CLS Holdings USA and CannAssist Sign an Agreement of Joint Venture

CLS Holdings, USA is a vastly spread cannabis company that is operating as the Cannabis Life Sciences and an incorporated cannabis retailer and producer in Nevada through the Oasis Cannabis subsidiaries. It announced today that it has signed a definitive agreement to attain an eighty percent ownership interest in the CannAssist, LLC. This contract shows CLS’s determination to become an important entity in the ever-growing market of Massachusetts.

The State of Massachusetts has a much larger population of 6.9 million in comparison to that of Colorado that has a population of 5.6 million. Massachusetts also has a central location to the thickly populated New England and has less than a 100-mile drive from New York, Vermont, Rhode Island, Connecticut, and New Hampshire. The Denver city currently has roughly three hundred and sixty-four dispensaries whereas the State of Massachusetts currently, has even less than fifty of them.

“We are extremely excited to enter into this agreement. The market dynamics in Massachusetts are compelling for large scale cultivation,” said the CEO of CLS Holdings USA, Mr. Jeff Binder. “The current cultivation in Mass is approximately 800k square feet, while demand is expected to exceed 8,000,000 square feet. This opportunity fits into our stated objective of entering markets that are on the cusp of implementing a robust adult use market”.

CannAssist has signed a contract with the city of Leicester and has also applied for the state cultivation grow license.  CanAssist plans to construct a facility that when completed will have roughly 86000 square feet of space for cultivation which will make it one of the best 3 facilities available in the state. The company further expects to commence operations and realize its very first harvest in the first quarter of 2020.