its Essence retail brand which operates three locations across the Las Vegas Valley. Business Insider ranked Essence as one of the best dispensaries in Nevada, and it's been recognized by Leafly and High Times as well. In total now, Green Thumb Industries owns eight facilities and 60 retail licenses across eight states."
Another company investing in Nevada dispensaries is CLS Holdings USA (OTCQB: CLSH), a geographically diversified cannabis company that has its subsidiary, Oasis Cannabis Dispensary in Las Vegas 1 mile off the strip. Oasis Cannabis was one of the first dispensaries to open in Las Vegas. CLSH Holdings this fall reported news "of increased sales for the month of August 2018 at its Oasis Cannabis location in Las Vegas, Nevada."
"August 2018 sales were up 11.8% over sales in August 2017. This meaningful growth was driven by a 400% increase in wholesale revenues under the City Trees Brand."
Ben Sillitoe, CEO of CLS Nevada, commented, "We are extremely pleased with the growth in our City Trees brand and overall sales at Oasis. We are in the midst of layout, signage and marketing improvements which we believe will further improve our visibility, market penetration and sales growth."
Nevada Department of Taxation Executive Director Bill Anderson said in August, paving the way for stronger growth, "Nevada's first year with a legal adult-use market has not only exceeded revenue expectations, but proven to be a largely successful one from a regulatory standpoint,"
Watch the video with Ben Sillitoe at Oasis:
Vegas & Cannabis: A perfect pairing - tour of Oasis Cannabis Dispensary
About Oasis Cannabis:
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 August 2017, the company commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the first quarter of 2019.
About CLS Holdings USA:
CLS Holdings USA, Inc. (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 stands for "Cannabis Life Sciences," 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.
For additional information, please visit: http://www.clsholdingsinc.com
Twitter: @CLSHusa
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