[ACCESSWIRE]
BOULDER, CO / ACCESSWIRE / November 13, 2015 / CLS Holdings USA, Inc. (OTCQB: CLSH), a development stage diversified cannabis company, today announced that an affiliate of its licensing partner, Picture Rock Holdings, a Colorado limited liability company, that will operate a grow in Denver, Colorado for Picture Rock, received its certificate of occupancy for the grow on October 5, 2015 and anticipates commencing planting at the grow during the week of November 16.
Picture Rock's affiliate, which acquired an Option Premises Cultivation License from a licensed Colorado marijuana grower and filed the required license transfer application with the Colorado Marijuana Enforcement Division, anticipates approval of its transfer application within the next 7 days and plans to bring in plants and start the grow immediately upon such approval.
Based on the anticipated start of the grow, Picture Rock is expected to start processing its first harvest in the first quarter of 2016. Even if the approval of the transfer application is delayed for up to an additional 60 days, which would delay planting at the site, the first harvest is still expected to occur during the first quarter of 2016.
Jeff Binder, Chairman, President and Chief Executive Officer of CLS Holdings USA, stated, "Despite the minor delay in commencing operations at the grow due to the license transfer process, we remain excited to demonstrate our patent pending proprietary technology, methods and processes. Once proven, we believe our methods and processes will be applicable across many cannabis cultivations and grows and will look to expand to more licensing partners."
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. plans to be a diversified cannabis company, specializing in the extraction and conversion of cannabinoids. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patent pending proprietary method of extracting various cannabinoids from the marijuana plant and converting them into a higher quality and quantity of products. The Company's business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services.
For more information, check out: http://www.clsholdingsinc.com
CONTACT:
Corporate:
Chairman and CEO
Jeff Binder
[email protected]
888-438-9132
Investors:
Darrow Associates, Inc.
Peter Seltzberg, Managing Director
[email protected]
516-510-8768
SOURCE: CLS Holdings USA, Inc.
