CLS HOLDINGS USA, INC. (OTCMKTS:CLSH) Files An 8-K Regulation FD DisclosureItem 7.01. Regulation FD Disclosure.
On December 7, 2017, CLS Holdings USA, Inc. (the “Company”) commenced a private offering of its securities to Rule 506(c) promulgated under the Securities Act of 1933, as amended. The Company is offering for sale a minimum of 1,800,000 units and a maximum of 4,000,000 units at a price of $1.25 per unit. Each unit consists of four shares of common stock and one warrant to purchase common stock at $0.75 per share. Assuming the Company sells the minimum units by January 17, 2018, which date may be extended by up to 60 days in the sole discretion of the Company, the common stock and warrants issued at closing will be restricted securities.
The Company intends to use the proceeds of the private offering primarily to make certain payments required under its definitive agreement to purchase the membership interests of three companies from Alternative Solutions, LLC, a revenue-producing vertically integrated cannabis business with operations in Las Vegas, Nevada.
About CLS HOLDINGS USA, INC. (OTCMKTS:CLSH)
CLS Holdings USA, Inc., is engaged in developing a method of extracting cannabinoids from cannabis plants and converting the resulting cannabinoid extracts into concentrates. The Company’s concentrates include oils, waxes, edibles and shatter. These concentrates may be ingested in various ways, including through vaporization through electronic cigarettes (e-cigarettes), and used for a range of pharmaceutical and other purposes. The Company intends to monetize extraction method through the licensing of its methods and processes to others, as in the Colorado Arrangement; the processing of cannabis for others, and the purchase of cannabis and the processing and sale of cannabis-related products. The Company’s products and services include Licensing Operations, Processing Revenue, Processing Facilities and Sale of Products and Brand Creation. As of May 31, 2016, the Company had not generated any revenues.
