CLS Holdings USA, Inc.: insider trades · United States · SEC (Form 4)

About CLS Holdings USA, Inc.

CLS Holdings USA, Inc. is a U.S.-based company whose business profile is tied to the regulated cannabis industry. For French-, Belgian-, and Swiss-based investors, it should be viewed as a small-cap, high-volatility name with an equity story driven more by operational execution and regulatory developments than by scale or diversification. The company is incorporated in the United States and, in SEC disclosures, describes itself as a diversified cannabis company operating through subsidiaries such as Oasis Cannabis and City Trees. Its core activities include retail dispensary operations in Las Vegas, small-scale cultivation, product manufacturing, wholesale distribution, and ancillary processing/extraction services. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1522222/000118518524000858/cls20240531_10k.htm?utm_source=openai)) The company’s origins date back to 2011, when it was incorporated as Adelt Design, Inc. It later changed its name to CLS Holdings USA, Inc. after CLS Labs acquired control and the business model was fully pivoted toward cannabis operations in 2014-2015. Since then, CLS has built its footprint primarily in Nevada, with a strong concentration in the Las Vegas market. SEC filings describe a retail dispensary located within walking distance of the Las Vegas Strip, together with cultivation, manufacturing, and wholesale capabilities in North Las Vegas. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1522222/000118518524000858/cls20240531_10k.htm?utm_source=openai)) From a competitive standpoint, CLS Holdings USA is positioned as a vertically integrated regional operator rather than a national platform. That matters: the company has some control across the value chain, but its business remains highly concentrated in one state and therefore exposed to local pricing, licensing, and compliance dynamics. Its best-known brands and operating assets include Oasis Cannabis, focused on retail, and City Trees, which launched wholesale offerings in Nevada and markets concentrates and cannabis-infused products. The company also references brand-building, consulting, and extraction-related services, giving it a broader operating mix than a simple dispensary operator. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1522222/000118518523000332/ex_500490.htm?utm_source=openai)) Geographically, CLS is almost entirely U.S.-focused, with Nevada as its main operational base. There is no meaningful international operating footprint disclosed in the sources reviewed. For market context, CLS Holdings USA is associated with the U.S. cannabis equity universe and, importantly for investors, it is not a mainstream NYSE or NASDAQ large-cap listing; the company is instead tracked in the over-the-counter market. That makes liquidity, disclosure depth, and valuation comparability very different from larger U.S. exchange-listed consumer or healthcare names. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1522222/000118518525000554/clshex99-4.htm?utm_source=openai)) Recent SEC filings indicate that CLS continues to operate its Las Vegas dispensary and North Las Vegas production/distribution facilities while refining its asset base and operating structure. The latest public disclosures still point to the same core model: retail, cultivation, manufacturing, and wholesale cannabis activities in the United States, with performance closely linked to the evolving legal and competitive landscape of the cannabis sector. For investors seeking exposure to a specialized U.S. cannabis operator, CLS Holdings USA remains a niche, speculative name with execution risk, regulatory sensitivity, and limited geographic diversification. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1522222/000118518525000018/cls20241130_10q.htm?utm_source=openai))