CLS Holdings USA (OTCQB:CLSH) announced it plans to acquire an unnamed “potential cannabis vertical” located and operating in Nevada.
As quoted in the press release:
CLS Due diligence is continuing on the target and CLS believes that it will effect directly the proposed acquisition of this Nevada cannabis operation.
Pursuant to the letter of intent, CLS is now preparing the definitive documentation required to effect the combination of the companies and commence the preparation of audited financial statements for the target acquisition.
Jeffrey Binder, Chairman of the Company, stated, “We view the Nevada cannabis market as an exceptional opportunity for growth and development. We plan to relocate the CLS corporate offices there and pursue an aggressive expansion plan that includes cultivation, processing, dispensaries and delivery. The proposed transaction will position our company to emerge as a dominant cannabis operator in our target markets.”