CLS Holdings USA, Inc. has entered into a definitive agreement to acquire an 80% ownership interest in CannAssist, LLC.
"CannAssist has entered into a contract with the City of Leicester and has applied for a state cultivation grow license. The planned Leicester 86,000 square foot facility is expected to produce its first harvest in Q1 of 2020. This facility is expected to produce 28,000 pounds of flower along with 240,000 grams of extract. Once fully operational, total revenues from the facility are anticipated to exceed $100 million. CLS anticipates generating substantial positive cash flow from the grow facility.", the team with the company explains.
Jeff Binder, Chief Executive Officer of CLS Holdings USA, states, "The market dynamics in Massachusetts are compelling for large scale cultivation. The current cultivation in Mass is approximately 800k square feet, while demand is expected to exceed 8,000,000 square feet."
For more information:
CLS Cannabis Life Sciences
1810 E. Sahara Ave.
Las Vegas, NV 89104