City Trees Expands into New York
CLS Holdings is a vertically integrated cannabis company with core operations in Nevada. The company owns and operates Oasis cannabis dispensary, one of the leading stores in Las Vegas. CLS also has a state-of-the art extraction and manufacturing facility in Nevada and a suite of top-performing brands. City Trees is CLS’ flagship brand of extracts, oils, tinctures, capsules, pre-rolls, and vapor cartridges. It is Nevada’s top-selling vape brand and according to BDSA is number two in the state by total units sold in the inhalables, concentrates, extracts, and vape only category. City Trees announced today it is expanding into New York’s recreational cannabis market. BDSA forecasts New York will be a $1.3 billion dollar market in 2024 and should continue to grow as new stores open and consumers convert from the illicit market. CLS is using an asset-light licensing strategy to enter New York. This is similar to how the company expanded into New Mexico and requires little capex and often offers higher margins. CLS is partnering with AUCP license holders Basix Mixtures, the only operating processor in Brooklyn. This makes City Trees the first “Made in Brooklyn” cannabis product to enter the New York recreational market. City Trees is launching with three of its most popular vapor cartridge blends: Blue Dream, Fruity Pebbles, and Mango Haze. These three initial offerings sell more than one million cartridges per month in Nevada and span the indica, sativa, and hybrid categories. They will be offered in one-gram sizes, using the popular 510 thread that is compatible with most batteries. Flavors and form factors will evolve as the New York market grows. Joseph Ramalho, COO of CLS Holdings, commented, “New York’s regulated cannabis market is still in its early stages, offering us the chance to grow and evolve in what promises to be one of the world’s largest recreational cannabis markets. There’s something about NYC and the City Trees brand that just seemed to fit…" City Trees is celebrating the launch by co-sponsoring an independent hip hop artist showcase on April 4 at the THC NYC Museum in SoHo. There will be more than 30 artists spanning five floors, including new music from Wu Tang’s Shyheim in honor of the 30th anniversary of his first album.
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