An anonymous director reports
CLS HOLDINGS USA, INC. (OTCQB: CLSH) (CSE: CLSH.U) LOCKS UP ACQUISITION OF IN GOOD HEALTH, INC.
LAS VEGAS, JAN. 16, 2019
CLS Holdings USA Inc. has entered into an option to acquire In Good Health, in accordance with the previously excuted letter of intent. In Good Health is a licensed medical dispensary in Brockton, Mass.
Subject to the terms and conditions of the agreement, the parties have agreed upon all of the documents necessary to complete the acquisition. The completion of the acquisition of In Good Health remains subject to a number of conditions as set out in the agreement.
In Good Health is located 25 miles south of downtown Boston and is one of the 48 licensed dispensaries in the state. In Good Health operates a dispensary that was the second licensed medical dispensary in the state and has been operational since September, 2015. In Good Health is currently servicing 18,000 registered patients and delivering to 1,700 homes with key product offerings of flower, concentrates, vapes, edibles, prerolls and tinctures.
Massachusetts has a population of 6.9 million people as compared with 5.6 million people in Colorado. Massachusetts is also centrally located to the dense population of New England with a less than 100-mile drive from Rhode Island, Connecticut, New York, New Hampshire and Vermont. In 2017, Colorado generated $1.5-billion in legalized marijuana sales and had over 500 licensed dispensaries and over 700 licensed cultivation facilities. Massachusetts currently has issued only 48 licensees.
About In Good Health
In Good Health is a for-profit corporation which holds a certification of registration to operate a registered marijuana dispensary in Massachussets. In Good Health was one of 11 original applicants awarded a certificate of registration from the Department of Public Health, and was the second to open in the state. In Good Health successfully operated its co-located marijuana cultivation and dispensary facility in Brockton, Mass., in September, 2015.
About CLS Holdings USA Inc.
CLS Holdings USA 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," 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.
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