Water Tower Hour Recap
CLS Holdings is a vertically integrated cannabis company with core operations in Nevada. COO Joseph Ramalho joined us on the Water Tower Hour podcast to talk about why he joined the cannabis industry and his journey from budtender to COO of a leading cannabis operator. You can listen to the episode on Apple Podcasts, Spotify, or on our website. Links are accessible in our full report. The show begins with Ramalho sharing his personal experience with cannabis and how it has helped improve his health. A small amount of cannabis twice/daily solved his GI issues with minimal side effects. He uses CLS’ City Trees extracts to treat his condition. Seeing the medical benefits of cannabis inspired Ramalho to dedicate his career to helping others. He shares how he started at CLS as budtender, advanced to management roles, and eventually became COO of the company. We cover the CLS’ key assets including Oasis Cannabis Dispensary, a popular retail cannabis store for locals and visitors. It is a ~2,500-square-foot recreational and medical dispensary located in downtown Las Vegas. Ramalho also walks us their City Trees manufacturing and extraction business. CLS is using an asset-light approach to expand into new markets. Ramalho explains how they launched City Trees vape cartridges New Mexico and New York. We touch on how these deals are structured and the potential to further grow the City Trees brand nationally. Vape cartridges are one of the fastest growing categories and CLS has been upgrading its line of vapes. We discussed how in Nevada they can now offer distillate with cannabis-derived terpenes and the company also partnered with SOMA to release solventless rosin cartridges. City Trees CBD is a revenue diversifier and enhancer. The new line is currently focused non-THC formulations that can be distributed nationwide. Ramalho highlights its sleep formulations enhanced with CBN, its wonderful pain-relieving CBD topical balm, and uplifting THCV tinctures.
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