Licensing Partner Expects to Start Plant Grow Week of October 12
BOULDER, Colo., Oct. 5, 2015 /Weed Wire/ — CLS Holdings USA, Inc. (OTCQB: CLSH), a diversified cannabis company, is pleased to announce that its licensing partner, Picture Rock Holdings, has received its certificate of occupancy for its cannabis grow located in Denver, Colorado. CLS’s licensing partner, Picture Rock Holdings, is a Colorado limited liability company licensed by the State of Colorado as a marijuana grower.
Picture Rock Holdings now anticipates to bring in its plants and expects to start its grow the week of October 12. CLS’s licensing partner is expected to start processing in the first quarter of 2016 when the first harvest is ready.
Jeff Binder, Chairman, President and Chief Executive Officer of CLS Holdings USA, stated, “This is another completed step in the process and we are pleased it came in the expected timeframe. The time schedule remains to have processing begin in the first quarter of 2016. Through our licensing partner we look forward to demonstrating our proprietary technology, methods and processes. Once proven, we believe our methods and processes are applicable across many cannabis cultivations and grows and will look to expand to more licensing partners.”
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. is a diversified cannabis company, specializing in the extraction and conversion of cannabinoids. CLS stands for “Cannabis Life Sciences”, as it maintains a proprietary method of extracting various cannabinoids from the marijuana plant and converting them into higher quality and quantity. CLS Holdings USA business model includes licensing operations, processing revenue, processing facilities, sale of products and brand creation and consulting services.
For more information, check out: http://www.clsholdingsinc.com
Forward-Looking Statements. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Form 8-K filed on April 30, 2015, including but not limited to the discussion under “Risk Factors” therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.
Chairman and CEO
Darrow Associates, Inc.
Peter Seltzberg, Managing Director
SOURCE: CLS Holdings USA, Inc.