From Seed to Sale

Cultivating the Health and Safety of Our Customers

On June 24, 2025, at a Special Meeting of the Shareholders, CLS Holdings USA, Inc.’s (the “Company”) shareholders voted to approve a 4,000,000 to 1 reverse stock split of the Company’s issued and outstanding shares. The Company will pay three point seven cents ($0.037) per pre-split share to any shareholder holding a fractional share as a result of the reverse stock split.

Immediately following the shareholder approval of the reverse stock split, the Company deposited all of the funds necessary to pay the shareholders with Odyssey Trust Company, a third-party entity acting as the Paying Agent. Odyssey, in turn, issued checks to shareholders holding their shares in their personal accounts and is awaiting further authorization to disburse the remaining funds to Cede & Co., the entity holding the remaining shares in brokerage accounts. The Company has, at this point, met its depository obligation to fully fund the payment to shareholders and Odyssey is awaiting further regulatory authority before making the final payments. 

As of today, Fifty-Two (52) payments have now been made to shareholders who hold their shares directly. For those whose shares are held at Cede & Co in brokerage accounts, the Financial Industry Regulatory Authority (FINRA) undertakes a review of the transaction before it will allow for the disbursement of funds to shareholders. While we do not anticipate that the FINRA review will cause any complications related to payments, the Company must nonetheless wait for formal approval before the payments through Cede & Company can be completed. 

FINRA is currently reviewing the documents submitted by the Company related to the reverse stock split. The Company expects FINRA to complete its initial review by August 1, 2025. FINRA may request additional documentation or clarification from the Company after its initial review or it may approve the transaction without further comment. If FINRA requests additional information, the Company will immediately respond to any such request.

After FINRA approves the Company’s submission, Odyssey Trust will transfer the funds to Cede & Co. and Cede & Co. will begin to process payments to holders of fractional shares. The Company remains optimistic that payments from Cede & Co. will commence in August. If that timeline changes, the website information will be updated each Monday to reflect the most current information available to the Company. Please check back here weekly for the most current available information regarding your payment.

 

About CLS Holdings

Delivering Quality and Consistency

CLS is a vertically integrated cannabis producer and retailer offering a wide variety of cannabis products through two subsidiaries: Oasis Cannabis and City Trees. We hold a U.S. Patent for our proprietary extraction and conversion methodology, which delivers products with a higher level of quality and consistency.

Our Company

Home of the BEST. DAMN. DEALS.™

Oasis Cannabis is a premier dispensary operating in Downtown Las Vegas. Serving both locals and tourists in the Las Vegas area, Oasis is committed to crafting an experience that is just right for each customer and is recognized as one of the top cannabis retailers in the state.

Who is Oasis?

Cultivating Excellence in Cannabis Production and Distribution Across Nevada, New Mexico, and New York

City Trees is a dynamic cannabis enterprise specializing in cultivation, production, and distribution, providing a diverse range of premium cannabis offerings. As a flourishing brand, City Trees extends its presence across multiple states, including Nevada, New Mexico, and New York.

Who is City Trees?

Always fresh, always full, no trim here. Let's roll!

The year is 1950, and the Mob is hard at work building Las Vegas’ reputation as the Entertainment Capital of the World. In search of a convenient commute to the casino, those that worked in the service industry lived in an affordable neighborhood near the action - the iconic “Vegas Showgirl" not the least among them. Legend has it that these darling dancers used to sunbathe in the nude to prevent pesky tanlines, earning the neighborhood the nickname, “Naked City”. While the showgirls have moved on, the community is still here. With a focus on accessibility and sustainability, our brand honors our neighborhood’s past, present, future, and all those seeking a higher state of being.

Who is Naked City?

Revenue Breakdown by Brand

For complete information regarding our financials, see our periodic filings.

  • Dispensary (Oasis)80%
  • Production (City Trees)20%